Terra is a stablecoin platform that uses its own algorithm, and LUNA is the governance token used in that Terra.
In early September, the price increased by about 50% due to the announcement of “Project Dawn”, and it is said to be a Crypto currency with future potential.
It also utilizes smart contracts and may be categorized as an Ethereum killer.
This time, I would like to explain in detail the features, mechanism, and future outlook of Terra (LUNA).What you can see in this article
- Terra (LUNA) is a project that was established in 2018 and issues stablecoins in which legal tender and prices are linked on a blockchain that operates mainly in South Korea.
- The price is stabilized by utilizing the governance token called LUNA.
- Developed various services such as connection with other blockchains such as Ethereum and deposit service
- Prices tend to fluctuate depending on the progress of development, practical application, and the presence or absence of regulations in each country.
- What is Terra (LUNA)?
- Features of Crypto currency Terra (LUNA)
- Terra is a protocol aimed at a global payment system
- LUNA is a governance token used in the Terra project
- Access to various blockchains
- Terra Stablecoin exists
- Offering Terra Stablecoin deposit service
- Terra (LUNA) price changes so far
- March 2021
- May 2021
- September 2021
- Current price trends of Terra (LUNA)
- 1. Approximately 30% down on September 7th
- 2. Increased by 50% from September 10th to 12th
- 3. Price drops 25% on September 20th
- Point of price increase of Terra (LUNA)
- Demand for LUNA increases
- Terra will be put into practical use
- Future forecasts and outlooks for Terra (LUNA)
- Coinpedia
- Walletinvestor
- ICOCREED
- Exchanges where you can buy Terra (LUNA)
- Summary of Crypto currency Terra (LUNA)
What is Terra (LUNA)?
| Currency name | Terra (LUNA) |
| symbol | LUNA |
| Price (as of September 21, 2021) | 1 LUNA = $ 28.84 |
| Market capitalization (as of September 21, 2021) | About $ 11.6 billion |
| Handling exchange | Binance |
| Official site | https://www.terra.money/ |
Terra (LUNA) is a payment platform that provides a global payment system by issuing stablecoins in which legal tender and prices are linked on the blockchain .
Established in 2018, the company is headquartered in South Korea, and has also invested in Binance Lab and Polychain.
By utilizing the governance token called LUNA to adjust the supply amount in the market, it is possible to issue highly stable stablecoins.
Terra (LUNA) aims to improve the practicality of Crypto currencies by supplying them to the market with stable prices, and to make them usable for general payment applications such as e-commerce .
Features of Crypto currency Terra (LUNA)
Terra (LUNA) offers stablecoins that are linked to fiat currencies and prices, and we are working to make payments more transparent, faster and at lower costs , and to make them even more practical.
Terra is a protocol aimed at a global payment system
Terra is a protocol aimed at a global payment system that aims to provide people with highly transparent, fast and low cost payments .
Utilizing a unique algorithm, we will enable stable Crypto currency in the market by issuing stable coins that are linked with legal tender and price.
We are also trying to expand the e-commerce that can use Stablecoin and expand the versatility to Crypto currency related service systems such as DEX and DeFi .
LUNA is a governance token used in the Terra project
LUNA is a governance token used in Terra projects, such as to maintain currency stability and to vote on project direction.
You can also use a method called staking, where you can get rewards by depositing.
Here, I will explain the features of such LUNA.
Used to keep prices stable
Terra issues stablecoins that work with fiat currencies such as the dollar and euro, but uses a unique algorithm to stabilize the issued stablecoins.
LUNA is used to maintain price stability by that algorithm.
The algorithm utilizes smart contracts, which automatically increase or decrease the amount of LUNA supplied to the market when stability is impaired above a certain level .
For example, if the price of US dollar stablecoin rises above a certain amount, the algorithm uses LUNA to increase the market supply of UST (US dollar-linked stablecoin) and lower the price.
Also, when the US dollar stablecoin goes down, the algorithm reduces the supply of LUNA by burning, etc., reduces the supply of UST and raises the price.
LUNA is sometimes called algorithm stablecoin because it is a stablecoin for algorithms .
Get commissions and staking rewards
LUNA holders can earn rewards by depositing LUNA on the platform.
This is called staking, and the deposited LUNA is used by the algorithm to stabilize the price of stablecoin.
LUNA holders can also get a transaction fee at the time of LUNA settlement.
You can get the right to vote for the project according to the number of possessions
LUNA can participate in determining the direction of the Terra project depending on the number of possessions.
LUNA holders can participate in voting in Terra project votes, and the higher the number of holdings, the more votes are possible .
Access to various blockchains
On September 22, 2020, Terra (LUNA) announced the release of Dropship, a protocol that allows stablecoin UST to be moved to multiple cryptocurrency blockchains such as Bitcoin and Ethereum. ..
First, we aim to use UST on DeFi and DEX by making UST (TerraUSD) transferable to Stablecoin on the Ethtereum and Solana blockchains.
As UST can be used for DeFi and DEX, the usage scene of Terra will increase.
Terra Stablecoin exists
There are several types of stablecoins in Terra, such as UST, euro (EUT), and Canadian dollar (CAT), which are dollar stablecoins.
In particular, UST is a stable coin that has become so popular that it ranks 5th in the market capitalization ranking, and it can be said that it has a certain degree of popularity and convenience.
Offering Terra Stablecoin deposit service
In March 2021, Terra released a deposit platform called Anchor.
It is possible to get a return as an interest rate by depositing stablecoin on this platform.
For example, if you deposit UST, which is a stable coin of dollars, the return interest rate will be as high as 20%.
Considering that the interest rate of dollar-denominated deposits at major Japanese banks is about 5% even if it is high, it can be said that the merit of getting a 20% return is very high.
To purchase stablecoins including Terra (LUNA), you need to purchase Crypto currencies such as Bitcoin and Ethereum and transfer them to overseas exchanges.
Terra (LUNA) price changes so far
As you can see in the image above, Terra (LUNA) has been volatile since the beginning of 2021 due to the release and development of its new service and the fluctuations in the price of the altcoin market.
The following three points are the most noticeable changes in prices.Conspicuous price changes
- March 2021: Reached about $ 22
- May 2021: Fall to nearly $ 4
- September 2021: Reached about $ 43
March 2021
On March 22, Terra (LUNA) rose about four times from the beginning of the month, reaching its all-time high of about $ 21.85 .
The reason for this increase is the release of Anchor , a deposit service of Terra (LUNA) .
Immediately after the release of the Anchor Protocol, a large number of Terra participants deposited stablecoins, and the market capitalization of the Anchor Protocol instantly reached $ 400 million.
May 2021
Cryptocurrencies have fallen across the board in the cryptocurrency market in May.
Tether ( USDT ) and USDC, which are stablecoins similar to Terra (LUNA) , have survived a big decline due to the confidence that they are cryptocurrencies backed by USD.
However, Terra’s UST was unable to make the algorithm work well and the price fell .
As a result, prices fell by about 70% in the five days from May 18th to 23rd.
September 2021
In September , the price of Terra (LUNA) rose significantly, and on September 10th it was about three times the price on September 1st .
This surge is believed to be due to the announcement of Terra’s new development project, “Project Dawn .”
On September 9, Terra launched a project called “Project Dawn” to improve the infrastructure of its platform.
Raise $ 150 million and have a team of engineers carry out infrastructure updates.
TFL announces Project Dawn, a new funding initiative for critical infrastructure improvements and core technologies to supplement the accelerating growth of the Terra ecosystem.
Source: Twitter
It is said that the financing for this infrastructure update has increased the demand from those who thought that the technology and the function of the platform would be improved.
In order to purchase the Terra (LUNA), first national Crypto is a currency exchange Binance is such as to buy a bit coins recommended for remittance to overseas exchanges.
Please take this opportunity to open an account with Binance.
\ No.1 in the number of application downloads /
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Current price trends of Terra (LUNA)
September 2021 is the month when Terra (LUNA) fluctuates significantly.
We have summarized three points in time that seem to have changed significantly.Big fluctuations in September
- Approximately 30% down on September 7
- 50% increase from September 10-12
- Price drops 25% on September 20
1. Approximately 30% down on September 7th
September 7th Terra (LUNA) prices have fallen.
This is said to have been affected by market unrest over DeFi tokens.
Originally, LUNA had a mainnet called Columbus-5 scheduled for September 3, but the upgrade was delayed and concerns about LUNA’s development capabilities covered the market.
In addition to that anxiety, on September 6, Chairman Charles Randall of the Financial Conduct Authority of the United Kingdom strongly criticized Kim Kardashian for promoting a cryptocurrency called Ethereum Max on his SNS in June. ..
As a result, the market has been paying close attention to the tightening of crackdowns on cryptocurrencies.
As a result of these uncertainties, Terra (LUNA) prices are thought to have fallen by about 30% in a single day .
2. Increased by 50% from September 10th to 12th
As mentioned earlier, on September 9th, Terra (LUNA) announced “Project Dawn” as a project to update its infrastructure.
Following the announcement, the price rose by 50% from September 10th to 12th due to investor buying in anticipation of Terra (LUNA) innovation.
In the future, when such a new project is announced, the price may rise due to the expectation.
3. Price drops 25% on September 20th
Around September 20, the price of Terra (LUNA) has dropped by about 25%.
This decline seems to be linked to the downward movement of prices in the entire cryptocurrency market.
The cryptocurrency market around September 20 has been affected by the risk of bankruptcy of the Chinese real estate company Evergrande and the movement to escape from the risk , and the whole including Bitcoin and Altcoin has fallen.
If, contrary to the movement of the risk off to try to buy the Crypto currency Binance would be good.
Binance provides a tool that allows you to submit important documents on the spot, so you can open an account smoothly.
\ No.1 in the number of application downloads /
Click here for the official website of Binance
Point of price increase of Terra (LUNA)
The point of the price increase of Terra (LUNA) is mainly the increase in demand for LUNA and Terra stablecoin.
Rising demand for LUNA and Terra stablecoins is thought to affect commercialization and increase / decrease in supply to the market.
Demand for LUNA increases
Of course, rising demand for LUNA is a major factor in price increases.
Celebrities and companies buying LUNA and listing on crypto exchanges will increase demand as they indicate an increase in LUNA trading volume and the potential of Terra’s projects .
In addition, listing on the exchange will increase the convenience of purchasing LUNA, which will also be an opportunity for smooth supply to meet demand.
Terra will be put into practical use
The practical application of Terra’s services will also be a factor in increasing the usage scenes and applications in the future and raising prices.
Terra is actively developing with the goal of putting stablecoin into practical use.
In fact, Won’s stablecoin TerraKRW is used in Korean e-commerce through an E-wallet called Chai in South Korea.
Officially, payment solutions using Terra KRW, such as Chai, have been successful in significantly reducing fees and payment times .
In addition, the above-mentioned Drop PJT will make it available for DeFi and DEX, and its applications will increase more and more.
In this way, Terra is steadily increasing its usage scene, and it is expected that it will be put into practical use in the future.
If you want to buy a Crypto currency aimed at the price increase due to future demand for alto coins, such as Terra is, first Binance Let’s go to open an account with.
The Monex Group, which has a proven track record in the financial business, carefully examines and lists stable and high-demand Crypto currencies, so the lineup of altcoin, which is considered to be promising in the future, is substantial.
\ No.1 in the number of application downloads /
Click here for the official website of Binance
Future forecasts and outlooks for Terra (LUNA)
Will the price of Terra (LUNA) rise or fall in the future, and what will happen? Below are some predictions about future prices for Terra (LUNA).Future forecast / outlook
- Coinpedia : $ 10.48 in 2022, $ 100.63 in 2025
- Walletinvestor : $ 52.34 in 2022, $ 129.08 in 2025
- ICOCREED : $ 44.82 to $ 52.11 in 2022, $ 135.94 to $ 140.88 in 2025, $ 913.82 to $ 939.43 in 2030
Coinpedia
Coinpedia says that the price of Terra (LUNA) has a great influence on the progress of development, the trend of regulatory agencies, and the investment trend of investors in Terra (LUNA).
According to Coinpedia, Terra (LUNA) will be $ 50 in 2020, $ 10.48 in 2022, and $ 100.63 in 2025, without major restrictions such as regulations.
Walletinvestor
WalletInvestor is somewhat optimistic about Terra (LUNA) price movements , forecasting $ 52.34 in 2022 and $ 129.08 in 2025 .
ICOCREED
According to ICOCREED ‘s AI technical analysis, the price of Terra (LUNA) is expected to rise gradually to $ 913.82 to $ 939.43 in 2030 due to investment in long-term development and so on.
As you can see, various companies are expecting the price of Terra (LUNA), but unless there is a big regulation, the price of Terra (LUNA) is expected to rise moderately.
Nasdaq mentions Terra (LUNA) as a potential payment servicer comparable to Paypal and Western Union, which are famous for online payments and international money transfers.
Terra (LUNA) has the potential to change the world centered on online payments such as e-commerce.
On the other hand, as mentioned in each forecast, it is very likely that it will be affected by the regulations of each country, so caution is required.
It is recommended to use Binance , which is one of the largest exchanges in Japan .
Since the transaction fee is free, you can purchase at a low cost.
\ No.1 in the number of application downloads /
Click here for the official website of Binance
Exchanges where you can buy Terra (LUNA)
Terra (LUNA) cannot be purchased on global exchanges.
Terra (LUNA) cannot be purchased on global Crypto currency exchanges, so purchase Crypto currencies such as Bitcoin and Ethereum that can purchase Terra on global exchanges and go to overseas Crypto currency exchanges. Let’s send money .
However, since overseas cryptocurrency exchanges are not approved by the Financial Services Agency of Japan, you need to be careful when using them.
At overseas exchanges, you buy Terra in Crypto currencies such as Bitcoin or Ethereum.
As of September, the major exchanges where you can purchase Terra (LUNA) are as follows.Major overseas exchanges where you can purchase Terra (LUNA)
