Terra's Largest DeFi Platform Just Cut Yield Rates, Here's Why:

Anchor Protocol, the largest DeFi platform on Terra, recently reduced its annual yield rates in a bid to improve the platform's sustainability. The move comes after users approved a proposal in March to introduce dynamic interest rates.

Timeline of Terra-luna

Fireblocks, the provider of digital asset and crypto technology, recently announced that it has become the first platform to launch institutional DeFi access to Terra, “the second-largest decentralized finance (DeFi) protocol by total value locked (TVL).” Now, Fireblocks customers can “securely access all of the.

LUNA price opened the session higher with a constructive candlestick but erased all the gains as the day proceeded. The price fell like a pack of cards in a highly volatile session.

Terra's native token LUNA slumped over the past week as a broader downturn in the crypto market hit the token particularly hard. It is the among worst performing tokens among the top-10 cryptocurrencies in the past week.

Since reaching an all-time high of $119.55 on April 5, Terra (LUNA) has been declining. On April 18, the coin hit a low of $75.67. Since then, the price has risen. Above the $102 region, the all-time high and subsequent decrease have created a bearish divergence. LUNA was predicted to confirm the $102 area as …

The Terra (LUNA) price finds a surge in buying pressure, resulting in an upside breakout of the falling wedge pattern in the 4-hour chart. Moreover, the morning star pattern increases the chances of a sustained uptrend reaching the psychological barrier of $100.