Terra’s LUNA coins have risen 10% in the last 24 hours to new all-time highs of $105.91, according to statistics.
According to pricing statistics, LUNA has surpassed a prior high of $104.74 set earlier this month.
LUNA is one of the Terra network’s two native tokens, a framework that allows developers to build custom blockchains and decentralized applications on top of Terra for a variety of use cases.
The Luna Foundation Guard (LFG), a Singapore-based foundation that is purchasing over $3 billion worth of bitcoin as an additional layer of security for UST, Terra’s decentralized dollar-pegged stablecoin, has boosted LUNA sentiment in the last month.
The demand for bitcoin by LFG has resulted in a comeback during the last week. Bitcoin hit a new high of $47,000 Wednesday, the highest since the beginning of the year.
LUNA has grown 86,215.7 percent from its all-time low of $0.121798 in March 2020, making it one of the best-performing tokens in the past two years, according to data.
At the time of writing, LUNA has a market valuation of $37 billion, making it the ninth largest cryptocurrency.
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