Terra (LUNA), finally gets the recognition investors have been requesting for months
With a Twitter celebrity co-founder, an innovative stablecoin protocol, and a DeFi ecosystem that’s begging for mainstream success, Terra (LUNA) has been waiting in the wings for a good while now, and might finally gather the momentum required to cement itself as a top-tier crypto mainstay.
LUNA gained 32% in the last 24-hours to reach $22.97, a new record. It is now just a few rungs behind the major players. market cap rankings. Find out more about Terra and the best place to purchase LUNA here.
Terra: Where and how to buy it in the UK
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What is Terra?
Terra is a next generation stablecoin protocol. It uses variable issuance for the maintenance of the price of its U.S.-dollar-pegged token, UST. Stablecoins act as a bridge between the worlds of cryptocurrencies and “normal” money (i.e. The stablecoin acts as a bridge between the worlds cryptocurrencies and fiat money. Terra’s native token, LUNA, is minted and burned in relation to the supply of UST in order to maintain the stablecoin’s $1 peg, a new mechanism that hopes to circumvent the issues faced by other stablecoin issuers like Tether.
The LUNA token can also be used for governance. It essentially acts as a proxy to the Terra network’s valuation. Anchor, a DeFi ecosystem that is thriving in Terra, claims to offer investors access to the Terra network. 19.4% fixed interest rateUST deposits The mainstream’s discovery of this incredible arbitrage opportunity is a potential driver for LUNA’s recent rally.
Should I purchase LUNA today
With some analysts calling for a $100 price tag for LUNA by the end of the year, it’s unsurprising that investors are flocking to Terra as it begins to push in uncharted upside territory. LUNA hit $22.97 today. It now seems to be pushing for another record-breaking high.
Terra has been a favorite of many for a long time seasoned altcoin investorsYou might not have another chance to buy the coin, so now is the best time to get it before it hits the big leagues.
This article is informational only — none of the contents should be construed as financial or investment advice.