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Highlights
- Founded by 2018 by Daniel Shin and Do Kwon, Terra (LUNA) is a blockchain protocol which offers fiat-pegged stablecoins to ensure a price stable global system.
- With the efficiency that a cryptocurrency brings on to the table along with the price stability feature that fiat currencies bring, Terra is able to automatically ensures an efficient stablecoin supply.
- Currently ranked in the top 12 cryptos as per CoinMarketCap, LUNA token is trading at US$59.41 with a 24-hour trading volume of US $2,295,619,569.
Founded by 2018 by Daniel Shin and Do Kwon, Terra (LUNA) is a blockchain protocol which offers fiat-pegged stablecoins to ensure a price stable global system. With the efficiency that a cryptocurrency brings on to the table along with the price stability feature that fiat currencies bring, Terra is able to automatically ensures an efficient stablecoin supply.
One of the standout features of Terra is its ability to incentivise the LUNA holders to swap the token at a profitable rate. This allows the token to either expand or contract the stablecoin supply to meet the demand. also helps them to expand or contract the stablecoin supply. to match demand. The Luna Holders are charged a minimal 2%-3% fee in the form of a transaction fees through a secure network. Besides, it also ensures that transactions are completed instantly and in a seamless manner.
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On 15 December, it has been catching the attention of the investors with a rally. LUNA token has been seeing a rally by 5% both in price as well as in volume’s perspective.
Why is Terra making headlines?
Terra may have had a forgettable Tuesday from the market performance point of view, but its Kraken listing seems to have lifted the sentiments of the investors on 15 December. Kraken announced that it has opened the deposit of Luna token on its platform. Trading, however, will begin from 16 December only.
Although at the same time, it hinted that in future it could consider Kraken Futures and Margin Trading, but for now, it won’t be available at launch. Earlier in September, LUNA had witnessed a bullish run, which saw the prices soar to US$35. However, after that, it had to go through some tough period with prices going both high and low.
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Price prediction
The Kraken announcement seems to have come just at the right time for the token. It gave the Terra to much-needed momentum and investors would be hoping that it can take it forward as we head into 2022. Currently ranked in the top 12 cryptos as per CoinMarketCap, LUNA token is trading at US$59.41 with a 24-hour trading volume of US $2,295,619,569. LUNA had a live market cap of US$22,352,595,503, with a supply of 376,274,643 LUNA coins.
Going purely from its ability to provide an alternative mode of payment, Terra’s fundamentals look promising. The completion of the Columbus-5 upgrade should help Terra to launch new projects in the near future. It already has close 160 new projects lined up for the next year.
Having said that, one also must keep in mind of the SEC’s opinion about stablecoins. The SEC has often hinted stablecoins are not as stable as predicted. Experts believe that Terra has the ability to outlast its challenge and has the potential to touch US$150 by 2022 and further surge by +700% or more in the next five years with its price touching US $790 by 2026.
