Terra’s LUNA tokens increased 10% in the last 24 hours to reach new highs of more than $105.91, Data show.
Price-charts show that LUNA has surpassed a prior high of $104.74 earlier in the month.
LUNA is one the two native tokens in Terra’s Terra network. This framework allows developers to create custom blockchains on Terra and build decentralized applications for different use cases.
The Luna Foundation Guard (LFG) is a Singapore-based non-profit that has purchased over $3 billion of bitcoin to increase sentiment for LUNA. This is in addition to Terra’s decentralized dollar pegged stablecoin, UST.
LFG’s demand has seen bitcoin prices rise in the last week. Yesterday, bitcoin surpassed the $47,000 mark, which is the highest level in Bitcoin’s history.
Data shows that LUNA has risen by 86,215.7% since its March 2020 low of $0.121798, making it one the most successful tokens over the past two year. LUNA is ranked eighth among cryptos with a market capitalization in excess of $37 billion as of the time of writing.