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.
Subscribe to ForkLog’s channel on YouTube!