On Friday, the crypto market fell somewhat, but Terra’s decentralized finance (DeFi) ecosystem continues to grow, with Anchor Protocol leading the way.
According to CoinGecko, Bitcoin and Ethereum have dropped 4.7 percent and 6.2 percent in the last 24 hours, respectively. That’s, while Anchor Protocol’s ANC has risen 7.3 percent as part of its 30-day 200 percent boom.
According to Defi Llama data, total value locked (TVL) in Terra DeFi increased by 27% in the last week to US$23.4 billion. Of course, with Anchor accounting for over half of that value.
ANC is the governance token for Anchor, a DeFi savings platform built on the Terra blockchain.
Anchor’s DeFi boom has helped Terra maintain its position as the second-largest DeFi chain. That’s, with a value nearly double that of Binance’s BNB Chain in third place.
Ethereum still has a 55 percent share of the DeFi market, while Terra has an 11% share.
Terra has gained 0.3 percent in the previous 24 hours as of press time, capping a 42 percent week surge.
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