Looking at the total value locked in blockchains, it seems that Terra has made very rapid progress.
Total locked value on Terra ranks third after Ethereum and BSC. In fact, as of January 11, Terra seems to have caught BSC. The locked value on BSC is $19.63 billion, while the locked value on Terra is $19.11 billion. However, while Terra reached this value with only 17 protocols, the total number of protocols of BSC was recorded as 277. In other words, although the number of protocols in Terra is quite low, the TVL value is quite high.
When the 5 largest protocols on Terra are examined, it is seen that Anchor and Lido protocols take the lead.
When the 5 largest protocols on BSC are examined, Pancake Swap and Venus come first.
Terra's algorithmic stablecoins have a rapidly growing ecosystem. If South Korea's giant gaming community joins this, it would not be wrong to predict that Terra will do much better in the future.
Terra broke the record with 65.05% growth rate and $19.11 billion TVL, taking 6.67% of the market. Terra surpassed Avalanche and Solana with this growth.
In the week of December 20-27, Terra even surpassed Binance, the second largest chain in terms of TVL. However, BSC soon regained second place.
Terra Price and Market Data
Terra price today is $74.10 and a 24-hour trading volume is $2,251,586,242. The price has increased by 6.1% in the last 24 hours. There is a circulating supply of 360 Million LUNA coins, with a total supply of 829 Million coins. Binance is currently the most active market where this is traded.
Terra is a decentralized financial payment network that rebuilds the traditional payment stack on the blockchain. Luna is the reserve currency of the Terra platform. It has three core functions: i) mine Terra transactions through staking, ii) ensure the price stability of Terra stablecoins and iii) provide incentives for the platform's blockchain validators.