Altcoin Terra (LUNA) has had a great performance this week amid the retreat of Bitcoin and Ethereum. After reaching a bottom at $80.5, the token bounced back to a local peak at $99.5.
LUNA climbed to sixth place in the ranking of the largest digital currencies by market cap. While at the end of the week, its price has corrected to $95.7, it has become one of the 5 largest cryptocurrencies by market capitalization. However, at the moment, it has fallen to 7th place.
According to experts, the price of LUNA, which is very popular among large investors, may beat the previous record set in December at $103.3.
The Terra blockchain is second only to Ethereum in the DeFi decentralized finance market.
This network has a huge potential and could eventually become one of the main competitors of ETH.