Terra Is Attracting Large Share Of DeFi Market
LUNA’s 50% increase in the last week has made it one of crypto’s most popular coins. With $34 billion worth, Terra (LUNA) currently occupies a seventh place on Coinmarketcap, and even more, headlines are making themselves known with this rise to fame. Not only did the token shoot up past Solana ($32B), but also Cardano ($31B), who sit eighth & ninth respectively now that their rankings have changed due to LUNA’s hipe. LUNA is the token that fuels the DeFi ecosystem. However, the real product is stablecoins, like UST, which pegs its value to dollars. Also protects against volatility....
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Projects migrating from Terra to other ecosystems have made an example of how to adapt and regenerate after a catastrophic blockchain collapse. At the height of the 2022 bull market, the Terra ecosystem was booming with talent and innovation. The native token of the Terra blockchain had made its way to the top-10 cryptocurrencies by total market capitalization. Protocols were building the next iteration of a super cycle that seemed like it would never end. Terraform Labs created Terra amid the crypto market crash of 2018 and built it all through the bear market. The Terra ecosystem’s main....
Following the Terra blockchain fallout and the great UST de-pegging event, the Terra network ecosystem is now a wasteland of almost worthless tokens and protocols. While both UST and LUNA were top ten crypto market cap contenders, Terra’s decentralized finance (defi) presence was second to Ethereum in terms of total value locked. Today, the remaining Terra-based token holders and defi protocol operators seem to be waiting for a miracle.
Terra’s Token Economy Has Lost 96% of Its Value
There’s been an abundance of news surrounding the Terra blockchain fiasco....
The total value locked (TVL) in decentralized finance (defi) has rebounded in fiat value after suffering some losses last week. Statistics indicate that the $248 billion TVL in defi has increased 3.46% during the last 24 hours and the blockchain Terra has overtaken the Binance Smart Chain in terms of TVL in defi.
Terra Protocol’s Defi Value Swells, LUNA Taps an All-Time High
The Terra protocol has been making waves as the blockchain’s native crypto asset (LUNA) has increased more than 45% over the last week. The digital currency recently tapped an all-time high....
GoodFi, a not-for-profit organization with the mission of getting 100m people into DeFi by 2025, today announced leading DeFi projects Terra, Bancor, Polygon, and The Graph are joining the initiative. These new GoodFi members join existing DeFi leaders such as Aave, Radix, Sushiswap, and Chainlink as they today unveiled their latest initiative to make DeFi […]
Mirror Protocol, a DeFi application built on the old Terra blockchain, was attacked by a $90 million exploit in October 2021, and it remained entirely undiscovered until last week. The attacker was able to unlock collateral from the protocol multiple times while just paying a little fee each time. Terra’s DeFi Attacked Seven Months Ago […]