Why is Terra (Luna) so resistant to the crypto collapse that is inflicting misery on Bitcoin and Ethereum holders? – Ethereum – United States dollar ($ ETH)

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Terra (CRYPTO: LUNA) has risen nearly 14% over the past 30 days, despite major cryptocurrencies performing poorly in the same time frame.

What is moving? The token associated with the blockchain protocol, which uses fiat-anchored stablecoins to support global payments systems, rose 5.96% over 24 hours to $ 57.86 at the time of publication. Over a seven-day period, LUNA fell 14.89%.

Against Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), the top two coins by market cap, LUNA rose 3.65% and 4.68% respectively over 24 hours.

LUNA hit an all-time high of $ 78.19 in early December. At time of printing, it was trading 26.12% below this level.

See also: How to buy Terra (LUNA)

Why is it moving? Since the start of the month, LUNA has resisted the downward pressure exerted by the current market correction.

LUNA is down 9.9% since December 1, while BTC and ETH are down 15.85% and 16.32% respectively since that date.

Delphi Digital, an independent research boutique, has attributed the LUNA fire every day since early December as the reason for its resilience.

Large Scale Cryptocurrencies. Luna (MTD base) – Courtesy of Delphi Digital

“The upcoming launches of Astroport and the Mars protocol have also likely contributed to LUNA’s recent outperformance,” wrote Delphi Digital, in a note seen by Benzinga.

Astroport is touted as a liquidity hub for the Terra Decentralized Finance ecosystem, which allows users to choose different types of pools with a single automated market maker system. Mars is a market protocol specially designed for the Terra ecosystem.

On Tuesday, Astroport tweeted that 100 million TerraUSD (CRYPTO: UST) in total cash had been added to the lockdrop – which went live the same day.

https://t.co/JLQvTgKao2 pic.twitter.com/UT6WTFGosU

– Astroport (@astroport_fi) December 14, 2021

LUNA hasn’t generated much interest on Twitter, according to data from Cointrendz. It drew 1,006 tweets at the time of publication.

The two most mentioned coins on the social media platform, Bitcoin and Dogecoin, attracted 9,931 and 6,190 tweets, respectively.

Read more: Bitcoin, Ethereum stable before Fed’s main presser, Dogecoin goes for a walk on the moon – Courtesy of Elon Musk

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