Since August, Terra (LUNA) has shown gains, climbing from $ 5 to $ 80. Even during the bearish period last month, LUNA has shown slight gains.
The Terra network focuses on stablecoins pegged to fiat currencies, in particular UST coin, helping them maintain price stability.
The massive adoption of tokens is one of the reasons the LUNA network avoided a market crash earlier this month. At the same time, other altcoins went through serious periods of stagnation and decline.
Note that the Terra community proposed to burn about $ 4-5 billion of LUNA coins. This move played an important role in the bullish movement of the token, maintaining high demand for the coins.
In this regard, in the first week of December, LUNA set a new all-time high, with an annual growth rate of more than 15,862%.
At the time of writing, Terra is trading at $ 74.32 with a 6% daily gain on a 24-hour trading volume of $ 2.04 billion. LUNA is currently ranked 9th on CoinGecko’s rankings with a market cap of $ 28 billion.
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