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Yes. Due to the wide acceptance of stablecoins issued on Terra, the native LUNA Coin ranks 9th among all cryptocurrencies, with a current market cap of $29.3 billion. With this, LUNA’s recent price rally has even managed to overtake universally popular and prominent smart contract protocols such as Avalanche (AVAX) and the Binance Smart Chain (BNB).
According to Defi Llama data, Terra is currently the second-largest smart contract platform by the total value of completed transactions. Assets under management have increased by 19.46% in the last 24 hours alone, outpacing its competitors. This puts the protocol ahead of all other Ethereum challengers in this regard.
Despite the current difficult market conditions, this fundamentally positive development is probably the reason why the LUNA price continues to rise without hesitation, while the vast majority of cryptocurrencies are languishing.
Signs of fatigue are not yet evident in the LUNA price. Accordingly, $100 seems to be within reach. Furthermore, the native Terra Coin proves that the crypto market is constantly full of lucrative opportunities even in times like these. The trick is to discover tomorrow’s winners today.