While the broader crypto market is still grappling with the bearish trends of the past week, LUNA, the native cryptocurrency of the Terra ecosystem, is currently one of the top performing assets in the market.
According to data by CoinGecko, LUNA has gained over 50% within the last seven days, and despite the weekend crash, hitting a new all-time high (ATH) of $77.7 earlier today.
LUNA’s uptrend over the past few weeks has been impressive and astonishing, as the coin was one of the hardest hit cryptocurrencies during the May sell-off.
LUNA Has Gained 2700% since May Crash
LUNA went downhill following the May 2021 crash, with its price slashing about 81% of its value at the heat of the sell-off, knocking TerraUST (UST) off the peg.
However, the coin made a pretty dramatic comeback, recording highs after highs and outperforming the second largest cryptocurrency, ETH by 10 times. Since May, LUNA has seen a 2,700% increase in value, with ETH only increasing by 270% since the crash.
LUNA has also surpassed some of the trending coins in the market, including the meme-inspired coins, DOGE and Shiba Inu.
At the time of writing, LUNA is the 10th largest cryptocurrency, trading at $ 67 with a market cap of $ 26.56 billion.
Terra’s TVL Hits $13.9 Billion
Terra, LUNA’s native blockchain ecosystem was also not left out in the bullish trend. The leading decentralized finance (DeFi) blockchain network has also recently achieved a new milestone.
According to a recent tweet from Wu Blockchain, Terra’s Total Locked-In Value (TVL) recently reached $ 13.9 billion, a weekly growth of 43%.
With this latest development, Terra is currently the third-largest DeFi blockchain, just after Ethereum and Binance Smart Chain (BSC). The network managed to surpass Solana and Avalanche on the list in the last two days, with a growth rate of 42.9% within the past 7 days.
