Terra has also had recent success in the Decentralized Finance (DeFi) industry, obtaining significant market share in terms of both market cap and total valued locked (TVL), and has accomplished a new milestone.
According to Staking Rewards, Terra’s LUNA token has become the second-largest staked asset among all major cryptocurrencies in terms of total value staked in the last week. At the time of source writing, LUNA had eclipsed ether, which had a staked value of little over $29 billion.
After jumping by nearly 100 percent in the last week to become the fifth largest cryptocurrency by market cap, the network token LUNA just flipped Solana SOL and Cardano ADA in terms of market size.
Protocol for transferring data between chains Orion.money is the largest staking application that supports LUNA, with over $2 billion in staked LUNA. It has 43,000 stakers who are getting paid.
Terra, a blockchain platform that leverages the dollar-pegged stablecoin UST to construct a worldwide payments system, has issued LUNA as one of two tokens. With an approximately 76,130 percent climb from the market’s lows on March 18, 2020, LUNA was one of the best-performing cryptocurrencies in the past two years.
With approximately $40 billion worth of SOL staked on multiple platforms, Solana’s SOL tokens remain the highest staked currency.
However, in terms of overall value locked in applications developed on its blockchain, ether continues to reign supreme.
According to data from DeFiLlama, Ethereum-based apps have a market cap of over $149 billion, compared to $26.15 billion for Terra-based apps and $7.82 billion for Solana-based apps after bleeding it’s market share to Fantom (FTM) and Avalanche (AVAX) who are now higher up in rankings.