Terra's Token LUNA Has Grown By Almost 80% Over The Week

Terra's native token LUNA has grown 79.66% over the past seven days. The protocol, developed by the South Korean firm Terraform Labs, surpassed Polygon (MATIC) as the third largest blockchain by total volue locked (TVL). LUNA is trading at an all-time high of $33.3 today.

The blockchain platform is driving trade between LUNA and Terra stablecoins when it needs to reduce or increase the supply of stablecoins, and has currently growing attention as the price of the native token has risen more than 460% in the last 30 days. With $6.21 bln TVL, Terra has become the third blockchain after Ethereum and Binance Smart Chain.

Listing on the large exchanges has significantly boosted Terra's user base growth as Wrapped LUNA (WLUNA) and TerraUSD (UST) trade on Coinbase Pro. The update Columbus-5 is scheduled in the coming weeks.

Image: Medium