Emphasis

  • LUNA upends Ether and Solana as the most pledged digital asset.
  • Investors and traders are keen on Terra (LUNA) to follow the new highs of TVL.

The global coin market has been looking to get the most out of the new quarter. It's been over two weeks now. As a result, people in town have been prioritizing powerful digital assets for higher returns.

That said, since cottage coins now make up a large part of investors' portfolios. Investors have been analyzing the statistics of various alternatives.

Following that, Terra (LUNA) is now a savvy "can't miss" digital asset for the community. With cottage coins beating the likes of Ether and Solana in terms of pledging.

In addition, digital assets have set new highs in terms of TVL, raising the bar for LUNA. As a result, there is a hawkish focus on prices that have recently surged to new highs.

Is Terra the new ethereum killer from Cryptoverse?

Terra has been one of the most trending and visited digital assets on the renowned cryptocurrency price analysis platform. This is a testament to the growing prominence of cottage coins. Since last week, Terra's performance has been astounding. With its listings, polls, analytics and other highlights.

Terra then reached a new high in TVL and price. At press time, the total TVL according to DeFillama was $27.94 B. Terra ranked second with 11.35% market share.

The dominant position in Terra's TVL is held primarily by Anchor at 54.80%. The other two top performers are Lido Financial and Astroport. LUNA recently outperformed Ether with a $31.6 B pledge.

Notable highlights this week include Kraken backing LUNA pledges, launching the C2X metaverse via FTX. Kado raised $5.4 million from strategic partners to launch Atlo and Lun Art, among others.

In contrast, a recent study by Messari noted that Terra has the highest outstanding market capitalization among the top 30 assets.

As a result, LUNA's volatility has been moving south. It recently fell about 55% for the day on March 11. In contrast, the change in social sentiment this week has been negligible.

According to sources, social volume was up 3.1% this week, while social engagement was up 9%. That said, bullish sentiment rose 2.5%.

In summary, the above mentioned factors have been driving the enthusiasm of investors and traders. The project will continue to attract investors due to its blend of smart contracts and DeFi. That said, we can expect LUNA to chew the candle once again towards its new highs. Hopefully, the current sentiment will help the asset push higher by mid-week.