Terra (LUNA) Has Increased By More Than 64% In Five Days, With A Total Value Locked Nearing $20B

While many of the general crypto markets have seen a minor uptick in the recent week,Terra, Ethereum (ETH) rival is outperforming the rest with substantially larger gains.

LUNA, the native token of Terra’s decentralized payment system, rose from $48.53 on February 22nd to $79.64 on February 27th, a gain of more than 64% in five days.

The price movement of LUNA has not gone undetected.

According to Altcoin Sherpa, a well-followed pseudonymous crypto expert, LUNA looks to be one of the most bullish digital assets on the market right now. The tremendous surge of purchasing power that reached LUNA when crypto markets fell off, according to the crypto expert, might be a bullish indication for the seventh largest digital asset by market size.

Terra’s outstanding success is due to its continuously expanding ecology. Decentralized finance (DeFi) tracker DeFiLlama reports that Terra’s total value locked (TVL) has increased by over 30% in seven days to $19.88 billion.

The total capital contained within a blockchain’s smart contracts is represented by its TVL. TVL is derived by multiplying the amount of collateral locked into the network by the asset’s current value.

Terra is now the second-largest blockchain in terms of total value locked behind Ether (ETH).

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Patrick

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