Terra Becomes Second-Biggest DeFi Platform (Behind Only Ethereum)

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Alex dovbnya

Terra has surpassed Binance Smart Chain, becoming the second largest smart contract platform

Terra has become the second largest smart contract platform by total locked value, according to data provided by Defi Llama.

Reaching $ 16.6 billion, it has now surpassed Binance Smart Chain.

Terra’s TVL has grown by 19.46% in the last 24 hours, ahead of its competitors.

TVL
Picture of defillama.com

Anchor, a savings protocol that allows you to receive low volatility returns when depositing the UST algorithmic stablecoin, is the most popular protocol on the Terra network with a value of $ 7.14 billion locked.

The liquid betting protocol Lido and the decentralized exchange Terraswap rank second and third, respectively. Astroport Automatic Market Making is also a billion dollar protocol.

Solana and Avalanche, two other popular smart contract platforms, are lagging behind Terra and Binance Smart Chain with $ 11.92 trillion and $ 11.84 trillion in TVL, respectively.

Massive LUNA demonstration

While the cryptocurrency market in general is stagnant, LUNA, the native token of the Terra network, has soared 22% over the last week.

With a market capitalization of over $ 27 billion, it is still the largest 9-hour cryptocurrency by market capitalization. Avalanche (AVAX) ranks close to 10th.

However, Decred (DCR), the hybrid blockchain native token of the same name, is currently stealing the show with a sudden 52.73% price surge that allowed it to re-enter the CoinMarketCap top 100.

Source: https://u.today/terra-becomes-second-biggest-defi-platform-behind-only-ethereum

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