Terra (LUNA) Hits $21B TVL, Overtaking BSC as Luna Shines

The decentralized finance ecosystem is buzzing! Terra (LUNA) has emerged as one of the big winners so far, with its TVL hitting a new all-time high, now surpassing $21 Billion. This remarkable achievement places Terra ahead of Binance Smart Chain (BSC) in the DeFi landscape.

Decentralized payments network Terra has been turning heads in the crypto market space as Luna has surged more than 45% in the past seven days. Moreover, it has driven significant growth in the Terra ecosystem. Terra, the second-largest DeFi blockchain, saw its total value locked (TVL) jump to a record high on Tuesday amid an increasing number of deposits.

Data from DeFi Terra – a popular open-source stablecoin network – recently surpassed $20 billion in TVL across its Defi protocols. It now holds more locked value than Binance Smart Chain. Terra, an open-source stablecoin network, hit an all-time high of $20.05 billion in total value locked. Now it's even higher at $21 Billion!

This milestone signifies the increasing adoption and trust in Terra's innovative stablecoin technology and its robust DeFi applications. The rise of Luna and the growth of the Terra ecosystem highlight the potential of decentralized finance to reshape the future of finance. The continued expansion of the Terra network demonstrates a strong demand for stablecoin-based solutions and the increasing appeal of DeFi protocols.

Terra (LUNA) hits record $20B TVL, surpassing Binance Smart Chain, and continues its impressive growth trajectory.