Even though all the stablecoins are recovering after the end of the year crash, it is interesting to see that more and more people are adopting altcoins. This means that crypto adoption is still going strong even though the prices hit a low point in December.
The recovery has been slow and steady and with the current geopolitical climate being uneasy crypto has been at the service of the people. CryptoSlate states that Terra’s price and value rose by 78% in the month of February and peaked at $94 in its latest run.
As compared to the industry leaders like BTC and ETH who only saw a 12.25% and the other having a 9% recovery respectively. Avalanche and Solana also saw recovery with their values increasing by 22% and 3.9%.
Santimets’ data also shows that LUNA hit an all-time high in Feb. It has now become the fastest-growing digital asset. With their TVL rising to more than $20 billion in just seven days, they saw a 52% increase. As of this moment, their TVL is valued at $23.29 billion and making it one of the largest smart contract enabled tokens.
With 4 million wallets on the LUNA network and 41% engaged in staking, it is a good sign that people are in it for the long run. With LUNA seeing many people investing into it, it might just become a stablecoin in the future but as of now, it is well on its way to becoming one.
If you have a crypto portfolio then you should diversify and add LUNA to it too.