Terra’s LUNA set new highs of nearly $106
|Terra’s LUNA tokens rose 10% in the past 24 hours to set new all-time highs of over $105.91, data show.
LUNA breached a previous high of $104.74 from earlier this month, price-charts show.
LUNA set new highs this morning. (TradingView)
LUNA is one of the two native tokens of the Terra network, a framework that allows developers to create custom blockchains and build their own decentralized applications on top of Terra for various use cases.
Sentiment for LUNA has grown in the past month largely due to the Luna Foundation Guard (LFG), a Singapore-based nonprofit that is purchasing over $3 billion worth of bitcoin as an additional layer of security for UST, Terra's decentralized dollar-pegged stablecoin.
LFG’s demand for bitcoin has led to a recovery in the past week. Bitcoin breached the $47,000 level yesterday, the highest level since the start of this year.
Data show LUNA has risen some 86,215.7% from all-time lows of $0.121798 in March 2020, making it one of the best performing tokens in the past two years. LUNA has a market capitalization of $37 billion at time of writing and is ranked eighth largest among other cryptos.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.