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Terra’s LUNA has reached new highs of about $106 per share

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.

Image : LUNA set new highs this morning. (TradingView)

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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