Wonky Mars Protocol launch shows ecosystem expansion may not add to network value -Breaking
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Each day new protocols launch on networks across the crypto-space. The trend is expected to continue into the next year. When looking at the top five networks by total value locked (TVL) — (ETH), (LUNABinance Smart Chain (BSC)AVAX(SOL) — As perAccording to DeFiLlama data, Ethereum has 579 protocol (including L1 & L2), Terra has 25, Terra has 25 and BSC 348 respectively, while Solana has 187 and 64 protocols. Terra has a low number and high TVL, which is why it stands out.
Terra’s TVL reached an all-time high at $20 billion in December 2021 before dropping to $13 billion during the January 2022 crash. The ecosystem has been able to increase its liquidity to $26 billion to date.
LUNA, the instrument that guarantees the USTUSD peg, is LUNA.
New protocol launches are highly correlated to LUNA prices.
ASTRO Volume and Price after Launch
Volume and Mars price after launch
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