LUNA, the native token of Terra’s blockchain, had almost reached a price of $100 a few hours ago earlier in the day only to fall back to nearly $85.
LUNA price, +20% for Terra’s token
According to CoinMarketCap’s data, LUNA has gained more than 20% in a single week, in a not exactly bullish market, given that Bitcoin lost 5% in the same period.
But why this boom in LUNA’s price?
Surely one of the reasons is to be found in the resounding success of projects related to the world of Non-Fungible Tokens (NFT) and the metaverse.
And, in fact, good news for the Terra project is not lacking. First of all, Terra in the last days has surpassed Binance Smart Chain as volumes, becoming the most used blockchain of DeFi only after Ethereum. In fact, the Total Value Locked (TVL) on Terra has exceeded $20 billion, while that of Binance Smart Chain is stuck at less than $17.
Also contributing to Terra’s success in all of this has been the collaboration with one of NFT’s best-known projects, the Bored Apes Yacht Club, who landed on this metaverse with their own video game to win five limited editions of digital monkeys.
The metaverse tokens
During the last month, the cryptocurrency of another metaverse has also marked interesting growths. We’re talking about SAND from The Sandbox, which has seen its price reach over $8 – marking its all-time high (ATH), although it’s currently down around $5.
Decentraland’s MANA during the last month has also seen its price record come close to the $6 mark while now hovering around $3.
Meanwhile, the Italian project OVR also reached its ATH last December 2, marking a value of over $3.
It’s a pretty good moment for metaverse projects, especially after Facebook has started to clear customs in the sector with its META.