Ethereum Killer Terra (LUNA) Reaches Major Milestone in DeFi: Details

Terra (LUNA), a high-performance smart contracts platform, is ready to surpass 10% on all of world’s dApps’ TVL

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Terra (LUNA), the second largest blockchain by total volume of assets locked across all DeFi protocols, is on the eve of capturing a double-digit share of the global Web3 ecosystem.

Terra (LUNA) is now responsible for almost 10% of all of DeFi’s TVL

According to data by DeFi Llama tracking platform, Terra (LUNA), which is the most popular blockchain for dApps outside of Ethereum, is getting closer to a historic milestone.

For the first time in its history, its share of DeFi’s aggregated TVL can surpass 10%. Ethereum, a flagship smart contracts hosting platform, is in charge of 56.7% of this volume.

Related:  Here’s How Ethereum (ETH) Can Help Bitcoin (BTC) Raise Its Dominance Level, According to Top Crypto Analyst

Ethereum and Terra are followed by BNB Chain (formerly Binance Smart Chain), Avalanche and Fantom. In all, three platforms are responsible for 16% of the DeFi ecosystem’s TVL.

Terra’s flagship protocol, Anchor, which made headlines with its 19.6% APY for stablecoins, is the largest DeFi protocol on Terra. It is one step short of reaching $10 billion in TVL.

LUNA leads market recovery, prints 25% surge

Staking platform Lido, Astroport and TerraSwap DeFis follow Anchor on the leaderboard.

As covered by U.Today previously, LUNA, a core native asset of Terra blockchain, is the leader of today’s crypto market upsurge. Being up 25%, it paves the way for all large caps.

Cardano and Solana are also in the green today with double-digit upsurges.

In early Q1, 2022, Terra (LUNA) was mentioned among the top undervalued assets by a number of crypto analysts and entrepreneurs.


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