LUNA Hits ATH After Astroport’s Deployment, Why Terra Could Continue Growing In 2022

Maybe one of the best-performing assets in 2021, LUNA has been trending against the market for the past 2 weeks. While Bitcoin, Ethereum, and other major cryptocurrencies remained rangebound, the native token for the Terra ecosystem re-entered uncharted territories. Related Reading | Terra Begins LUNA Burning, Why It Could Target $140 As of press time, LUNA trades at $87 coming in from a monthly low at $38 which represents almost a 40% increase over that period. As reported by NewsBTC, Terra deployed several improvements on its mainnet in the past months. These included Colombus-5, Wormhole v2, and an Inter-Blockchain Communication (IBC) protocol. The first of these upgrades could be the fuel that has triggered LUNA’s rally as it implemented a burning mechanism into the network. Effectively, this upgrade has turned LUNA into a deflationary asset that will continue to see buying pressure into the future. Per a report by Delphi Digital, the Terra ecosystem has also benefited from the deployment of Astroport, an Automated Market Maker (AMM). The protocol is yet in an early phase but has already seen over $1 billion in capital inflows. This capital injection into Terra’s ecosystem coincides with LUNA’s rally which goes to show the importance of adoption for this token’s performance. Delphi Digital said: LUNA price notched another ATH today before retracing lower. The price increase over the last few days was likely triggered ...