Terra’s native token LUNA rose past $100 on Friday, extending gains after Binance said it will list UST on its platform, in a tweet.

  • The surge in Luna helped to increase its total value locked, which hit a record $21 billion to occupy the second place in the DeFi rank after Ethereum. The TVL is a jump of almost $3 billion from $18 billion posted on Wednesday.
  • TerraSwap, a decentralized exchange derived from Terra smart contracts, also attracted volumes, with the TVL rising 81% from last week to $2 billion. 
  • Luna’s surge is also fueled by broader token mechanisms in November including “burn” mechanisms that sought to reduce the supply.
  • Marvin Steinberg, founder of Steinberg Invest, says some other applications such as Anchor make the Terra network attractive to investors, with the 20% annual yield on UST deposits appealing.

The latest surge has placed Terra among the top ten cryptocurrencies, occupying the 9th spot. LUNAUSD is up +2.17%,