@BOMBERuss 22 December 2021 more from that month

LUNA, Terraform Labs' native coin, is reaching new heights. Algorithmic altcoin has grown by 15% in the last 24 hours and by 40% in 2 weeks. During the week, LUNA was able to break historical highs, and now the altcoin's new goal is to reach $100. LUNA is now the 9th largest cryptocurrency on the market, located just below the USDC stablecoin. After the coin rose to its previous ATH of $81.08 just 2 days ago, analysts predicted that its price would fall as a result of profit-taking and large-scale sales. However, investors are rewarded for their patience, as the Terra mechanism helped the token soar above the $90 mark. Altcoin has been growing all month, while the entire cryptocurrency market has been falling. Terra surpassed the Balance Smart Chain (BSC) in TVL (total value blocked), becoming the second largest DeFi network after Ethereum. At this point in time, $ 20.63 billion is blocked on the Terra blockchain, which is almost 4 billion more than Binance Smart Chain. This is the largest TVL Terra to date, which indicates that investors constantly hold assets in the blockchain. The burning rate of the Terra token is also exceptional. LUNA's turnover supply has decreased by almost 30 million per month, amid growing demand in the network. This is a key factor in the growth of the price per coin. Moreover, Terra burns $4.5 billion worth of LUNA for every 800 blocks produced, in order to simplify its economy and increase the reward for stacking. Based on this, we can conclude that these are the driving factors of the recent incredible growth of the cryptocurrency. Earlier today, the token reached its latest all-time high of $97.90. At the moment, LUNA is trading at a price of $ 95.21, but it is obvious that the bar of $ 100 per token looks inevitable.