Terra (LUNA) Surpasses Ethereum to Become the Second Most Deployed Asset

Over the past week, the surge in price in the LUNA token has made it the second most betting primary digital currency in TVL, leaving Ethereum behind. In addition, a data source reported this data showing that Terra’s LUNA coin has surpassed the Ether coin, which currently has more than $28 billion in Total Value Locked.

According to the data report, the Terra crypto project has more than 226,325 strikers, accounting for $29.5 billion in LUNA tokens staked. Thus pushing the network to second place, towering above Ethereum.

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Staking Rewards also released a report showing that the LUNA recently outperformed the ETH coin based on its network’s Total Value Locked-up. The data showed that LUNA had locked over $29.5 billion worth of LUNA tokens for staking. In contrast, Ether has $25.9 billion locked in for staking within its network.

Other Regions Where Terra Outperforms Ethereum

The platform’s data shows that LUNA has over 226,325 token strikers. It recently moved up that position and toppled over four times the number of ETH strikers at 54,768. Terra is currently following Solana hard, with a total worth of more than $35 billion.

ETH Rises Above $2,500 | Source: ETHUSD on TradingView.com

LUNA is evaluated to reward users an average of 6.62% of their investments for annual strike earnings. However, ETH offers 4.81% in strike rewards, which are relatively lower than Terra’s strike incentives. Of the top 10 cryptocurrencies deployed, the most rewarding crypto is the Polkadot (DOT) project which offers 13.92% on average.

The crypto betting platform, Deploy Rewards, highlighted LUNA’s win over ETH on Tuesday. While some crypto users were still arguing that data from DefiLlama contrasts with the numbers.

From DefiLlamas data, Ethereum still trades above its competitors in TVL (total value locked) worth $111.4 billion.

In addition, on the other hand, the total locked-in value of LUNA was $23.35 billion. These values ​​include the total collateral locked through DeFi (Decentralized Finance) protocols, not only ETH staked ETH on the crypto betting platform, Beacon Chain, but also the differences.

currently, beaconcha.in The explorer’s data shows that more than 9.7 million ETH tokens have been staked, rising to $26.5 billion, according to Staking Rewards data. A similar trend that the two aggregators have identified is that LUNA values ​​have recently been boosted.

In the past week, LUNA’s TVL has grown by 26.905%. And it has risen above the BNB Smart Chain, which has a TVL of $12.03 billion and is currently in third place.

Payout rewards define differences between TVL stats and staked value

The data aggregator, Staking Rewards, has explained notable differences between TVL stats and value staked. The TVL metrics include total assets stored in DeFi protocols for components such as lending.

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In the past month, LUNA’s price is up 78.4% and it currently trades at $89, with a market cap of $34.5 billion.

Featured image from Pixabay, chart from Tradingview.com

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