UST Stablecoin Demand, DeFi Incentives Drive Terra’s LUNA to New All-Time High

Posted on by American Coins & Gold

UST Stablecoin Demand, DeFi Incentives Drive Terra’s LUNA to New All-Time High
LUNA, the native token of the Terra blockchain, hit a record high Tuesday, as demand for the network’s UST stablecoin surges and users chase multiple incentive programs.This is the second time in November that LUNA has logged a new all-time high. At press time, LUNA was changing hands at $57.63, up 11% in the past 24 hours, according to data from Messari.LUNA is part of an algorithmic balancing system that helps stablecoins running on the Terra blockchain maintain parity with fiat currencies. One of the major developments from the network’s Columbus-5 upgrade in October is a new design for keeping…