Terra’s LUNA Passes Ether to Become Second-Largest Staked Asset

A price surge in Terra’s LUNA token over the past week has made it the second-largest staked asset among all major cryptocurrencies in terms of total value staked. By shauryamalwa

A price surge in Terra’s LUNA token over the past week has made it the second-largest staked asset among all major cryptocurrencies in terms of total value staked, according to data. LUNA surpassed ether, which has just over $28 billion in staked value, at the time of writing.from Staking Rewards show over $30 billion worth of LUNA is now staked directly on various protocols, representing a majority of the token’s $34 billion market capitalization.

LUNA is one of the two tokens issued by Terra, a blockchain protocol that uses dollar-pegged stablecoin UST to build a global payments system. LUNA was among the best performing cryptocurrencies in the past two years with a nearly 76,130% rise since lows of $0.12 on Mar 18, 2020.

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