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
Ripple CTO Emeritus Breaks Silence on XRP and XLM in Epstein Files
Crypto Market Review: Did XRP Downtrend End? Shiba Inu (SHIB) Taking a Beating, Bitcoin (BTC) Safe Above $80,000
U.Today Crypto Digest: XRP Millionaires Awaken, Shiba Inu Buyers Step In, Dogecoin Sees 10,782% Rise in Futures Volume
Scaramucci: ‘Get Ready’ as Bitcoin Firms Against Falling Gold
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.
Caroline Amosun
Tomiwabold Olajide
Godfrey Benjamin