LUNA BREAKS ATH: The stock has gained 2700 percent since May’s Crash, with $13.9 billion invested in Terra

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As LUNA struck a new all-time high after rising 2700 percent from the May collapse, the total value locked on the Terra blockchain climbed to roughly $14 billion.

While the larger crypto market continues to struggle with last week’s adverse trends, LUNA, the Terra ecosystem’s native cryptocurrency, is now one of the best-performing assets in the market.

LUNA has risen almost 50% in the previous seven days, according to CoinGecko, and despite the weekend fall, it has reached a new all-time high (ATH) of $77.7 earlier today.

LUNA’s recent upward trajectory has been astounding, considering that the currency was one of the worst-affected cryptocurrencies during the major May sell-off.

Since the May Crash, LUNA has increased by 2700 percent

LUNA’s price plummeted following the May 2021 crash, losing about 81 percent of its worth amid the sell-off, pushing TerraUST (UST) off the peg.

On the other hand, the coin staged a stunning recovery, hitting new highs after highs and exceeding the second-largest cryptocurrency, ETH, by a factor of ten. Since the crash in May, the value of LUNA has increased by 2700 percent, while the value of ETH has only increased by 270 percent.

LUNA has also outperformed some of the market’s hottest currencies, such as the meme-inspired DOGE and Shiba Inu.

LUNA is the tenth most valuable cryptocurrency at the time of writing, with a market capitalization of $26.56 billion and a price of $67.

Terra’s TVL has surpassed $13.9 billion in value

The upward trend also extended to Terra, LUNA‘s native blockchain ecosystem. Furthermore, the main decentralized finance (DeFi) blockchain network has also reached a new milestone.

According to a recent tweet by Wu Blockchain, Terra’s total value locked (TVL) has just reached $13.9 billion, a weekly gain of 43 percent.

Terra is now the third-largest DeFi blockchain, after Ethereum and Binance Smart Chain, due to this recent breakthrough (BSC). In the previous two days, the network has surpassed Solana and Avalanche on the list, with a growth rate of 42.9 percent in the last seven days.

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