The %Luna ($LUNA) digital token has risen 10% in the past 24 hours to reach a new all-time high of $105.91 U.S.
Luna’s previous high of $104.74 U.S. was reached earlier this month, according to price data.
Luna is one of the two native tokens of the %TerraNetwork, a framework that allows developers to create custom %Blockchains and build their own decentralized applications for various use cases.
Sentiment for Luna has grown in the past month largely due to the Luna Foundation Guard (LFG), a Singapore-based non-profit organization that is purchasing over $3 billion U.S. worth of %Bitcoin ($BTC) as an additional layer of security for Terra’s decentralized dollar-pegged stablecoin.
Luna has now risen 86,215% from its all-time low of $0.12 in March 2020, making it one of the best performing %Cryptocurrencies of the past two years.
Luna now has a market capitalization of nearly $40 billion U.S. and is ranked as the eighth largest cryptocurrency.