Terra became a project that crashed in May 2022, and after just one week, LUNA’s price plummeted, but it seems to have calmed down now. Attention is focused on whether this virtual currency can be revived from here. It is a project from South Korea that is currently aiming for reconstruction.
What is Terra (LUNA)?
Terra (LUNA) is a project that was promoting the issuance of the stablecoin “UST”. The momentum was tremendous for a while, and it became a fairly influential coin among altcoins, but it crashed in 2022. However, even so, it can be said that the value is still high because it has more than 1 million Twitter followers and is a coin that can be demo traded on major virtual currency exchanges.
Features of Terra (LUNA)
The features of Terra (LUNA) are described below.
Terra is a project that issued the stablecoin “UST”. UST is a stablecoin classified as “uncollateralized”. The unsecured type is a type that finds value by adjusting the amount of supply by an algorithm, and practical application has not progressed so much. Therefore, there is an aspect that LUNA is expected this time.
Although LUNA has lost its value, a re-restoration plan is currently being implemented. That will be the new Terra2.0 chain. It is now intended to be played.
May 2022 was a nightmare month for LUNA. LUNA’s price has plummeted to a millionth in a week. A major crash was inevitable due to the Dipeg disturbance in May.
global payment system
Terra is a protocol that aims to become a global payment system, aiming for low-cost payments. We are trying to find value by issuing a stablecoin whose price is linked to the legal currency using our own algorithm.
Earn staking rewards
Holders of LUNA can earn rewards by depositing LUNA on the platform. The deposited LUNA will be used by the algorithm to stabilize the price of the stablecoin.
Project Voting Rights
Depending on the number of LUNA owned, it is possible to participate in determining the direction of the Terra project. LUNA holders can vote on Terra project resolutions. The number of possessions increases the authority.
The future of Terra (LUNA)
This coin has experienced a big crash in 2022, but what will happen in the future?
Can you recover from the Dipeg turmoil?
The mass sale of LUNA in May 2022 has left a great deal of anxiety not only for Terra (LUNA) but also for the cryptocurrency market as a whole. Since the negative image has taken root, it is hoped that the future will be found by coming up with a clear recovery policy.
Demand for LUNA
Rising demand for LUNA is starting to happen and this is a big factor in the price increase. Since listings on exchanges have been decided one after another in recent years, it is expected that the distribution volume will increase and the value will increase in the future. However, since there is still strong selling pressure from large investors, the key will be whether or not we can get out of this situation below.
Recommendation to open an account
LUNA is now available for trading on MEXC. You need to open an account, but you can do it for free, so let’s open it by referring to the article below.