Terra’s LUNA has jumped to a record high of more than $105.91, turning in 10% in the past day in what is linked to its foundation’s BTC purchase and an overall change in market sentiment.
Luna has seen a bullish sentiment due to the activities of the Luna Foundation Guard, which is purchasing more than $3 billion worth of BTC as reserves for the UST stablecoin.
Luna is one of the tokens powering the Terra network, a blockchain that enables developers to build decentralized applications.
The purchase has caused a surge in bitcoin, which has surpassed $47,000, the highest level since the beginning of the year.
LUNA has grown to become the best-performing token, turning in 86,215.7% from a low of $0.121798 in March 2020. The token has a market capitalization of $37 billion.
Source: Coindesk