The digital currency “LUNA” has managed to establish itself as one of the best performing cryptocurrencies in 2021, as it has been heading against the market for the past two weeks.

While Bitcoin, Ethereum and other major cryptocurrencies remained limited in their upward movement.

The digital currency “LUNA” belonging to the “Terra” project was once again able to enter in price in unknown areas.

As of press time, LUNA is trading at $92 after having had a monthly low of $38 which is an increase of almost 124% in the last 30 days.

The price is in line with the update announced by the project management, as Terra has deployed several improvements to its main network in the past months.

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This included the following improvements:

Columbus-5, Wormhole v2, and Inter-Blockchain Communication (IBC) protocol.

These upgrades may have been the fuel that drove the price of the LUNA digital currency as it implemented a burn-in mechanism in the network.

These upgrades turned LUNA into a deflationary asset that will continue to see buying pressures going forward.

The Terra project has also benefited from the publication of “Astroport” an Automated Market Maker (AMM).

The protocol is still in its early stages but has already seen more than $1 billion in capital inflows.

This injection of capital into Terra’s ecosystem coincides with the rise of LUNA which demonstrates the importance of relying on the performance of the digital currency.

As the chart shows, LUNA has the right ingredients to continue its rise.

LUNA and the possibility of it rising further in 2022:

LUNA’s ecosystem has demonstrated strength in other sectors.

UST, the network’s original stablecoin, is gaining more adoption and could disrupt this segment of the cryptocurrency market.

An increase in UST’s market capitalization has been recorded since December 15.

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This stablecoin has been in close conflict with DAI, one of the most prominent assets of Ethereum.

According to a Delphi Digital report:

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UST and DAI were close in terms of market capitalization, with UST briefly surpassing DAI as the fourth largest stablecoin last week.

Yesterday, UST outperformed the DAI index in a more decisive manner as it has been trading higher for at least the past 24 hours.

We are only a few days away from the end of the year.

December is powerfully proving to be the month of LUNA in 2021.

With strong fundamentals, this network appears set to continue its upward trend in the near future and is likely to reach the top five positions in the list of the largest currencies by total market capitalization.

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