Terra can be considered one of the fastest growing cryptos on the market. Within a very short period of time, Terra’s LUNA made its place in the top ten of cryptocurrencies. In doing so, other popular cryptos such as Shiba Inu, Dogecoin, Litecoin and others pass by.
Interestingly, LUNA is up 85.25% in the past eight days. Well, after a 104.59% decline in value since the beginning of this year, the altcoin has now wiped out most of its losses. Why? Well, because LUNA managed to make a profitable move for its investors, surpassing Cardano’s market cap in doing so.
Passive HIGH
It is a common practice to make a profit through the use of tokens to increase passive income. Staking allows crypto investors to lock down their tokens and play a role in securing the network in exchange for rewards.
Now Terra’s ecosystem (LUNA) has surpassed the platform’s main rival, Ethereum (ETH), according to new figures from Staking Rewards. Here, LUNA rose by more than 77% in one month. This increase brought the total value of the LUNA stake at the time of writing to $30,07,457,209.
Source: Strike Rewards
While doing so, it even surpassed Ethereum which had wagered $28,176,086,261 in total value for Ethereum 2.0. Strikers made about 6.8% annual return by staking their LUNA, compared to 4.8% for ETH.
Additionally, 40.58% of all eligible LUNA was staked, with 7.92% of eligible ETH staked by crypto holders.
This indeed justifies the question. According to Smart Stake, LUNA burned over 29 million for 21 days, signifying increasing demand for UST. Total supply rose from 11,256.43 million on Feb. 9 to 12,942.91 million, an increase of nearly 15%.
At the time of writing, the #7th largest token registered another 1% increase in 24 hours. It traded just under $94.
Now the pertinent question is: Could this small uptick push LUNA further to new heights?
This post LUNA Surpasses Ethereum in Total Value Staked, Exceeds $30,000,000,000
was published first on https://ambcrypto.com/terras-luna-surpasses-ethereum-in-total-value-staked-crosses-30000000000/
