Protocol upgrades are one of the biggest drivers of momentum because they show developersdedication to fixing bugs, incorporating user requests and adding new features that make the protocol competitive and shore up the token’s value.

One project that has seen its token price rally to a new all-time high following the launch of a highly anticipated upgrade is Terra (루나), a blockchain protocol that uses fiat-pegged stablecoins like TerrUSD (세트) to create a global payments system.

Cointelegraph Markets Pro 및 TradingView의 데이터에 따르면 최저 수준에 도달한 후 $23.81 9 월. 21, the price of LUNA surged 108% 새로운 기록을 세우기 위해 $49.55 10 월. 4 as its 24-hour trading volume spiked to $2.5 십억.

LUNA/USDT 1일 차트. 원천: 트레이딩뷰

Three reasons for the price breakout in LUNA include the launch of its Columbus-5 upgrade which introduced a LUNA burning mechanism, the protocol’s adoption of the IBC standard which opens Terra to the Cosmos ecosystem and an increase in DeFi applications and total value locked on the protocol.

Columbus-5 arrives

Columbus-5 launched on Sept. 30 and according to Terra developers and independent analysts, the upgrade is the most significant development to happen to the protocol to date.

One of the notable changes to come along with the upgrade was a modification to the project’s tokenomic model which leads to all LUNA used to mint UST being burned, instead of going into the community pool.

According to data from Terra, 있었다 $832 million worth of LUNA burned in the genesis block of Columbus-5.

This change has introduced deflationary pressure to the LUNA supply and it could help boost its price in the long term as demand for UST grows.

Inter-Blockchain Communication standard

A second reason for the boost in LUNA’s momentum was its integration with the Inter-Blockchain Communication (IBC) standard which allows the Terra network to communicate and interact with protocols in the Cosmos ecosystem.

This integration opens up Terra and its UST stablecoin to more widespread adoption throughout the Cosmos ecosystem and make it the stablecoin of choice for applications and chains in the network.

With a larger pool of projects now having access to UST, this could lead to a further deflation in the supply of LUNA becaus more will need to be burned in the process of minting new UST.

관련된: 진화하거나 죽거나: 스마트 계약이 암호화 부문의 힘의 균형을 어떻게 변화시키고 있습니까?

The total value locked in the Terra ecosystem is surging

A third reason for the bullish price moves in LUNA has been the network’s growing ecosystem of decentralized finance (DeFi) protocols that have helped push the total value locked on the protocol to a new all-time high.

According to data from Defi Llama, the total value of assets locked on the Terra network reached a record $10.07 billion on Oct. 4 right as LUNA price was breaking out to a new record high.

Total value locked on Terra. 원천: 데피 라마

현재, Terra’s TVL is above $10 billion and the top-ranked platform in terms of TVL is Ancor Protocol (ANC) 와 $3.86 십억. ANC is the main avenue for minting UST by pledging LUNA or Ether (ETH) 담보로.

Other notable DeFi protocols on the network include Lido (LDO), which has a TVL of $3 십억, Mirror (MIR) with a TVL of $1.38 billion and Terraswap which has a $1.32 10 억 TVL.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for LUNA on Sept. 26, 최근 가격 상승 이전.

VORTECS™ 점수, Cointelegraph 전용, 시장 감정을 포함한 데이터 포인트의 조합에서 파생된 과거 및 현재 시장 조건의 알고리즘 비교입니다., 거래량, 최근 가격 변동 및 트위터 활동.

VORTECS™ 점수 (초록) vs. LUNA 가격. 원천: Cointelegraph Markets Pro

위의 차트에서 볼 수 있듯이, VORTECS™ Score for LUNA began to pick up on Sept. 21 그리고 최고에 도달 73 around one hour before the price began to increase 108% over the next two weeks.

여기에 표현 된 견해와 의견은 전적으로 작성자의 것이며 반드시 Cointelegraph.com의 견해를 반영하는 것은 아닙니다.. 모든 투자 및 거래에는 위험이 수반됩니다, 결정을 내릴 때 스스로 조사해야합니다..