• Terra Luna outperforms the top ten and climbs to an all-time high

  • According to CoinGecko data, Terra Luna continues to outperform the rest of the top ten, rising 39.4 percent in the last seven days. LUNA is up 40.2 percent in the last 30 days and 14,244 percent year to date as it approaches new all-time highs.

    The majority of tokens have recovered from their recent lows, according to ULTCOIN365’s report on the current crypto market recovery. As it trades in an ascending bullish channel, Terra is making its way back to its recent all-time high of $85.50 set on Dec. 4 before the market cascaded to selling pressure.

    Terra has risen significantly since late November and has surpassed Dogecoin, Avalanche, and Shiba Inu to become the tenth largest cryptocurrency by market cap. One of the major developments from the network’s Columbus-5 upgrade in October was a new design for keeping stablecoins pegged to their fiat value: whenever UST is minted, LUNA of the same value is burned.

    Terra Analytics estimates that over 100.5 million LUNA tokens have been removed from the total circulating supply since the Columbus-5 update went into effect at the end of September.

    According to DeFi Llama data, Terra is also the third-largest smart contracts platform by total value locked (TVL) at $14.17 billion, surpassing Solana, Avalanche, and Tron.

    As of press time, LUNA was trading at $72.80, up 8.63 percent in the previous 24 hours.

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