The price of Terra (LUNA) has gained 52% in the past seven days amid ongoing efforts to resuscitate the blockchain ecosystem.
Controversial blockchain project, Terra, is back in the spotlight as developers struggle to rebuild from the ashes of its ruins. For newcomers, the once multi-billion dollar Terra ecosystem was at the heart of the 2022 crypto market decline after its native token LUNA and stablecoin UST collapsed in a remarkable turn of events.
However, a new crop of developers now at the helm of Terraform Labs is not giving up on the project. Terraform Labs announced this week that it has acquired cross-chain analytics and data infrastructure provider Pulsar Finance.
The recent acquisition will see Terraform Labs integrate Pulsar Finance’s solution into the popular Station wallet, which enables access to the Terra blockchain. With Pulsar Finance already supporting 96 networks and over 700 protocols, the integration is expected to bring some exposure to the Terra ecosystem.
Additionally, the acquisition will see Pulsar Finance’s flagship solution, Pulser Data, merge with the Terra Foundation. With Pulser Data, Terraform Labs estimates that developers building on Terra can save between $300,000 and $1 million, which would usually go into building data indexers. Developers can access such data-intensive infrastructure for free using Pulsar Data.
Meanwhile, the acquisition will also see Pulsar Finance’s 20+ employees merge with Terraform Labs. Hence, the Terra blockchain would have more talent and technical expertise in building user applications and protocols.
1/ We're thrilled to announce that TFL has acquired @PulsarFinance, a leading cross-chain portfolio manager and data infrastructure provider ?https://t.co/8prSU4XKUw
What does this mean for the Terra ecosystem? ? ⤵️
— Terra ? Powered by LUNA ? (@terra_money) November 13, 2023
Terra Gains 56% in a Week, Including Bump Following Acquisition
Terraform Labs’ renaissance has led to positive momentum for the project’s native coin, Terra (LUNA). Notably, Terra (LUNA), also known as Terra 2.0, is different from Terra Classic (LUNC), the original Terra chain forked in the aftermath of the 2022 collapse.
As the above CoinMarketCap chart shows, the price of LUNA has gained over 56% in the past week. The coin currently trades at $0.74, dropping from its $0.85 high reached following the Pulsar Finance acquisition news. The coin maintains a market cap of $427 million.