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      Can Terra (LUNA) cross $100? - Stocks Telegraph

      By Muskan

      Published on

      January 28, 2022

      3:45 PM UTC

      Last Updated on

      January 28, 2022

      3:48 PM UTC

      Can Terra (LUNA) cross $100? - Stocks Telegraph

      Terra had been gaining amidst the crypto market crash earlier; however, the coin has succumbed to the bears of the market and is currently freefalling. At the time of writing, the cryptocurrency stands at a price level of $48. The token has fallen by 20% during the daily timeframe and the loss during the week stands at 32%. The market for LUNA is expected to continue cooling down for a while before it can start moving upwards. Terra LUNA is the ninth largest cryptocurrency in the market with a capitalization of $19 million. 

      What is Terra (LUNA)?

      Terra is a blockchain-based platform for algorithmic stablecoins. However, its scope expands way beyond stablecoins. It is regarded as “the programmable money for the internet”. The network allows crypto spending, saving and staking. Moreover, the ecosystem has also become a hub for DeFi apps as it provides a cross-chain defi environment and the blockchain provides various functionalities aimed at enabling the growth of the larger crypto ecosystem. 

      The unique architecture of the platform with its cryptocurrency Terra and stablecoin LUNA enable it to function more like a fiat currency but with the power of the blockchain technology. This unique proposition of the network positions it to have a better chance of becoming a globally accepted payment method. 

      Where is the token headed? 

      There are currently more than 70 DeFi apps in the Terra ecosystem and the number is growing steadily as it is one of the most user-friendly blockchains with a lot of features and functionalities that encourage development. The ecosystem recently welcomed another application, Satellite, for cross-chain asset transfers. Moreover, the ecosystem is also highly diverse and versatile and offers applications from real estate to ecommerce to gaming and everything in between. 

      Terra (LUNA) is one of the strongest projects in the cryptocurrency market and the market, in general, is expected to gain value over time which gives LUNA coin a bullish outlook for the long-term. Moreover, the network is also expanding at a fast pace. It recently got listed on the spot market of a major crypto exchange, FTX. According to the estimates of Wallet Investor, the token is expected to cross $190 in a year’s time and touch $700 in five years’ time. Digital Coin Price also projects the price to the token to cross $100 by 2025. In conclusion, Terra is a solid project to invest into in the current dip. 

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