$LUNA, the native token of algorithmic stablecoin platform Terra, might climb approximately 2-3X, according to the host of popular crypto analysis and market commentary show Coin Bureau.
Terra is a Proof of Stake (PoS) blockchain, according to Binance Research.
$LUNA is also “used in the issue of stablecoins (TerraSDRs), as a price stability mechanism. Also, as well as for staking and network governance,” according to them.
Terra was begun in January 2018 by South Korean blockchain business Terraform Labs (formed in January 2018 by Daniel Shin and Do Kwon). Then, and the Terra mainnet was deployed on April 23, 2019.
In a recent YouTube video,
Coin Bureau’s host “Guy” stated that $LUNA is on the verge of a big price increase.
Guy emphasized the advantages and growing popularity of TerraUSD ($UST), Terra’s US dollar-based stablecoin. Despite the fact that the crypto markets are now gloomy. Also, he anticipated that more platform utilization would lead to $LUNA doubling or tripling in price.
“The only thing that’s really holding LUNA back is its massive market cap. But the availability and popularity of UST means that LUNA might manage to squeeze out another 2-3x giving it a price tag of between $150 and $200. “
Guy also mentioned that $LUNA has a history of pumping when the rest of the crypto markets drop. Of course, which he attributes to the $UST stablecoin’s increasing demand. He stated the stablecoin has “safe-haven status,” which he claimed was proven by UST’s ability to withstand market downturns.
Guy was particularly optimistic about Terra’s decentralized applications (DApps), which have fueled even more $UST demand. Terra had only one DApp less than a year ago. That’s, according to Coin Bureau’s host, compared to over one hundred currently.
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