LUNA, the native staking token that underpins the Terra blockchain, has managed to log a new all-time high of $64.87 earlier today.
The cryptocurrency is up 14% over the past 24 hours, as per data provided by CoinMarketCap.
Because of the most recent price spike, LUNA’s market cap has topped $25 billion.
The Mike Novogratz-supported cryptocurrency is now worth more than Shiba Inu (SHIB). The two tokens are in the 12th and 13th place, respectively, on CoinMarketCap.
Advertisement
Crypto Market Prediction: XRP to Avoid Bearish Crash? Shiba Inu (SHIB) Big Price Battle in Two Days, Ethereum (ETH) Tumbles Below $4,000
Morning Crypto Report: Elon Musk's SpaceX Resumes Strange Bitcoin Activity, XRP Ticker Debuts on Nasdaq, US-China Talks Trigger $824,470,000 Crypto Liquidations
XRP ETF Flows Will Exceed What People Are Expecting, Analyst Predicts
XRP-Based Loans to Launch in December, Ethereum to $5,000, Western Union to Introduce Solana-Based Stablecoin — Crypto News Digest
Wed, 12/01/2021 - 15:13
Dogecoin Killer Shiba Inu Coming to Brazil's Largest Crypto Exchange
The LUNA price is benefiting from the growth of the TerraUSD (UST) stablecoin.
Validators stake Luna in order to be able to verify transactions. The token is also used for voting on various governance decisions.
According to data provided by DeFi Llama, Terra has a 4.69% share of the smart contract market with $12.84 billion in total value locked.
In late September, Terra rolled out its much-anticipated Columbus-5 that ensures interoperability with other blockchains.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team