LUNA is up 71% but can it be sustained in the coming days?

Terra’s LUNA token has now risen to 11th place in terms of market capitalization and is one of the fastest growing coins of the week. The interest of the organizers is one of many factors that influence the price of LUNA.

LUNA had a pretty successful week

LUNA has risen steadily since the end of November, with a daily gain of 14%, made up for all of its November losses and marked a new all-time high (ATH) with no stop sign within 3 days.

LUNA price promotion | Source: TradingView

LUNA is currently trading at $ 69.8 and was the most bullish coin in the top 100 on the market for the past week.

Whether or not LUNA is natural for the time being remains unconfirmed as trading volume hit a 2-month high that matches the rally.

Total trading volume LUNA | Source: TokenTerminal

However, transaction statistics expressed as total revenue from transactions remained average.

Total sales of LUNA | Source: TokenTerminal

With nearly 7.5 million LUNAs burned in the last week as evidence that the demand for USTs is growing, that increase could be natural.

A potential boost could be a 25 percent increase in TVL in the Anchor Protocol, which also increases Terra’s TVL to 40%.

With 13.5 billion US dollars, Terra has now surpassed Avalanche and occupies fourth place in the TVL best list.

The sharp rise in prices is due to quite a strong social activity. Terra has been consistently developing so far, UST cross-chain transfers between Terra and Fantom are available via the Anyswap network.

Society fair LUNA | Source: Santiment

In any case, LUNA investors need to continue to be careful as the market is in a state of fear and LUNA volatility is also increasing.

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