Terra
Terra’s market cap is $33.49B. 24-hour LUNA volume is $3.69B. It has a market cap rank of 7 with a circulating supply of 371,405,980 and a max supply of 784,582,060. The 2 most prominent cryptocurrency exchanges that support Terra in the U.S are Voyager and Gemini. If you’re looking to buy LUNA without paying trading fees, Zeno is the platform for you. The cryptocurrency wallet lets its users buy Terra Luna tokens for free!
Avalanche
Avalanche has great potential and would tend to be the most attractive cryptocurrencies, mainly for its native token, AVAX, that ensures high transaction security coupled with speed scaling a trillion per second. Avalanche is a competitor to Ethereum that prioritizes scalability and transaction processing speed. AVAX is used to secure the Avalanche blockchain and pay transaction fees across the network. Transaction fees and the rate of AVAX coin creation are determined using a governance model.
Osmosis
Osmosis is a cross-chain automated market maker (AMM). Using it, one can trade tokens from across different crypto ecosystems. Trades on the platform are notably very small — often a fraction of a per cent. It also offers up staking and liquidity to make passive income on top of arbitrage. Go to CoinMarketCap and search for Osmosis. Tap on the button labelled “Market” near the price chart. In this view, you will see a complete list of places you can purchase Osmosis as well as the currencies you can use to obtain it. Under “Pairs” you’ll see the shorthand for Osmosis, OSMO, plus a second currency.
MARKET ANALYSIS
The layer-one (L1) ecosystem has received increased attention in recent months as users search for new investment opportunities in the Cosmos (ATOM), Fantom (FTM), and NEAR. Following January’s market sell-off, where Bitcoin (BTC) price dropped to the bottom below $34,000, much of the L1 field has struggled to regain its momentum.
According to data from Delphi Digital, since the BTC bottom on Jan. 24, the only L1 to experience a notable gain in price include Terra (LUNA), Avalanche (AVAX), and Ethereum (ETH).
The Growth of Terra Ecosystem
The price growth seen in LUNA was in large part due to the announcement from the Luna Foundation Guard that it had raised $1 billion to form a Bitcoin reserve for the ecosystem’s Terra USD (UST) stablecoin. Terra also saw the launch of its second lock drop event and the Mars Protocol helped drive demand for the LUNA tokens.
The $1 billion in reserves for UST was also a boon for Anchor Protocol (ANC), the Terra-based platform that is the main avenue for minting UST through pledging LUNA or Ether. Anchor also got an added boost to its price after announcing that developers are in the process of integrating AVAX as a collateral option for creating UST.
Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $1.18 on Jan. 28, the price of ANC has catapulted 268% to hit a daily high of $4.35 on March 2 where it was halted at a major resistance level.
Development of Avalanche
Aside from its integration with Anchor, Avalanche has had several notable developments that have helped drive its growth since late January, including integration with Wirex and the announcement that DeFi Kingdoms will launch on the Avalanche network.
According to Delphi Digital, based on its recent price performance, “AVAX seems to move with a higher correlation to BTC relative to other L1s.”
Osmosis and the Cosmos Ecosystem
Data from Delphi Digital shows that Osmosis, a decentralized exchange in the Cosmos ecosystem, has “outperformed other major peers over the last few months by a substantial margin.” The strength shown by OSMO is in part due to the success of Cosmos, which had a strong close to 2021 as its “thesis of interoperable app-chains has finally started to come to fruition in recent months.
Osmosis: The Largest Decentralized Exchange
Osmosis is now the largest decentralized exchange in the Cosmos ecosystem and supports 37 separate IBC chains with $1.75 billion in total value locked according to data from Defi Llama.
Osmosis also got a boost to its price and trading volume following the release of interchain and superfluid staking on March 1, which allows liquidity providers (LP) on the Osmosis DEX to also earn staking rewards for the assets they have provided liquidity for, making this the first time users can do both staking and LP at the same time.
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