Project Dawn initiative and upcoming mainnet update back LUNA’s new ATH

The launch of Project Dawn funding initiative and the upcoming Columbus-5 mainnet upgrade saw a significant increase in LUNA’s price to $45
Terra (LUNA), a Blockchain protocol that aims to build a global payment system powered by UST stablecoin, has rallied to a new record high of $45. 1-day chart of LUNA/USDT Source: TradingViewData from TradingView and Cointelegraph Markets Pro shows that the price of LUNA rose 720% to a record high of $45 on September 10, after it bottomed at $5.61 on July 20. The rapid rally also raised the total value locked (TVL), on Terra protocol to a new record high of $7.83 billion on September 5. This makes Terra the fourth-ranked Blockchain platform according to Defi Llama. Terra total value locked. Source: Defi LlamaRelated to: Altcoin Roundup. Layer-one protocols chip away Ethereum’s dominance. A quick look at the project’s Twitter feed reveals that the price surge followed the announcement of Project Dawn’, a new funding program for Terra’s ecosystem. This initiative is meant to improve critical infrastructure and accelerate its growth. TFL has announced Project Dawn, a new funding program for core technologies and critical infrastructure improvements to support the Terra ecosystem’s rapid growth. Details:– Do Kwon (@stablekwon) September 9, 2021

According to Terra co-founder Do Kwon, Project Dawn has allocated $150 million to “build a core Cosmos contributor organization, invest in the ecosystem’s node infrastructure, and diversify the validator and oracle infrastructure.”Another source of excitement for the Terra community is the upcoming launch of its Colombus-5 mainnet upgrade on Sept. 29, which is “Terra’s most significant mainnet upgrade” according to the project. 1/ The Columbus-5 mainnet deployment is delayed by 3 weeks to a new block height at 4,724,000. This is roughly equivalent to: 9/29 at 20.30 PST 9/30 @ 03:30 UTC9/30 AT 12:30 KST- Terra (UST). Powered by LUNA. (@terra_money). September 1, 2021

Besides the improvements to the main protocol the LUNA price has also benefited the expansion of Terra ecosystem which has seen new DeFi protocol like AlphaDeFi launch. This has helped to attract liquidity. You should do your own research before making any investment or trading decision.

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