Although digital currencies experienced a significant increase in value in the morning trading session on Friday (ET), Terra token, LUNA 2.0, saw a more than 2000% rise in its value relative to the U.S. Dollar. LUNA jumped from a low of $1.90 per unit to a high of $6.87, but the token’s value has slipped to the $5.41 per unit range following the high.
Terra’s Phoenix Blockchain Token LUNA Rallies by 200%
- Bitcoin reached 9.4%, gaining above $21K, and ethereum climbed 4.9% to reach the $1700 per unit mark. Amid these jumps, Terra’s LUNA, the new luna token issued by the Phoenix blockchain, increased more than 200% on Friday against the USD.
- Currently, LUNA has risen 175.2% since falling from Friday’s 24-hour peak. LUNA’s 14-day statistics show that it has increased 224.1% against USD and has an overall market value of approximately $978 million.
- Since the spike LUNA has seen $2.55 billion in global trade volume on Friday as it’s the seventh largest volume out of all the coins in existence today. Luna classic (LUNC), the sixth most valuable token, has seen $2.81 Billion in worldwide trades in 24 hours.
- LUNC has increased 69.5% in the last 7 days but lost 13.6% over the past 24 hours. The once-stable UST coin (now USTC), is now close to a U.S. Nickel in value at $0.047. It has also increased by 4% against a dollar on Friday.
- USTC increased 27.3% over the previous seven days. Two-week statistics also show that USTC was up 55.9%. Terra’s former stablecoin has a $461.67 million market cap and $211.24 million in global trade volume today.
- 57% today’s LUNA trades involved swapping with tether ($USDT), which was followed closely by BUSD (32% of all LUNA exchanges). The Turkish lira (TRY) has 7.15% of all LUNA trades today which is followed by USDC’s 2.27%.
- On Friday, the U.S. Dollar represented 0.83% in all global LUNA Swaps. It was followed by EUR and USDD.
- Terra 2.0’s decentralized finance (defi) total value locked also doubled in size on Friday jumping from $24.72 million to $51.48 million. Riskharbor and Astroport are Terra’s largest defi applications in terms of TVL.
- Riskharbor is currently worth $33.59 Million, while Astroport is valued at $16.7 Million. According to defillama.com analytics, Stader’s Terra defi app currently holds $2.61million.
What do you think about Terra’s LUNA 2.0 jumping more than 200% in value on Friday? Comment below and let us know how you feel about the subject.
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