After some losses last week, the total value locked (TVL) in decentralized finance (defi) has recovered in fiat value. According to statistics, the $248 billion TVL in defi has increased 3.46 percent in the last 24 hours, and the blockchain Terra has surpassed the Binance Smart Chain in terms of TV in defi.
The Defi Value of Terra Protocol Increases and LUNA Reaches an All-Time High
The Terra protocol has been making waves, with the native crypto asset (LUNA) on the blockchain increasing by over 45 percent in the last week. LUNA is now the ninth-largest crypto asset in terms of market capitalization, having recently reached an all-time high (ATH). LUNA has recently surpassed the Binance Smart Chain (BSC) in terms of TVL in defi, in addition to its recent ATH.
BSC was the second-largest blockchain network in terms of defi TVL for the majority of the year. On the other hand, the Terra protocol has recently surpassed BSC by a few billion dollars. According to defillama.com, Terra’s TVL is around $19.34 billion today, while BSC is around $16.67 billion on Tuesday. Terra TVL is 16.01 percent larger in defi than BSC, and it has increased 65.99 percent in the last week.
The Aggregate Value Locked Across All Chains in Terra TVL is 7.79 percent of the Aggregate Value Locked Across All Chains in Defi
Terra’s native token LUNA has reached new price highs, and Terra protocol’s stablecoin UST has increased the number of tokens in circulation. UST recently surpassed the stablecoin DAI, according to Bitcoin.com News, and 30-day statistics show that UST has increased by 29.2 percent. Today, tether (USDT) is LUNA’s most popular trading pair, accounting for 62.25 percent of all LUNA trades, with BTC accounting for 14.81 percent of all trades.
BUSD (10.42 percent of all LUNA trades), BNB (3.49 percent), USD (3.09 percent), and KRW (3.09 percent) are all strong global pairs for LUNA (2.55 percent ). Binance, Okex, Kucoin, Huobi Pro, and Bithumb Global are the most active exchanges for trading LUNA today. While the Terra protocol’s defi TVL has increased significantly, it still has a long way to go to catch up to Ethereum’s defi TVL.
Ethereum currently has $155.2 billion, or 62.58 percent of the $248 billion in defi. Terra protocol’s TVL in defi accounts for only 7.79 percent of the total $248 billion locked in defi, while BSC accounts for 6.72 percent. Other decentralized finance TVLs that have increased significantly in the last seven days include Avalanche (19.25 percent) and the Chronos (CRO) network (16.29 percent).
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