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SOL & LUNA DeFi Explosion, Anchor & Lido Symbiosis Drives UST Demand

Aug 17, 2021 · 3 min read

By Jeremy Ong, and Joo Kian

Market Update

All around, markets look indecisive today as majors continue ranging. SOL and LUNA have been stand outs, hitting fresh all-time highs. Other tokens such as YGG, AXS, GRT, AVAX, SUSHI, AUDIO are also having a great day.

Solana & Terra DeFi TVL Breach New Highs

Two of the biggest gainers in terms of ecosystem TVL, on a relative rather than absolute basis, are the “sun & moon” L1s – Solana and Terra. The jump in both of their TVLs is likely due to the sharp price increase in SOL and LUNA, the native assets of each network. Ethereum DeFi TVL is also teetering close to all-time highs. It’s dominance relative to its peers remains largely unchallenged.

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