Cryptocurrency News & Updates

Terra Climbs Past $100 Amid Fresh Listing with 7.5 Million LUNA Tokens Burnt


Terra Luna records 55% increase following its return to above $100 amid a fresh listing

Terra LUNA has smashed the $100 mark, establishing new records for all-time highs at $101.50 on December. 24. Binance is a leading cryptocurrency exchange, has announced a UST listing. More than 7.5 millions LUNA tokens were burned in the past five days, as per Terra’s smart stakes information.

The value of LUNA the native token of Terra is steadily rising to $100 and has seen an increase of 55% within a week, as per CoinGecko information. LUNA has also risen 132.6 percent since December, and 21,508% over the year. It currently has a market cap in the range of $36.58 billion, which is able to maintain its spot among the top 10 most popular cryptocurrency projects.

The month of October was when Terra made public the announcement of the proposal 44 to burn around 90 million tokens that are held in the pool of community. LUNA token burn is continuing at the same pace, having 7.5 million burned over the past five days.

In addition to achieving the highest price ever recorded, Terra (LUNA) has also set records in value set at $21 billion according to the DefiIlama information.

At the beginning of December the Terra’s TVL was approximately $11.9 billion, which is an increase of nearly 100% within a mere month. It could be that people are locking large sums of money into the system to get the rewards of staking. Regarding TVL, Terra is now the second largest DeFi network, just below Ethereum and even higher than Binance Smart Chain.

The Binance list Terra UST

The cryptocurrency exchange Binance announces it’s scheduled to offer TerraUSD (UST) along with also open trading for UST/BTC, BUSD/UST and the UST/USDT trading pair on Dec. 24. TerraUSD (UST) can be described as an uncentralized stablecoin that is part of the Terra blockchain. To mint 1 TerraUSD coin, 1 dollar worth of reserve assets, LUNA, must be burned.

Its and Christmas $UST on @binance

There is no reason to expose your online money to the risk of censorship

Happy holidaysto all!

— Do Kwon (@stablekwon) December 24, 2021

According to U.Today reported, Terra LUNA seeks to continue its uptrend for the foreseeable future until the market is able to prove overbought. At the time of publishing, LUNA was changing hands at $99.84 in the last 24 hours, which is an increase of 15.74 percent in the past 24 hours.


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