{"id":377948,"date":"2021-12-08T05:47:58","date_gmt":"2021-12-08T02:47:58","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/terrausd-ust-adoption-backs-lunas-ascension-to-a-new-all-time-high\/"},"modified":"2021-12-08T05:47:58","modified_gmt":"2021-12-08T02:47:58","slug":"terrausd-ust-adoption-backs-lunas-ascension-to-a-new-all-time-high","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/terrausd-ust-adoption-backs-lunas-ascension-to-a-new-all-time-high\/","title":{"rendered":"# TerraUSD (UST) adoption backs LUNA\u2019s ascension to a new all-time high"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3e1654c4a52\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3e1654c4a52\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/terrausd-ust-adoption-backs-lunas-ascension-to-a-new-all-time-high\/#UST_supply_hits_a_new_all-time_high\" >UST supply hits a new all-time high<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/terrausd-ust-adoption-backs-lunas-ascension-to-a-new-all-time-high\/#Cross-chain_integrations\" >Cross-chain integrations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/terrausd-ust-adoption-backs-lunas-ascension-to-a-new-all-time-high\/#Total_value_locked_on_Terra_hits_an_all-time_high\" >Total value locked on Terra hits an all-time high<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># TerraUSD (UST) adoption backs LUNA\u2019s ascension to a new all-time high <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Stablecoins are an integral part of the the centralized crypto sector and the decentralized finance (DeFi) ecosystems that have sprung up over the course of the past few years because they provide the liquidity needed for traders to easily swap into different assets. They also serve as a shelter against strong downside swings like the 25% correction seen on Dec. 3.<\/p>\n<p>One project with a stablecoin component that has seen its price surge to a new all-time highs despite the wider market pullback is Terra (LUNA), a multi-sector blockchain protocol aimed at building a global payments system through the use of a fiat-pegged stablecoin called TerraUSD (UST). <\/p>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/LUNAUSDT\/\">TradingView<\/a> shows since hitting a low of $37.86 on Nov. 26, the price of LUNA has surged 106% to a new all-time high at $78.43 on Dec. 5 as its 24-hour trading volume spiked to a record $5.66 billion. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/4c817c72-da43-4a9c-af2d-041199cf21a7.png\"><figcaption style=\"text-align: center;\"><em>LUNA\/USDT 4-hour chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Three reasons for the breakout in LUNA price include the increasing supply of UST, a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of new cross-chain integrations for the Terra ecosystem and a surging total value locked (TVL) on the Terra network. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"UST_supply_hits_a_new_all-time_high\"><\/span>UST supply hits a new all-time high<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One of the main drivers behind the strength seen in LUNA has been the rapid growth of the circulating supply of UST, which is now the largest algorithmically-backed stablecoin in the market and the fourth-ranked stablecoin with a market cap of $8.221 billion. <\/p>\n<p>Crypto proponents in favor of decentralized stablecoin options have embraced the use of UST in comparison to its more centralized counterparts USD Coin (USDC), Tether (USDT) and Binance USD (BUSD). <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Crypto project <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/terra_money?ref_src=twsrc%5Etfw\">@terra_money<\/a> ( <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24LUNA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LUNA<\/a> ) has surged 50% in the last week to hit a new all-time high even with bitcoin down 5%<\/p>\n<p>Its algorithmically-backed stablecoin <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24UST&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$UST<\/a> has become the largest of its kind and keeps picking up Web3 adoption as THE DeFi dollar<\/p>\n<p>Why that is huge \u2b07\ufe0f 1\/X <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/LSUeA9HgO6\">pic.twitter.com\/LSUeA9HgO6<\/a><\/p>\n<p>\u2014 Zack Guzm\u00e1n (,) (@zGuz) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/zGuz\/status\/1466492296183099395?ref_src=twsrc%5Etfw\">December 2, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As the popularity of UST grows, many in the field have begun referring to it as \u2018The DeFi dollar\u2019 because it embodies the ethos of decentralization and is slowly spreading across the multi-chain DeFi landscape. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cross-chain_integrations\"><\/span>Cross-chain integrations<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>LUNA is also available across a few cross-chain bridges, making it easier for LUNA holders to invest their in DeFi ecosystems on Ethereum (ETH), Solana (SOL), Fantom (FTM) and Polygon (MATIC)<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">In just 6 weeks, users have sent t$185mm+ of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24UST&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$UST<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24LUNA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LUNA<\/a> through the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/wormholecrypto?ref_src=twsrc%5Etfw\">@wormholecrypto<\/a> . Top destination? <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/solana?ref_src=twsrc%5Etfw\">@solana<\/a> \u2600\ufe0f\u2026 Read more here on the proliferation of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24UST&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$UST<\/a>, powered by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/flipsidecrypto?ref_src=twsrc%5Etfw\">@flipsidecrypto<\/a> bounty program {\u26d3,} <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/9nWww3dBin\">https:\/\/t.co\/9nWww3dBin<\/a><\/p>\n<p>\u2014 jack (@forgash_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/forgash_\/status\/1467265545674182656?ref_src=twsrc%5Etfw\">December 4, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Decentralized exchange aggregator trading volumes surge to new highs<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Total_value_locked_on_Terra_hits_an_all-time_high\"><\/span>Total value locked on Terra hits an all-time high<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Increasing use of LUNA and UST pushed the total value locked on the Terra blockchain to a new all-time high at $14.36 billion on Dec. 5th and LUNA price hit a record-high on the same day.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/42a8ed2c-4ca4-4183-8fcb-ffe6d79767ec.png\"><figcaption style=\"text-align: center;\"><em>Total value locked on the Terra network. Source: Defi Llama<\/em><\/figcaption><\/figure>\n<p>The rapid rise in TVL has resulted in Terra becoming the third-ranked blockchain network in terms of TVL after it surpassed Solana, which has $12.08 billion in value locked on its protocol, while the top-ranked Ethereum network boasts a TVL of $164.72 billion and the Binance Smart Chain has $22.4 billion in value locked on its blockchain.\u00a0<\/p>\n<p>VORTECS\u2122 data from Cointelegraph Markets Pro began to detect a bullish outlook for LUNA on Nov. 24, prior to the recent price rise. <\/p>\n<p>The VORTECS\u2122 Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> activity.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/fadf922a-88fb-486e-86b7-5823d7e4fd15.png\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score (green) vs. CHZ price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 Score for LUNA began to pick up on Nov. 24 and reached a high of 85 around the same time as the price began to increase 106% over the next eleven days.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/terrausd-ust-adoption-backs-luna-s-ascension-to-a-new-all-time-high\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# TerraUSD (UST) adoption backs LUNA\u2019s ascension to a new all-time high &#8221; Stablecoins are an integral part of the the centralized crypto sector and the decentralized finance (DeFi) ecosystems that have sprung up over the course of the past few years because they provide the liquidity needed for traders to easily swap into different&#8230;<\/p>\n","protected":false},"author":1,"featured_media":377949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvOGUyMWEyZTctZTNkMS00YjhhLWI0OGQtNjllODRjYzE1YjExLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,74863,74868,105688,75493,74355,73785],"class_list":["post-377948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-cryptocurrencies","tag-defi","tag-markets-pro","tag-stablecoin","tag-adoption","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/377948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=377948"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/377948\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/377949"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=377948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=377948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=377948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}