The price of LUNA, the native token of the Terra ecosystem, has surpassed the $107 mark, updating its all-time high.
Moreover, the growth of the crypto has been accompanied by an increase in trading volumes, while the market capitalization of the asset has grown above $38 billion.
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Notably, coinciding with the token's growth, the total locked value (TVL) of the Terra ecosystem has surpassed the $29 billion mark.
LUNA's price is rising driven by active Bitcoin purchases by the non-profit Luna Foundation Guard (LFG) aimed at ensuring the stability of the algorithmically stablecoin UST.
Analysts at Arcane Research believe that, maintaining the current pace, LFG's reserves will exceed 48,000 BTC by early April.
The crypto is currently trading at $106.24, registering a 2.83% increase over the past 24 hours.