• The fiat-pegged crypto protocol (LUNA) has seen a more than 50% increase in its value in less than a week. It is now the 12th most valuable cryptocurrency by market capital.
• Terra, which has a TVL value of $12.77 Billion, is now the fifth largest DeFi network.
• Terra (LUNA), which can be staked on the Huobi Pool, (NASDAQ:), is available now. It starts at 0.1 LUNA.
• Stader Labs teased LunaX’s launch, opening up new opportunities for LUNA users.

Terra (LUNA), a blockchain protocol, uses fiat-pegged stabilitycoins to support price-stable global payments systems. LUNA, while it isn’t a stablecoin by itself, benefits from price stability and widespread adoption of fiat currencies.

LUNA (the native token of Terra) gained widespread popularity for its 2,000% gain over the first seven months, which made it one of the top performers in 2021. What has Terra done in recent years?

Pricing Updates

Terra (LUNA), despite the fact that major cryptocurrencies are proving incapable of exceeding their resistance, is enjoying an exponential growth.

LUNA gained an impressive 50% in just seven days. This makes it the most performing cryptocurrency in the top 100, ranked according to market cap. LUNA also became the 12th largest cryptocurrency in this process.

This is the seven-day price chart of Terra (LUNA) Source: Tradingview

LUNA’s gains helped the crypto set a new all-time high of $66.21 on December 2nd. Terra (LUNA), down by $66.21 from the intraday peak of $63.885 at this time, trades at $63.885. Terra now ranks 12th among cryptocurrency with a market value of $24.78 trillion.

Terra (LUNA) price chart 24 hours a day Tradingview

The Latest Developments and Future Events

Terra (LUNA), which was previously a background project in decentralized finance (DeFi), is quickly rising to prominence. Terra, which has only 10 DeFi protocol protocols, is currently ranked fifth in blockchain projects with $12.77 Billion TVL (total value).

Terra’s total value Source: Defillama

The Terra network’s expansion is in full flow, and LUNA burning has attracted users to the network. In the last week of November, 7.2 millions LUNA tokens was burned. Since then, the annualized staking rate for LUNA has increased by 4.61% to 10.74% at month’s end.

Huobi Pool, the world’s largest staking mining pool under Huobi Group, recently announced the launch of Terra LUNA staking.

Huobi Pool allows investors to vote on notes and get rewards. Investors will enjoy 3.8% annualized returns if they stake a minimum of 0.1 LUNA coins.

On November 30th, Terra announced a proposal to increase the UST on Curve Finance, Ethereum’s leading AMM (automated market maker) for stablecoin swaps. The ultimate goal of all of these recently submitted proposals is for UST to become the “go-to” interchain stablecoin.

LunaX was teased by Stader Labs. It will allow users to get auto-compounding via Liquid Luna as well as liquidity fees from several pools. Users can use leveraged stakes as well access futures or options.

Flipside

• Terra ranks fifth in DeFi networks, but it is not as useful as top platforms.
• Terra currently hosts 10 protocols and has 326. Binance however has 189, 38, and 78.

Community

Terra is a community with a substantial base of users and one that’s very active in crypto. Terra is referred to as LUNAtics by its community.

Through community calls, and through governance through stakestaking, members are made feel part of the project.

LUNAtics are very bullish on Terra’s future (LUNA). @cryptomanran, a crypto analyst shared his thoughts on why Terra might be ranked among the top five cryptos.

$LUNA will be top 5,here’s why;1.Insane Tokenomics (Luna/Terra burn)2.Great tech3.Decentralized web 3 money narrative.4.Charismatic/genius figure head!5.Strong community- increasing momentum6. The best VC support. All made crazy returns.

— Ran Neu Ner (Plan C) (@cryptomanran) November 28, 2021

Remi Teto (GMI Analyst) wrote these words about Terra.

Be aware that $Luna only serves as a tool within Terra ecosystem. While it may generate some wealth for Hodlers and other stakeholders, $UST will be the reference stablecoin in multichains. @terra_money has been leading the charge to create a decentralized economy.

— Remi Tetot (@Remi_Tetot) December 2, 2021

@lunaterraluna responded to the announcement that banks were exploring Terra.

The big banks are now beginning to explore what @terra_money & @anchor_protocol do as their basic function with $LUNA & $USTWould be great to see borrowers, big & small, sidestep the #Tradfi banks & just do this with $LUNA…. https://t.co/dlsrT38nWN

— Lunáticos (,) (@lunaterraluna) December 2, 2021

What are the reasons to care?

Terra is a cryptocurrency worth following. It has only 10 protocols in its network and a TVL exceeding $12.77 Billion.

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