Ethereum Killer Terra (LUNA) Reaches Major Milestone in DeFi: Details

Terra (LUNA), the second largest blockchain by total volume of assets locked across all DeFi protocols, is on the eve of capturing a double-digit share of the global Web3 ecosystem.

Terra (LUNA) is now responsible for almost 10% of all of DeFi’s TVL

According to data by DeFi Llama tracking platform, Terra (LUNA), which is the most popular blockchain for dApps outside of Ethereum, is getting closer to a historic milestone.

What if I told you @terra_money was on the verge of capturing 10% of all the TVL in DeFi?#2ndbiggestchaininthewurld $LUNA pic.twitter.com/JBWH9Bfvzf

— ? redphonecrypto (@redphonecrypto) February 25, 2022

For the first time in its history, its share of DeFi’s aggregated TVL can surpass 10%. Ethereum, a flagship smart contracts hosting platform, is in charge of 56.7% of this volume.

Ethereum and Terra are followed by BNB Chain (formerly Binance Smart Chain), Avalanche and Fantom. In all, three platforms are responsible for 16% of the DeFi ecosystem’s TVL.

Terra’s flagship protocol, Anchor, which made headlines with its 19.6% APY for stablecoins, is the largest DeFi protocol on Terra. It is one step short of reaching $10 billion in TVL.

LUNA leads market recovery, prints 25% surge

Staking platform Lido, Astroport and TerraSwap DeFis follow Anchor on the leaderboard.

As covered by U.Today previously, LUNA, a core native asset of Terra blockchain, is the leader of today’s crypto market upsurge. Being up 25%, it paves the way for all large caps.

Cardano and Solana are also in the green today with double-digit upsurges.

In early Q1, 2022, Terra (LUNA) was mentioned among the top undervalued assets by a number of crypto analysts and entrepreneurs.