• Terra's LUNA has exceeded $21.06 billion in total value locked on its network.
  • Terra has surpassed Ethereum-killers in gains and growth in its total value locked.
  • Terra's UST is the first algorithmic stablecoin to exceed $10 billion in market capitalization.
  • Analysts have projected further growth in Terra price, a continuation of the current uptrend.

The spike in total value locked on the Terra network has fueled a bullish narrative for the token's price. Analysts have a bullish outlook on Terra, predicting a continuation of the rally. 

Terra hits another all-time high as TVL explodes

Terra price crossed $103 earlier today, hitting a new all-time high as the token's total value locked (TVL) exploded. TVL is similar to market capitalization, and the rise in total value locked indicates Terra's massive growth. 

Terra's total value locked is currently above $21 billion, and it has continued to climb steadily since mid-December 2021. The altcoin (LUNA) has surpassed Polkadot and other Ethereum-killers, boosting its on-chain activity. 

Terra's logarithmic stablecoin UST has surpassed $10 billion in market capitalization. This is the first stablecoin of its kind (decentralized) to achieve this feat. 

Alongside the spike in market cap, the implementation of the burn policy triggered a rally in Terra price. 

Do Kwon, the founder of Terraform labs, believes that Terra is the core anchor of web3. 

According to Kwon, decentralized stablecoins and data privacy could become two primary pillars of the new digital economy. 

@dkcrypto13, a pseudonymous analyst, has evaluated the Terra price trend and predicted that the token could break out despite macro collapses. 

@TheCryptoLark, a cryptocurrency analyst and YouTuber, recently tweeted about Terra. The analyst has a bullish outlook and revealed his Terra holdings. 

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Bitcoin Weekly Forecast: This support level can define BTC’s fate

Bitcoin Weekly Forecast: This support level can define BTC’s fate

Bitcoin price has finished the first half of 2022 and things are not looking good. With record negative returns, BTC is likely to continue heading lower, especially if one particular support level is breached. 

More Bitcoin News

Key price levels to watch out as Ethereum enters Q3 in a negative posture

Key price levels to watch out as Ethereum enters Q3 in a negative posture

Ethereum (ETH) price has been clawing back losses at the start of the trading day, but attempts have been cut short quite quickly after Europe opened, and saw equities dragged to the downside. 

More Ethereum News

XRP price primed for a big move as Ripple expands to New Zealand

XRP price primed for a big move as Ripple expands to New Zealand

Airwallex, a leading financial services platform, expanded its payment services to New Zealand. The fintech firm joined RippleNet in 2017 and offers services to businesses as a substitute for conventional banks. 

More Ripple News

DeFi traders must consider these resistance levels before trading Compound’s COMP price

DeFi traders must consider these resistance levels before trading Compound’s COMP price

COMP price is consolidating in a tight range, trying to establish a directional bias after a quick recovery rally. Depending on which camp wins, COMP is likely to head in that direction. However, judging by the market structure, a pullback seems likely. 

More Compound News

Bitcoin: This support level can define BTC’s fate

Bitcoin: This support level can define BTC’s fate

Bitcoin price ended Q2 with a -56% return, which is the first in its 11-year history. On-chain metrics hint at bottom formation but technicals reveal more room to the downside. Bitcoin price has finished the first half of 2022 and things are not looking good. With record negative returns, BTC is likely to continue heading lower, especially if one particular support level is breached. 

Read full analysis

BTC

ETH

XRP