Terra continues to tear up the DeFi charts. Covered: Terra Luna TVL Growth LUNA Still Undervalued Terra Luna TVL Growth I’ll tell you a secret.. While other chains were busy being the $eth killers and who had the biggest TVL. Terra was focusing on creating the “gold standard” of decentralized money for every chain It […] The post This Protocol’s TVL Has Doubled Since February appeared first on CryptosRus.

This Protocol’s TVL Has Doubled Since February

Terra continues to tear up the DeFi charts.

Covered:

  • Terra Luna TVL Growth
  • LUNA Still Undervalued

Terra Luna TVL Growth

Terra’s LUNA token continues to rise (70% in the last 30 days) without any end in sight. It’s currently trading in the $94 USD range, 11% off of its all-time high of $104. Unsurprisingly, Terra’s DeFi is growing alongside the token.

TVL on the Do Kwon-led chain has doubled since February 1st, going from 13 billion to 26 billion USD. The rise is thanks to a variety of reasons like the proliferation of the UST token, the success of Anchor Protocol (50% of TVL on Terra), and various cross-chain integrations.

Despite the fact that LUNA has risen sharply of late — and done far better than its peer tokens — the token’s growth is still considered tepid by some.

Terra DeFi: LUNA Still Undervalued

As Messari Crypto points out, “Even with @terra_money‘s 30d price increase of 76%, its CMC has not kept pace with its relative TVL growth, implying that investors are either intentionally discounting this TVL growth or unintentionally failing to grasp its competitive positioning.”

It’s hard to think of Terra right now as underperforming, especially considering how the rest of crypto has done, let alone fellow smart contract protocols. “Smart contract tokens, exclusive of $LUNA, are down 12% over the last 30 days,” Messari points out. “Meanwhile, $LUNA is up over 76% in the same period.”

LUNA last hit its all-time high back on March 13th before falling back down to $83. It would stand to reason if the protocol’s steep TVL rise helped LUNA break through the resistance next time around.

Recommended: Analyst Says LUNA Could Be Heading For $200 Sooner Than You Might Think

 

 

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