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Tag: LUNA

  • Terra (LUNA) coin to resume upward trajectory?

    Terra (LUNA) is the best performing cryptocurrency of the top hundred in the daily timeframe. The cryptocurrency has gone up by 11% in the past twenty-four hours while the weekly performance shows an increase of more than 40%. Terra coin has been on an upward trajectory since the end of June. At the time of writing, LUNA coin stands at a price level of $8.24. The price has been increasing in the daily timeframe; however, the trading volume has dropped by 30%.

    Terra (LUNA) technical analysis

    The market sentiment for Terra crypto has turned neutral. Out of the total twenty-six technical indicators, eleven are giving out a signal of buy with eight indications standing on a neutral position and only five at a sell position. The oscillators are bearish while the moving averages are bullish.

    Terra (LUNA) technical analysis
    Terra (LUNA) technical analysis

    Terra coin had been operating on an ascending trend line. However, the cryptocurrency has entered a horizontal channel with oscillating price movements. The recent bullish momentum in the market is pushing the cryptocurrency to break out of the horizontal channel and get back on the ascending trend line. LUNA crypto has broken out of the upper boundary of the channel. The major resistance has been broken and if the cryptocurrency stabilizes above the region, the upward trendline will be activated once again.

    Terra (LUNA) price prediction

    Terra (LUNA) recently entered into a strategic partnership with Harmony (ONE) in order to up their game in the decentralize finance space. Ever since the partnership, both cryptocurrencies have been trending upwards. Terra is the twenty-ninth largest cryptocurrency in the market with good long-term potential. According to the estimates of Wallet Investor, Terra will be valued at a price of $16 in a year’s time while the 5-year forecast shows a price of $60. Digital Coin Price predicts a price of $36 by 2028.

  • Why Terra (LUNA) coin may be a good investment?

    Why Terra (LUNA) coin may be a good investment?

    Terra (LUNA) has been trending as the team goes full force with developments of the blockchain. Terra had been gaining since the end of June; however, the bullish momentum was overtook by the bears in the market. At the time of writing, LUNA crypto stands at a price level of $ 6.79. The price has decreased by 4% in the past twenty-four hours while the trading volume has also declined.

    Why is Terra (LUNA) going upwards?

    The Terra blockchain utilizes stablecoins to power the global payment system.  The proposition of Terra makes it unique as it combines the efficiency and speed of cryptocurrencies with the stability of fiat-pegged stablecoins to power the payment systems. The development team of the blockchain has been busy which coupled with an increasing interest in stablecoins resulted in a price rally for Terra (LUNA).

    Terra has entered into a one-stack partnership with Harmony (ONE) which resulted in furthering the bullish trends of both cryptocurrencies. Both the platforms have agreed to join forces to explore DeFi initiatives together. Under the partnership, Terra will add Harmony to its Shuttle Bridge platform which will enable users to send Terra’s UST stablecoin across other blockchains. UST can be migrated to Harmony and used in applications on Harmony’s blockchain.

    Terraform Labs – the firm behind Terra (LUNA) – has also announced to utilize 50 million Terra SDT from the firm’s reserve fund for Anchor Protocol. The role of stablecoins in the cryptocurrency ecosystem is also increasing exponentially which has resulted in a boost of Terra (LUNA).

    Is Terra (LUNA) a good long-term investment?

    Given the recent performance of the cryptocurrency, Terra (LUNA) appears to be a good investment. Moreover, the development team is highly reputable and the offering of the blockchain unique. The technicals for LUNA coin are also going strong – with a bullish outlook. According to the estimates of Wallet Investor, Terra (LUNA) will be standing at a price level of $60 in five years’ time. Although a word of caution, the cryptocurrency market is highly volatile and anything can happen.

  • Investing in Terra (LUNA) – Is it a good project?

    Investing in Terra (LUNA) – Is it a good project?

    Terra (LUNA) is on a sharp downtrend. Terra crypto had been moving downwards since establishing its all-time high at $21.98 but the market crash further fueled the bearish momentum of Terra coin. At the time of writing, the Terra coin stands at a price level of $9.70. The price has fallen nearly 30% in the past twenty-four hours. The daily trading volume is increasing with a positive change of 80% since yesterday. The cryptocurrency went as low as $8.13 during the past twenty-four hours while the high was at $14.58.

    Does Terra (LUNA) have potential?

    Terra is built to support decentralized stablecoins. The project merges the unique features of cryptocurrencies and stablecoins to solve the problem of volatility in the market.  The network has a self-stabilizing mechanism. The elastic supply of stablecoins ensures that supply is increased/decreased to ensure the stablecoin stays pegged.

    Terra runs on various blockchains – increasing interoperability and decentralization. The platform is also highly programmable with smart contracts functionality which allows users to build decentralized apps. Users can also incorporate Terra’s oracles. One of the major goals of the project is to build an open and transparent financial infrastructure and; hence, is designed to eliminate the need of complicated payment chains like credit cards, banks etc.

    The Terra ecosystem is vast including many projects that are considered to have true potentials like Mirror Protocol which allows users to create tokens based on stocks to track their prices and Anchor Protocol – a lending and saving platform.

    Terra ecosystem brings unique and innovative offerings into the cryptocurrency market which is why it is considered to possess potential. The native token, LUNA, has had phenomenal growth in the year with predictions as high as $200 in five years’ time.

    The team

    The platform was co-founded by Daniel Shin and Do Kwon in 2018. Do Kwon is a graduate from Stanford University – majoring in computer science. After extensive work experience at Microsoft, Kwon established a telecommunications company Anfyi. Kwon has also made it to the Forbes under 30 list. Daniel Shin is an Economics major from Wharton School of Economics and has established a various successful business in quite a few sectors.

    Conclusion

    Terra is solving the problem of volatility in the cryptocurrency market – which is one of the major problems, if not the most major problem. But where there are plenty of stablecoins and other propositions to tackle the volatility, Terra proposes a unique system that has real-world use cases as well. The dual coin model is also innovative and can be utilized to increase salability in other blockchains.

    Terra has real adoption in the world. Terra Alliance comprises of fifteen companies from South Korea and Southeast Asia working towards the adoption of the Terra ecosystem. Terra is bringing blockchain technology to existing products which removes the need of education in the technology.