Terra token rises 327% in a month and reaches a new high
Market valuation of the digital coin exceeded $13.7 billion, making it the 12th largest cryptocurrency in terms of capitalization.
The value of Terra token (LUNA) increased by 327% over the past month. On August 24, its exchange rate renewed its historical high at $34.2. The cryptocurrency's capitalization exceeded $13.7 billion, according to CoinGecko. The asset ranked 12th on the list of the largest cryptocurrencies by capitalisation. Over the past year, the Terra token has appreciated by 6972%.
The digital coin's rise could be attributed to Terra's upcoming Columbus-5 blockchain update. According to Coindesk, the update is scheduled to be released in the next few weeks. The listing of Wrapped Luna and TerraUSD tokens issued on the Terra blockchain on the Coinbase Pro crypto exchange for professional traders could also have an impact on the quote.
Terra is a blockchain protocol used to create steblecoins tied to fiat currencies. LUNA token holders can propose and vote on blockchain improvements. LUNA is traded on the cryptocurrency exchanges Binance, Huobi Global, OKEx and Bitfinex.
Monero's price has risen 32% in the past four days after the digital coin's developers upgraded its blockchain by adding an "atomic swap" system that makes it easier to exchange the cryptocurrency for bitcoin and vice versa.