LUNA holds 7th position in the crypto market after surpassing Solana and Cardano in market capitalization. With a market cap of $34 billion, LUNA sticks to 7th position by pushing SOL and ADA in at 8th and 9th respectively.
Currently, few projects in the crypto market are getting so much investment and popularity. LUNA is one of these projects as it is growing very rapidly due to its better fundamentals. After a long bearish cycle, the crypto market has seen major reshuffling. In this reshuffling, LUNA is outperforming SOL and ADA continuously. LUNA holds 7th position in the crypto market after surpassing two major players like SOL and ADA.
LUNA holds 7th position in crypto market:
Data from CoinGecko shows that LUNA holds 7th position in the crypto market with a market cap of $34 billion. Several reasons have come for this impressive run LUNA’s native token Terra has seen. The most important reason is the novel use case and mode of operation of the Terra. The flagship stablecoin on Terra is the dollar-pegged Terra USD (UST). UST is currently the 4th biggest stablecoin in the crypto market with a valuation of over $13 billion. LUNA and UST play key roles in the Terra ecosystem.
The climb LUNA has seen is coming after the blockchain has been growing in popularity. Santiment previously pointed out that the social media mentions of Terra have been on the rise. The social sentiment tracker said it expected to see at least a 20% to 30% increase in the price of LUNA. LUNA is currently trading around $93 and is up more than 6% in a day. Read more content here.