LUNA Hits ATH After Astroport’s Deployment, Why Terra Could Continue Growing In 2022

Name	Symbol	Market	Market Cap ($)	Algorithm
Maker	MKRUSD	Crypto	2,525,747,031	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Maker

MKRUSD

Crypto

2,525,747,031

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	16.34	0.60%	2,737.42	2,737.42	2,737.51

Price Change

Price Change %

Current Price

Bid Price

Offer

16.34

0.60%

2,737.42

2,737.51

High Price	Low Price	Open Price	Prev. Close	52 Week Range
2,738.56	2,652.42	2,722.50	2,721.08	511.02 - 4,075.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

2,738.56

2,652.42

2,722.50

2,721.08

511.02 - 4,075.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	13:19:07	0.090000	2,737.42	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

13:19:07

0.090000

2,737.42

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,308,850.67	485.11	MKR	MKREUR	MKRGBP	MKRBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,308,850.67

485.11

LUNA Hits ATH After Astroport’s Deployment, Why Terra Could Continue Growing In 2022

21/12/2021 10:00pm

NEWSBTC

Maybe one of the best-performing assets in 2021, LUNA has been trending against the market for the past 2 weeks. While Bitcoin, Ethereum, and other major cryptocurrencies remained rangebound, the native token for the Terra ecosystem re-entered uncharted territories. Related Reading | Terra Begins LUNA Burning, Why It Could Target $140 As of press time, LUNA trades at $87 coming in from a monthly low at $38 which represents almost a 40% increase over that period. As reported by NewsBTC, Terra deployed several improvements on its mainnet in the past months. These included Colombus-5, Wormhole v2, and an Inter-Blockchain Communication (IBC) protocol. The first of these upgrades could be the fuel that has triggered LUNA’s rally as it implemented a burning mechanism into the network. Effectively, this upgrade has turned LUNA into a deflationary asset that will continue to see buying pressure into the future. Per a report by Delphi Digital, the Terra ecosystem has also benefited from the deployment of Astroport, an Automated Market Maker (AMM). The protocol is yet in an early phase but has already seen over $1 billion in capital inflows. This capital injection into Terra’s ecosystem coincides with LUNA’s rally which goes to show the importance of adoption for this token’s performance. Delphi Digital said: LUNA price notched another ATH today before retracing lower. The price increase over the last few days was likely triggered by investors buying spot LUNA to lock up in the Astroport lockdrop, then hedging their position via perpetual futures to remain delta neutral. As the chart also shows, LUNA has the right ingredients to continue its rally: reaching price discovery on negative funding rates for the derivatives sector, which suggests speculators expected more downside in a short time. It remains to be seen if the trend will be able to hold in 2022. Terra (LUNA) And Its Potential To Take Over 2022 LUNA’s ecosystem has displayed strength in other sectors. The network’s native stablecoin UST has been gaining more adoption and could potentially disrupt this sector of the crypto market. Delphi Digital records an increase in market capitalization for UST since December 15th. This stablecoin has been in a close fight with DAI, one of Ethereum’s most prominent assets, as seen below. Delphi Digital added: UST and DAI have been neck-and-neck in terms of market capitalization, with UST briefly overtaking DAI as the 4th largest stablecoin last week. Yesterday, UST overtook DAI more decisively as it had been trading higher for at least the last 24 hours. Related Reading | LUNA Outperforms Bitcoin’s Rally, Why It’s Ready For Massive Gains Christmas is still some days away, but December has already proven itself as one of LUNA and Terra’s most important months in 2021. With solid fundamentals, this network seems poised to continue its upwards trend in the near future.

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