The global currency market has been on a quest to make the most of the new quarter. Which is now just over a fortnight. Therefore, the city folks have been prioritizing capable digital assets, for higher returns. That being said, given that altcoins now make up a significant portion of the investor portfolio. Investors have been analyzing the statistics of various alt. Successively Terra (LUNA) is now a “must not miss” digital asset for community insiders. As the altcoin trumps the likes of Ethereum and Solana in terms of participation. Furthermore, the digital asset that establishes a new ATH in terms of TVL raises the bar for LUNA. Consequently, people put an aggressive eye on the price, which recently shot up to ATH.
Is erra the new Ethereum killer?
Terra has been one of the most visited and trending digital assets on a prominent cryptocurrency price analysis platform. Which justifies the growing role of altcoins. Terra has been performing at an amazing level since last week. With its listings, voting, analysis and other highlights. Subsequently, the week saw Terra reach the ATH in terms of TVL and price. The total TVL according to DeFillama, at the time of publication is $27.94 billion. Terra occupies the second position by market share with 11.35%. Terra’s TVL dominance is mostly in the hands of Anchor with 54.80%. The other two top performers are Lido Finance and Astroport. LUNA recently traded Ethereum with a $31.6B stake. Highlights of the week include Kraken’s support of LUNA staking, the launch of the C2X metaverse via FTX. Kado raises $5.4M from strategic partners, launch announcement of Atlo and Lun Art, among others. In contrast, recent research by Messari cites that, of the top 30 assets, Terra had the highest outstanding market cap. Consequently, LUNA’s volatility has been traversing south lately. Which was recently down around 55% for the entire day on March 11. In contrast, social sentiments have seen negligible change over the week.
According to sources, social volume was up 3.1% for the week, while social engagement was up 9%. That said, bullish sentiment is up 2.5%. In short, the aforementioned factors have been driving the excitement among investors and traders. Since the project offers a mix of smart contracts and DeFis, it will continue to attract investors. With that being said, we can expect LUNA to eat candles towards its ATH once again. Hopefully current sentiments will help the asset push higher mid-week.