Ethereum Killer Terra (LUNA) Reaches Major Milestone in DeFi: Details
Terra (LUNA), the second largest blockchain by total volume of assets locked across all DeFi protocols, is on the eve of capturing a double-digit share of the global Web3 ecosystem.
Terra (LUNA) is now responsible for almost 10% of all of DeFi's TVL
According to data by DeFi Llama tracking platform, Terra (LUNA), which is the most popular blockchain for dApps outside of Ethereum, is getting closer to a historic milestone.
What if I told you @terra_money was on the verge of capturing 10% of all the TVL in DeFi?#2ndbiggestchaininthewurld $LUNA pic.twitter.com/JBWH9Bfvzf
— ? redphonecrypto (@redphonecrypto) February 25, 2022
For the first time in its history, its share of DeFi's aggregated TVL can surpass 10%. Ethereum, a flagship smart contracts hosting platform, is in charge of 56.7% of this volume.
Ethereum and Terra are followed by BNB Chain (formerly Binance Smart Chain), Avalanche and Fantom. In all, three platforms are responsible for 16% of the DeFi ecosystem's TVL.
Terra's flagship protocol, Anchor, which made headlines with its 19.6% APY for stablecoins, is the largest DeFi protocol on Terra. It is one step short of reaching $10 billion in TVL.
LUNA leads market recovery, prints 25% surge
Staking platform Lido, Astroport and TerraSwap DeFis follow Anchor on the leaderboard.
As covered by U.Today previously, LUNA, a core native asset of Terra blockchain, is the leader of today's crypto market upsurge. Being up 25%, it paves the way for all large caps.
Tomiwabold OlajideCardano and Solana are also in the green today with double-digit upsurges.
In early Q1, 2022, Terra (LUNA) was mentioned among the top undervalued assets by a number of crypto analysts and entrepreneurs.
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