This article is a complete guide on Terra Luna. In fact, its token LUNA mooned more than 2,000% within 2 months. Many skeptics deemed this price increase as unsustainable, creating a bubble that’s about to burst and remove most gains. What is Terra Luna crypto and is it a good investment?
The crypto space witnessed many interesting projects come to life. Namely, some want to replace financial industries, while others dug deeper in fine arts and digital collectibles. Consequently, there is no stopping this movement of decentralization, which might indeed manage to establish itself in the mainstream. Cryptocurrencies have long been criticized for their volatile prices. No one would want to watch his holdings deteriorate in value overnight. That’s how stablecoins were born, and Terra Luna is looking to bridge the gap between the highly volatile markets, and the mainstream consumer.
Join the Chat Discord
Terra Luna – Bridging the Underground and the Mainstream
What is Terra (Luna)?
Terra is a blockchain protocol that used stablecoins to enable price stability in global payment networks. In fact, they claim to combine price stability and fiat currencies by enabling Bitcoin (BTC), thus offering cheap settlements. Volatility was a highly discussed topic in the cryptocurrency realm. It is one of the main reasons that made investors fear owning cryptos. Terra seeks to change that, by using fiat-pegged stablecoins. They would keep a “one stablecoin to one fiat” peg through a proprietary algorithm that automatically adjusts stablecoin supply based on its demand. This is feasible thanks to their token LUNA, which provides liquidity, price stability, and is easily swappable to other stablecoin at profitable exchange rates.
Is Terra Luna a Good Investment?
Terra blockchain managed to garner a lot of attention thanks to its token LUNA that exploded in prices recently. It managed to make in the past 2 months more than 2,000%. On a fundamental view, the company made many partnerships with payment platforms, mainly in the Asia-Pacific region. Back in July 2019, Terra announced a partnership with Chai, a South-Korean-based mobile payments application. Purchases made using the application on e-commerce platforms are processed via the Terra blockchain network.
Now from a technical viewpoint, the token LUNA exploded from a low price of USD 0.9 back in Jan 2021, all the way to today’s price of USD 18.5. This price increase comes in tandem with the latest NFT hype, which also attracted many enthusiasts from different industries. Therefore, with a current market capitalization of USD 7.3 Billion, there is definitely room for further growth, especially that the cryptocurrency market is on a bull-run.
- Current Price: USD 18.5
- Market Capitalization: USD 7,265,052,744
- Market Cap rank: #17
Where to Buy Terra Luna Crypto?
There are many exchanges that list LUNA as a tradable token on their platform. When purchasing a cryptocurrency from an exchange, it is always important to pick a reputable one. In fact, we recommend using Binance to buy LUNA, as it’s a very easy way to do so. On that exchange, you can buy, sell or even hold your LUNA tokens. Also, you can send your tokens to your private wallet if need be.
How does TERRA LUNA Crypto work?
Terra currently has four tradeable tokens on its blockchain. LUNA gives staking rights and is used in the protocol’s stability mechanism. Those four stablecoins are as follows:
- TerraUSD (UST): pegged to the USD Dollar
- TerraKRW (KRT): pegged to the South Korean Won
- TerraMNT (MNT): pegged to the Mongolian Tugrik
- TerraSDR (SDT): pegged to the International Monetary Fund’s SDR unit of account (Special Drawing Right, which is a basket of Foreign Exchange currencies held by the IMF)
The presence of SDR in the stablecoins offering is a solid must-have, as it represents a very stable currency. Therefore, they plan to add many other currencies in the future such as Euro, Yuan, and Yen pegged tokens. Terra stakers have the ability to vote and recommend new Terra currencies and disapprove existing Terra currencies. With the introduction of new currencies and a cross-border expansion, Terra presents a very interesting opportunity with a solid whitepaper.
Stay Ahead, Stay Updated
You might also like
More from Altcoin
We recently saw a sharp drop in the value of Ethereum in 2022. Is Ethereum undervalued or overvalued today? Let's …
Ethereum Classic is a fork of Ethereum. This post is all about ETC price analysis and its battle with …
With the crypto market crashing, traders have been looking for tokens to reduce the losses. Can BNT help? Find out …