Terra (LUNA) Is Now The Second Chain With Most TVL

LUNA has been one of the biggest gainers since the last bull run started, on March of 2021, Luna was priced at more or less 3 dollars, today LUNA is priced at 93$.

This huge gain in price has everything to do with staking and Terra stablecoins. The APY for staking LUNA is high, but the APY for staking UST is almost 20%, this made many investors come to this chain after seeing that there wasn't any exploit waiting to happen.

Looking at Defillama today the scenario for LUNA is pretty promising, it ranks in the second place of chains with more TVL (Total Value Locked). Although the comparison isn't the best because ETH2.0 still didn't launch, LUNA has more TVL than ETH2.0.

Terra sits comfortably at second place with 23.5 billion dollars in TVL. The gap to ETH is a lot, ETH has a TVL of 116 billion dollars and sits as the most used chain in DeFi. The gap to the third place is big aswell, BSC sits at the third place with 12.31 billions of dollars in TVL. It seems like the second place is secure by a large margin, more than 10 billion dollars.

The most used Dapp is Anchor protocol, Anchor alone has 10 billion dollars locked in its protocol, almost as much as the whole Binance Smart Chain. Of course this is the protocol that provides the 20% APY for UST.

Although right now UST is a big opportunity for grabbing a high APY, this type of APY usually doesn't last forever and some day the rate will drop, the question is, will Terra be able to keep this billions of dollars on the blockchain after this happens? We will have to see how this evolves and what kind of opportunities will surge on the Terra (LUNA) blockchain. For now Terra has promised and delivered.

Best Regards,

Cryptopeach