Terra Shoots To The Moon As Reaching 30 Billion Dollars Of Market Capitalization

Terra’s total value has reached the $30 billion mark. Its price is approaching its all-time high amid a wider crypto market recovery. According to StakingRewards, 40.5% of the circulating supply of LUNA is being held by individuals who help secure the network. Terra is a blockchain project developed by Terraform Labs, a South Korean company founded in 2018. Its mainnet was launched in April 2019, and its native token, LUNA, started seeing a bit of a price boost. Terra is a distributed ledger project that enables users to issue stablecoins through its decentralized applications. Its price has also gained due to its support for smart contracts and decentralized applications.

Last year, the community of LUNA approved a governance proposal that would permanently burn the tokens from the community pool and use them for Terra’s USDT stablecoin. Almost all of Solana’s circulating supply is being held for a 5.93% yield, significantly lower than the 81% yield recorded in November of 2021. According to Coinbase, the potential double-digit yield of Ethereum after the network merge with Ethereum’s mainnet will likely happen in June of this year.