Terra – a popular open-source stablecoin network – recently surpassed $20 billion in TVL across its Defi protocols. It now holds more locked value than Binance Smart Chain (BSC).
- According to Defi Llama, TVL on Terra began ramping up in late November and early December. By December 16th, the network had over $13 billion locked up.
- Value began pouring in after that, accruing another $3 billion within just 3 days. TVL peaked on Wednesday at over $20 billion and now sits at $19.58 billion.
- This is well over the value currently locked on BSC, which has been stuck under $17 billion over the last two weeks.
- Terra now has the second-highest TVL of all networks listed on Defi Llama. It is only dwarfed by Ethereum, which dominates Defi with a TVL of $156 billion.
- Value has largely accrued to the TerraSwap and Anchor (ANC) protocols, which have undergone 89% and 44% TVL increases over the last 7 days.
- LUNA’s price has soared as well. It recently tapped an-all time high above $97 following a 50% rise on the week. It has since pulled back to $87, according to Binance.
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The recent price push has put Terra among the top ten crypto’s, pushing out Polkadot as #9.
Terra TVL. Source: DeFi Llama