- LUNA price has posted a 56% rally over the last 7 days, hitting a new all-time high at $67.87.
- The algorithmic-backed stablecoin UST is the largest of its kind, driving Web3 adoption.
- Anyswap protocol has announced a partnership with Terra, powering a cross-chain bridge between TerraUSD and Fantom.
As Web3 adoption gathers steam, Terra-powered LUNA hit a new all-time high. LUNA’s daily trade volume has exploded, hitting $2.26 billion today. The Terra ecosystem has announced new partnerships to bridge TerraUSD with layer-2 tokens.
Terra’s LUNA hit a new all-time high
Stablecoins play a key role in the crypto ecosystem. Though controversial, these assets bridge the gap between fiat and cryptocurrencies on exchanges. Terra’s stablecoin TerraUSD (UST) has a market capitalization that has crossed $1.2 billion.
UST is the first algorithmic stablecoin built for e-commerce andhas been dubbed the DeFi dollar. Terra’s ecosystem aims to offer next-generation digital commerce and money through UST and LUNA.
LUNA hit fresh all-time highs three times in the past 30 days, offering holders over 55% gains.
As Web3 adoption increases, Terra’s stablecoin becomes more relevant.
Terra announced the news of its partnership with Anyswap Network. The trustless protocol bridges layer-1 and layer-2 blockchains. UST is now connected to FTM through a cross-chain bridge.
A new proposal on Injective, a layer-2 decentralized exchange protocol, proposes to enable Terra ecosystem price feeds. The exchange proposes to launch UST pairs for LUNA, Mirror Protocol (MIR) and Anchor Protocol (ANC).
Analysts have a bullish outlook on Terra’s LUNA. @BigCheds, a pseudonymous cryptocurrency analyst, is bullish on the coin.
$LUNA (USDT) though incredibly bullish we must observe:
Note the decreasing size of the real candle bodies of the last 3 completed candles. Representative of decreasing trend strength according to Japanese…
