Terra Network (LUNA) TVL Hits ATH at $20 Billion, Surpasses Binance Smart Chain

Terra Network (LUNA) TVL Hits ATH at $20 Billion, Surpasses Binance Smart Chain

Terra’s Defi activity is skyrocketing, with network TVL and LUNA’s price both touching all-time highs this week.

Terra – a popular open-source stablecoin network – recently surpassed $20 billion in TVL across its Defi protocols. It now holds more locked value than Binance Smart Chain (BSC).

  • According to Defi Llama, TVL on Terra began ramping up in late November and early December. By December 16th, the network had over $13 billion locked up.
  • Value began pouring in after that, accruing another $3 billion within just 3 days. TVL peaked on Wednesday at over $20 billion and now sits at $19.58 billion.
  • This is well over the value currently locked on BSC, which has been stuck under $17 billion over the last two weeks.
  • Terra now has the second-highest TVL of all networks listed on Defi Llama. It is only dwarfed by Ethereum, which dominates Defi with a TVL of $156 billion.
  • Value has largely accrued to the TerraSwap and Anchor (ANC) protocols, which have undergone 89% and 44% TVL increases over the last 7 days.
  • LUNA’s price has soared as well. It recently tapped an-all time high above $97 following a 50% rise on the week. It has since pulled back to $87, according to Binance.
  • The recent price push has put Terra among the top ten crypto’s, pushing out Polkadot as #9.

    Terra TVL. Source: DeFi Llama

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