The coin that has everyone thinking “Why didn’t I got in?” is Luna. Terra and their amazing project has got everyone on hot seats. The coin is continuously creating All Time High’s and not showing a sign of weakness as the true Potential of Luna has been recognized b the community. Luna is such a good and amazing project that I wouldn’t be surprised if it touches $100 soon.
Movement of the LUNA Coin
Luna is currently being traded at a price of $33.78 with an increase of 15.65% in the last 24 hours and an overall increase of 31% in the past 7 days. The coin broke its previous All Time High at a price of $24.40 before dropping to around $3.9 during the crash. This crash resulted in a lot of talks because Luna acted as one of the most volatile coin in the market. But it left people in disbelief when it rallied again. Where a lot of coins are struggling to recover even 1/4th of the price they had before the crash, Luna has rallied a lot. Solana $Sol is also one of the coins that went on to create new highs and reach a price of $82.
About Terra
TERRA is the company that uses Luna as a native token for supporting its network was launched in 2018 and LUNA was launched in 2019. Luna is a governance token that supports the whole Terra ecosystem. From minting the stable coins (UST is the most famous in the Terra network) to the processing of transactions, LUNA is the back for the whole system.
Terra’s main focus is stable coins. Stable Coins are coins that have their values pegged to the real life and commonly used asset or currency. Probably the most famous is Tether (USDT), a coin that has its value in sync US Dollar. People and investors use these stable coins to secure profits as their values don’t fluctuate so there is no risk of sustaining damage.
The network is secured by Proof of Stake Consensus, where the holders’ stake to validate transactions and receive rewards on the amount of Luna they had staked. Terra has been audited by Certik in 2019. The network has recently collaborated with Solana, Binance Smart Chain, and Ethereum with the launch of Wormhole. A cross-chain messaging protocol.
It is safe to say that people are digging into the project and finding worth it.
