By Malvika Gurung
Investing.com -- Amid the ongoing disruptions caused in the digital token market, Terra swiftly glides up the list of top 10 cryptocurrencies with the highest market capitalization in 2021, exceeding the figures of some eminent cryptos like Dogecoin , Shiba Inu , Polygon, Avalanche and CRO/USD .
The token’s market capitalization is nearing $26 billion, and could soon exceed that of Polkadot , having a market capitalization of $29 billion. In addition to being among the ten cryptocurrencies with the highest market cap, Terra is among the best performing cryptocurrencies in 2021.
The digital token has surged about 12,000% on a Year-to-date basis, rallying over 15,000% in one year. The coin was trading at $66.12 at 4:10 pm on Wednesday and hit its all-time high at $75.56. A year ago, the digital coin was worth $0.5, as per Coinmarketcap.com.
Market experts are bullish on Terra and expect the digital currency to hit $100 soon, states an ET report. This is because unlike tokens that hit highs and lows in a jiffy, Terra is the fifth largest decentralized finance or DeFi protocol, backed by robust fundamentals, and has a total value of over $12.7 billion locked.
Terra’s native token LUNA has a supply of 1 billion coins, and the community passed a proposal to burn supplies of 88 million LUNA over the next few days.
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