There is a partial lunar eclipse in Brazil. Ueslei Marcelino.
Ueslei Marcelino.
Terraform Labs' luna has jumped into the top 10 cryptocurrencies by market cap.
Even though the coin slumped about 6% Monday, it still showed a 25% gain in the last seven days, giving it a market cap of about $25 billion.
The valuation is far from the top one. The original digital token has a valuation of $1 trillion despite its 30% plunge from its November highs.
Dogecoin and shiba inu, both of which have fought for spots in the top 10, sat at No. 11 and 13 respectively.
terra uses stable coins to run its payments system and uses the luna token to keep the price of the protocol's stable coin, TerraUSD, stable.
Defi investors are looking for alternatives. That's one of the reasons that coins such as luna, solana, and avalanche have been on the rise.
Luna has soared more than 12,000% in the last year, with most of the rally coming in the last four months. The data show that Solana has risen 9,500% in the past year.
Business Insider has an original article.
