Terra DeFi token price tops $100, hitting a new all-time high

The Terra (LUNA) price surpassed the $100 mark, setting a new all-time high. The token’s market capitalization exceeded $36 billion.

According to CoinGecko, the new price record stood at $100.84.

Over the past seven days, LUNA has risen more than 55% and climbed to ninth place by market capitalization.

LUNA is used as collateral for the algorithmic stablecoin UST — a key element of the Terra ecosystem.

Flood Capital experts noted that in 2021 the share of UST in the total market capitalization of stablecoins rose from 0.67% to more than 6%. The growth occurred amid little exchange support for the asset and its use in two main applications — Anchor and Mirror, they noted.

UST has grown its dominance from .67% to over 6% in 2021 with barely any exchange listings and only 2 main apps, Anchor and Mirror.

Given this growth in 2021 and upcoming catalysts, 150% growth in 2022 isn’t unreasonable.

Meaning $UST at 23B EOY 2022.

So what are the catalyst? pic.twitter.com/2QCaXIxb0h

— Flood Capital (@FloodCapital) December 23, 2021

On December 23, Huobi added UST to its listing.

🚀#Huobi is listing $UST! Share 2,000 UST now！

🔹 Follow @HuobiGlobal @terra_money
🔹 RT with #HuobiXTerra and tag 2 friends

Click to join 👇

— Huobi (@HuobiGlobal) December 23, 2021

Earlier, the NEAR protocol announced the integration of Terra’s stablecoin into DeFi protocols within its ecosystem.

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