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 friendsClick 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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