The crypto market slightly dipped on Friday but the decentralized finance (DeFi) ecosystem in Terra continues to grow with Anchor Protocol leading the way. 

See related article: Terra bullish trend continues; rest of crypto top 10 in red

Fast facts

  • Bitcoin and Ethereum have fallen by 4.7% and 6.2% respectively in the past 24 hours, while Anchor Protocol’s ANC rose by 7.3% as part of its 30-day 200% explosion, according to CoinGecko
  • Total value locked (TVL) in Terra DeFi grew by 27% in the past week to US$23.4 billion, with Anchor contributing around half of that value, according to Defi Llama data.  
  • Anchor is a DeFi savings protocol built on the Terra blockchain and ANC is its governance token. 
  • Anchor’s DeFi surge has helped Terra further its position as the second-largest DeFi chain, now almost double the value locked in third place BNB Chain of Binance. 
  • Ethereum still dominates 55% of the DeFi market while Terra controls 11% of the pie. 
  • Terra was up 0.3% in the past 24 hours leading to press time, to cap off its 42%-week rally. 

See related article: Is Terra — whose LUNA coin is now at another all-time high — really where the smart money is?