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Terra (LUNA) hits record $20B TVL, surpassing Binance Smart Chain
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Terra (LUNA), an open-source stablecoin network, hit an all-time high of $20.05 billion in total value locked, or TVL, across its 13 product offerings, according to industry data. On Dec. 1, Terra's TVL was at $11.9 billion, signifying a 68% increase in less than a month. This means that the platform's users are investing in large quantities into the protocol to receive staking rewards.
The price of LUNA, Terra's native token, is also steadily trending upwards, trading above $94 with a 31% increase in one week, according to Cointelegraph Markets Pro. The coin now has a total market capitalization of $34.8 billion, placing it in the top 10 crypto projects.
In terms of TVL, Terra is now the second-largest DeFi network below Ethereum and above
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