Data from the decentralized financial monitoring platform DeFi Llama showed on Monday morning (7) that the Terra ecosystem (LUNA) had 22.31 billion dollars of total value locked (TVL)just shy of its all-time high of $23.5 billion. The growth of the “rival Ethereum (ETH)” blockchain network is being seen by analysts as a sign that the cryptocurrency is targeting its all-time high, despite the timing of the correction.
This was suggested by the analyst The Crypto Dog to his nearly 740,000 Twitter followers in a post last Saturday (5) by arguing that the LUNA mapping indicates that the cryptocurrency is an exception to the current bearish market scenario.
LUNA is clearly heading towards the ATHs (all-time highs) as soon as BTC relaxes. Lots of graphics look like c***. This is not one of them, said the influencer.
$MOON is clearly running to ATHs eleven BTC chills out
— The Crypto Dog📈 (@TheCryptoDog) March 4, 2022
Showing a slight retracement (-0.42%) trading at $82.63 on Monday, despite posting a rise of just over 11% in the last seven days and roughly 45% in the last 30 daysAccording to CoinMarketCap mapping, LUNA maintains The Crypto Dog’s optimism thanks to network expansion.
30-day chart of the LUNA/USD pair. Source: CoinMarketCap
The show of investor confidence in Terra (LUNA) was also noted by Cointelegraph in a post regarding the Staking Rewards platform follow-up last Friday (4). At that moment, LUNA showed a weekly gain of 10% and a monthly increase of about 50% in its TVL. At that moment the crypto asset outperformed Ether (ETH) in staking, according to the data. This is because the figures indicated $29.5 billion in allocated LUNA and $25.9 billion in ETH.
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