Terra’s LUNA price hits an all-time high

The Terra ecosystem’s native token LUNA price surpassed the $107 level, reaching an all-time high.

As shown below, LUNA’s rally has been accompanied by a surge in trading volumes.

The asset’s market capitalization surpassed $38 billion.

On the backdrop of the rally, the total TVL in the Terra ecosystem exceeded $29 billion.

The price of LUNA rises on the back of active bitcoin purchases by the non-profit Luna Foundation Guard (LFG) to support the stability of the algorithmic stablecoin UST.

Arcane Research analysts пришли к выводу, that should the current pace continue, LFG’s reserves will exceed 48,000 BTC by early April.

Experts see the organization’s activity as a driver of market growth.

In January, Terraform Labs pledged to provide more than $4 billion to fund the development of the Terra ecosystem and bolster the stability of the UST stablecoin.

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