LUNA reaches another ATH: it has gained 2700% since May 

The total value locked on the Terra blockchain rose to nearly $ 14 billion when LUNA hit a new all-time high after gaining 2700% since the May crash.

While the broader cryptocurrency market is still grappling with last week's bearish trends, LUNA, the native cryptocurrency of the Earth ecosystem, is currently one of the best-performing assets on the market.

According to data from CoinGecko, LUNA has gained over 50% in the past seven days and, despite the weekend slump, hit a new all-time high (ATH) of $ 77,7 earlier today.

LUNA's bullish trend over the past few weeks has been impressive and surprising, as the coin was one of the hardest hit cryptocurrencies during May's massive sell-off.

LUNA has gained 2700% since the collapse in May

LUNA went down after the May 2021 slump, with its price slashing about 81% of its value in the heat of the sell-off, eliminating TerraUST (UST).

However, the coin made a rather dramatic comeback, hitting highs after highs and 10x outperforming the second largest cryptocurrency, ETH. Since May, LUNA has seen a 2700% increase in value, with ETH only seeing a 270% increase since the collapse.

LUNA has also surpassed some of the trending coins on the market, including meme-inspired coins, DOGE and Shiba Inu.

At the time of writing, LUNA is the 67th largest cryptocurrency, trading at $ 26,56 with a market cap of $ XNUMX billion.

Terra's TVL reaches $ 13,9 billion

Terra, LUNA's native blockchain ecosystem, was also not excluded from the bullish trend. The leading decentralized finance (DeFi) blockchain network has also recently reached a new milestone.

According to a recent tweet from Wu Blockchain, Terra's Total Blocked Value (TVL) recently hit $ 13,9 billion, up 43% weekly.

With this latest development, Terra is currently the third largest DeFi blockchain, right after Ethereum and Binance Smart Chain (BSC). The network managed to overtake Solana and Avalanche on the list in the past two days, with a growth rate of 42,9% over the past 7 days.

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