While digital currencies jumped in value during the early morning trading sessions on Friday (ET), the new Terra token, LUNA 2.0, jumped more than 200% in value against the U.S. dollar. LUNA jumped from a low of $1.90 per unit to a high of $6.87, but the token’s value has slipped to the $5.41 per unit range following the high.
Terra’s Phoenix Blockchain Token LUNA Rallies by 200%
Bitcoin managed to jump 9.4% higher today, rallying above the $21K zone while ethereum increased 4.9%, surpassing the $1,700 per unit range. Amid these jumps, Terra’s LUNA, the new luna token issued by the Phoenix blockchain, increased more than 200% on Friday against the USD.
Presently, LUNA is up 175.2% after dropping from the 24-hour high on Friday. 14-day stats indicate LUNA has increased 224.1% against the dollar and the coin has an overall market valuation of around $978 million.
Since the spike LUNA has seen $2.55 billion in global trade volume on Friday as it’s the seventh largest volume out of all the coins in existence today. Luna classic (LUNC) is the sixth largest token in terms of 24-hour trade volume as LUNC has printed $2.81 billion in global trades.
LUNC is up 69.5% during the last seven days, but it lost 13.6% during the past 24 hours. The once-stable coin UST (now known as USTC) is close to a U.S. nickel in value at $0.047 and has increased by 4% against the dollar on Friday.
USTC jumped 27.3% during the last seven days and two-week statistics show USTC is up 55.9%. Terra’s former stablecoin has a $461.67 million market cap and $211.24 million in global trade volume today.
57% of LUNA trades today were swapped with tether (USDT) which was followed by BUSD with 32% of all LUNA swaps. The Turkish lira (TRY) has 7.15% of all LUNA trades today which is followed by USDC’s 2.27%.
The U.S. dollar represents 0.83% of all the global LUNA swaps on Friday followed by EUR, ETH, and USDD.
Terra 2.0’s decentralized finance (defi) total value locked also doubled in size on Friday jumping from $24.72 million to $51.48 million. Riskharbor and Astroport are Terra’s largest defi applications in terms of TVL.
Riskharbor currently commands $33.59 million in value while Astroport captures $16.7 million. The Terra defi application Stader currently has $2.61 million locked, according to defillama.com metrics on Friday.
What do you think about Terra’s LUNA 2.0 jumping more than 200% in value on Friday? Let us know what you think about this subject in the comments section below.