The best-performing large-cap cryptocurrency by a country mile this week has been Terra (CRYPTO: LUNA) . Today, Terra continued this incredible upward trend, surging 6.3% higher over the past 24 hours, as of 12:10 p.m. ET. This surge also propelled this token into seventh spot amid all cryptocurrencies in terms of market capitalization, just above Cardano and Solana .
This move comes as bulls continue to flock to Terra's unique algorithmic stablecoin network. This past week, Terra announced that Luna Foundation Guard, a nonprofit supporting the Terra ecosystem, had raised a $1 billion Bitcoin fund for Terra's UST stablecoin. This Bitcoin-denominated reserve diversifies Terra's reserves while also providing support in times of distress, should Terra's peg come under pressure.
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This Cryptocurrency Just Surged Past Cardano and Solana