This Cryptocurrency Just Surged Past Cardano and Solana
The best-performing large-cap cryptocurrency by a country mile this week has been Terra (CRYPTO: LUNA). Today, Terra continued this incredible upward trend, surging 6.3% higher over the past 24 hours, as of 12:10 p.m. ET. This surge also propelled this token into seventh spot amid all cryptocurrencies in terms of market capitalization, just above Cardano and Solana.
This move comes as bulls continue to flock to Terra's unique algorithmic stablecoin network. This past week, Terra announced that Luna Foundation Guard, a nonprofit supporting the Terra ecosystem, had raised a $1 billion Bitcoin fund for Terra's UST stablecoin. This Bitcoin-denominated reserve diversifies Terra's reserves while also providing support in times of distress, should Terra's peg come under pressure.
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Source Fool.com
