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Why LUNA Is Soaring Today

TheMotleyFool

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LUNA (CRYPTO: LUNA) coins were up 12.6% over 24 hours to $48.01 apiece at 8:54 a.m. EDT. After its much-anticipated Columbus-5 upgrade on Sept. 30, the Terra Luna network has emerged to become one of the most competitive blockchain scaling solutions (Layer 1) designed to increase the number of transactions and improve the functionality of programmable agreements (smart contracts). After the update, there's been a notable uptick in activity on Terra Bridge, which enables users to send or receive assets across different blockchains.

The Columbus-5 upgrade made the following protocol changes to the Terra Luna network:

These technological advancements have fueled investor demand, causing LUNA to reach a market cap of $19 billion.

Source Fool.com

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