The price history of Terra LUNA in 2021 is quite volatile. March 21 the price rose to the level of $21.98, then the price dropped to $4.10 on May 23. Then since July, the price rose drastically until August has reached a new high at the price of $ 24.45 on August 17.
Overview Terra is a blockchain that uses stablecoins in terms of price stability in the global network for payments.
This seems to provide a solution to price fluctuations in cryptocurrency rising and decline even quickly in a matter of months. However, there are still many questions about Terra LUNA. How does it work? What does it do? And is Terra LUNA a good investment?
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- 1 What does Terra LUNA mean?
- 2 How Terra LUNA works
- 3 What does Terra LUNA do?
- 4 How to mine terra luna?
- 5 Where to buy Terra LUNA coin?
- 6 Terra LUNA price prediction 2022,2023,2024,2025
- 7 Terra LUNA vs Solana
- 8 Terra LUNA vs Ethereum
- 9 Is Terra LUNA a good investment?
- 10 Final thought
What does Terra LUNA mean?
Terra is an open-source blockchain protocol, which supports stable programmable payments. Using flat pegged stablecoins that are algorithmically stabilized by LUNA’s crypto asset.
LUNA is a native token of the Terra blockchain protocol which functions to maintain the stability of the entire Terra network. It is through collateralizing which modulates incentives on the Validator.
Terra launched in 2018 and LUNA launched in 2019. Some of Terra’s listed financiers are Arrington Capital, Lightspeed Venture Partners, and Pantera Capital. Terra was invented by Daniel Shin and Do Kwon, where Do Kwon is a computer scientist with experience as an engineer at Apple and Microsoft.
Is Terra LUNA a stablecoin?
Terra is here to provide a solution to cryptocurrency price fluctuations, it has stable stablecoins that are pegged to flats.
Terra crypto ecosystem offers low fees, instant settlement, and frictionless cross-border exchange to power retail transactions.
They launch TerraUSD (UST), TerraCNY, TerraJPY, TerraGBP, TerraKRW, TerraEUR, and TerraSDR International Monetary Fund for use in various global markets.
Terra stablecoin offers seamless cross-border exchange of value and instant exchange between each other while using instant settlement and ultra-low fees for use by anyone, anywhere.
How Terra LUNA works
Terra has a different way of working with Tether which is backed up by a flat currency, value stability is obtained by algorithmically backed up by LUNA as a native token from Terra.
So the ups and downs of prices are controlled by LUNA, which uses smart contracts to maintain stablecoin prices. When the value goes down, LUNA swaps stablecoin tokens so that prices stabilize again, conversely if prices go up, stablecoins swaps LUNA so prices stabilize again.
In the Terra blockchain, the role of LUNA is very important to keep the Terra stablecoin steady, and another function of the LUNA token is to be able to stake, token holders will get rewards from this process.
What does Terra LUNA do?
In practice, most cryptocurrency holders hold their coins long-term expecting the price to go up. But what if the cryptocurrency is used by the industry for payment systems.
Of course, cryptocurrency price fluctuations can be an obstacle for the industrial world because they expect crypto price stability.
This is where Terra is here to provide this solution, it supports various currencies that are pegged to the Terra stablecoin, such as USD Terra (UST), Korean Won, Europe, Mongolia, and many other countries.
This is where stablecoins play an important role in the world of cryptocurrencies that want to connect with the industrial world for real. And Terra is one of the blockchain protocols that support various stablecoins of various fiat currencies. Maybe they are ready to compete with Tether and other stablecoins.
Currently, Terra’s market capitalization has passed the 10 billion USD mark. The price of the LUNA token experienced a drastic spike this August to reach $25 and is still likely to fluctuate.
How to mine terra luna?
LUNA’s main goal is to protect the network by locking value in the Terra ecosystem through a staking mechanism. LUNA holders participate at the risk of price volatility of the LUNA token itself. Staking rewards for LUNA holders is a way to incentivize them to take this risk and retain LUNA in the long term.
How to stake LUNA? This is Terra staking guide:
- First, you have to download the Terra Station wallet on Terra. money. You can choose a Terra Station wallet that is compatible with your device, there are options for Chrome, Windows, Linux, Apple, as well as Android.
- Login on your device, and create your wallet. You have prompted the form box for the wallet password name and seed phrase 24 words, write your wallet name and create a strong password and save the seed phrase safely.
- After you have a LUNA wallet station, then transfer a certain amount of LUNA for staking. You need to buy LUNA at an exchange that provides LUNA coins.
- Then log in to Terra station wallet and click “staking”, then click “Validator” then you select an available validator, and then click “Delegate”.
- Enter the number of LUNA to be delegated and make sure the address is correct. Click next on the delegate, next on confirmation and type your Terra station wallet password and click “submit”. For a complete guide on how to staking LUNA, you can read it here.
Note: You need to pay attention to the risks when participating in staking, where you may lose your portion or potentially increase 5%. You must pay attention to choosing a validator to minimize risk.
Where to buy Terra LUNA coin?
Although the capitalization of LUNA has reached more than 10 billion USD, there are not many exchanges that provide LUNA. So far the information we have gathered can only buy LUNA on Voyager and Binance and Crypto.com, Huobi, Bitfinnex, Upbit. Another alternative is through LocalBitcoin by finding users selling LUNA coins.
You can choose the one that according to your experience is a trusted exchange. If you believe Binance can choose this exchange to buy LUNA. But if you trust Crypto.com there are also LUNA tokens available.
Terra LUNA price prediction 2022,2023,2024,2025
Terra LUNA hit an all-time high on August 17, 2021, at $25.23 according to Coinmarketcap’s LUNA price chart. Several popular forecasting sites predict LUNA prices in the future.
Here is a summary of predictions from some popular forecasting sites:
- Wallet Investors assume that LUNA is a good investment in the future. With LUNA price predictions in 2022 at $33,709 and in 2026 predicting at $83,862.
- NewsBitcoin247 predicts LUNA to be a good asset too. According to them in 2022 LUNA’s price could reach $40,486. The next prediction in 2023-2024 can reach $60. And the 2025 prediction could reach $80.
- Digitalcoinprice also assumes that LUNA is a good investment. They predict the LUNA price in 2022 to reach $42.93. Then the 2023 forecast to reach $52.17, 2024 forecasting $60.18. 2025 estimate $74.98. 2026 could reach $85.11. 2027 at $92.18. And the 2028 forecast to reach $105.29.
- Coin Quora predicts LUNA well in advance, they predict 2022 LUNA price to reach $22, 2023 to reach $32, 2024 to reach $45, 2025 to reach $55.
- Price Prediction forecasting LUNA prices are rising gradually. The average price in 2022 reaches $40.58. 2023 reaches $58.95. 2024 reaches $85.66. 2025 reaches $122.06. 2026 reaches $177.33. 2027 reaches $243.09. 2028 reaches $378.01. 2029 reaches $549.20. And 2030 average price reaches $790.27.
- Longforecast Terra price prediction end of 2021 at $52.19, end of 2022 Terra price prediction $133.45, end of 2023 Terra price prediction $127.52, end of 2024 Terra price $104.16, end of 2025 Terra price $124.24.
Terra LUNA price chart
Terra LUNA vs Solana
Solana who owns the native token SOL is an open-source blockchain that wants to be a solution for Decentralized Finance. While Terra is a blockchain that facilitates stablecoins for global payments.
If you look at the price chart, both have similar movements, it’s just that LUNA’s movement fluctuations are more volatile than SOL.
- Terra marketcap on 18 august 2021 $11,239,338,191, Solana’s marketcap $22,183,380,012.
- Terra price $27.65, Solana price $77.66.
- Total supply Terra 992,848,268, circulating supply 408,948,722.61 LUNA. Total supply of Solana 502,034,902, circulating supply 286,437,699.17 SOL
- 1 year Terra Low:$0.2758, High:$27.77. 1 year Solana Low: $1.09, High:$77.92.
- Terra gets On 174,340 watchlists, Solana gets On 387,209 watchlists.
Terra LUNA vs Ethereum
Being Solana’s main rival, Ethereum is also an open-source blockchain on which to develop Defi. Ethereum’s earlier advantage over Solana on the project and market cap.
Comparing the Terra chart with Ethereum, we see there are differences, especially at an all-time high. Ethereum’s all-time high occurred in May 2021 while Terra’s all-time high was in August.
- Terra’s market cap at time of writing is $11,358,166,136, while Ethereum’s market cap is $358,653,884,201.
- LUNA token price is $27.60, while ETH is $3,062.81.
- Ethereum total supply as of writing 117,155,532 with circulating supply of 117,155,532.44 ETH. Terra total supply 992,848,268, with circulating supply 408,948,722.61 LUNA.
- Ethereum On 1,645,458 watchlists, while Terra is only On 174,340 watchlists.
- More exchanges support ETH instead of LUNA.
Is Terra LUNA a good investment?
If we trace the historical technical data, the LUNA price gives good hope for the future. Referring to several popular forecasting sites, LUNA is a good investment for the long term.
While on the other hand, LUNA-based fundamental, this blockchain offers a global payment solution using stablecoins pegged to fiat money. It uses a consensus algorithm called Tendermint to maintain network security.
Here are some reasons why Terra LUNA is a good investment:
- Terra’s leadership team is experienced, several big backers,s and this have a clear whitepaper.
- The Terra blockchain offers a wide variety of stablecoins tied to different currencies.
- Terra is also interoperable, it can communicate with several other blockchains.
Although Terra is a good investment, it does not mean that it is without risk. Some of the challenges of cryptocurrencies are regulators and prohibitions. For example, China has banned financial institutions from interacting with cryptocurrencies.
And also regarding regulation, some countries may still face obstacles regarding regulatory licensing.
Terra LUNA is one of the blockchains offering crypto adoption solutions for global payments using a unique stablecoin.
Increased daily volume is a sign that many traders are starting to increase demand so that there is an increase in prices.
Note: This article’s purpose is for information only and does not constitute investment advice, each investor is responsible for all their own investments.
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