Following the news of the UST listing from Binance, LUNA has set a new ATH, exceeding $100.
Terra’s native token LUNA continues its massive rally. LUNA managed to surpass $100, rising more than 50% in a week. The rally gained momentum after Binance announced that it will list Terra’s stablecoin, UST. With a market capitalization of $36.58 billion, LUNA is 132% since the beginning of December. 6, 21% in the last 1 year. increased by 508. LUNA currently remains in the top 10 as the 9th largest cryptoasset.
As we reported earlier, Terra approved the burning offer of 90 million LUNA held in the community pool in October. This process continues with 7.5 million LUNA burned in the last 5 days.
TVL Breaks Record
Terra broke a new record not only in terms of price but also in TVL value. According to Defilama data, Terra’s TVL (total value locked) reached $21 billion. This equates to a massive increase of nearly 100% for the protocol, which has a TVL of around $12 billion just this month. Outperforming Binance Smart Chain in terms of TVL, Terra is just below Ethereum and is the second largest protocol in the TVL benchmark.
Binance Lists UST
On the other hand, Binance, the world’s largest crypto asset trading platform, has listed Terra’s stablecoin UST. Users can trade with UST/BTC, UST/BUSD and UST/USDT parities. According to the network’s monetary policy, 1 USD worth of LUNA must be burned before 1 UST can be minted.
LUNA is trading at $98.78 at the time of publication.