far behind bitcoin
Luna’s market cap is still well below the top cryptocurrency, Bitcoin. Bitcoin is down 30 percent from its November highs. But its market capital is still close to 1 trillion dollars. Dogecoin and Shiba Inu, which previously competed for being among the top 10 cryptocurrency spots, are now ranked at number 11 and 13 respectively. At the same time, the avalanche called “Ethereum Killer” is at number 12.
was launched in 2018
The Tera blockchain, launched in 2018, uses stablecoins to power its payment system and the protocol’s algorithmic-backed TeraUSD stablecoin, the Luna token to stabilize the price of UST. In the decentralized finance world, Terra is growing rapidly with faster transactions and lower fees and Ethereum is holding the market share.
12000 percent return
According to CoinGecko, Luna has achieved growth of over 12,000% in one year, with most of the uptick in the last four months alone. If someone had invested Rs 1 lakh in this a year ago, then his investment value would have exceeded Rs 1.20 crore based on the return of more than 12000 per cent. The data shows that Avalanche has given 2,400% returns in one year, while the fifth-largest cryptocurrency Solana is up 9,500%.
Luna’s Highest Level
On December 4, Luna touched its all-time high of $75.56, and its market cap reached an all-time high of $29.3 billion at this level. At the beginning of the year, Luna was valued at $300 million. In July, the coin saw its first rally, when its market cap increased to $2.6 billion. In the last six months alone, Luna has registered 900% growth.
How did you get promoted
Experts say that crypto investors look for a more efficient and less expensive alternative than Ethereum. Smart contracts and decentralized finance have fueled alternatives such as Avalaunch, Solana and Luna. The price of Avalanche has increased by 368% in the last 6 months, while the price of Solana has increased by 346%. Over the past weekend, many investors saw the crypto rally as an opportunity to raise their capital and sold off, leading to a decline in crypto.
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