LUNA Drops 20% As Investors Panic, What Is The Link With Anchor And UST?

LUNA has been dropping sharply in the past few days, deeper than larger cryptocurrencies. As of press time, Terra’s native token moves on critical support barely above $50 with a 16.4% loss in the last 24 hours.

Related Reading | Terra Announces Non-Profit ‘Luna Foundation Guard’

Luna Terra LUNAUSDT Anchor
LUNA on a downtrend in the 4-hour chart. Source: LUNAUSDT Tradingview

According to Wu Blockchain, the token lost as much as 20% in the last day. Apparently, retail investors have been panic selling their LUNA funds due to concerns about several of its dApps and UST. The latter is one of many stablecoins operating on the Terra ecosystem which is based on a supply and demand mechanism to maintain its peg.

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As NewsBTC reported back in December, UST has been gaining relevance across the DeFi sectors. The stablecoin allows holders access to the Anchor Protocol, Terra-based lending and borrowing application that consistently offered its users a 19.5% compounding yield on their UST deposits.

This rate surpasses that of its competitors, some of which have issues offering a 10% yield with similar products. However, the current downtrend in the crypto market has heavily impacted LUNA and the Terra ecosystem.

Some users believe the ecosystem as a whole could be in danger as a result of a reduction in Anchor’s reserves which according to some projections could reach $0 in the coming weeks. Without these funds, the protocol would be unable to pay off its users and due to Terra’s mechanism, it could trigger a fresh leg down across its assets.

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The pegged in UST has been offered in the past days, as more users seem to believe this theory. Thus, panic spreads amongst sellers looking to mitigate their losses. As of press time, UST has seen an important recovery as it hit a multi-month low of 0.98 versus the U.S. dollar.

UST recovering its pegged on the 4-hour chart. Source: Tradingview

Terra (LUNA) Inventor Addresses Concerns Around Anchor

Do Kwon, co-founder, and CEO of Terraform Labs, the entity behind Terra’s ecosystem, recently addressed the controversy generated around Anchor and UST. In an attempt to counterbalance the FUD, as some LUNA holder has called it, Do Kwon emphasized Anchor’s objectives.

The first, he wrote on a Twitter thread, is to make market yields on stablecoins less volatile, while increasing the capital efficiency of the platform. Anchor’s Yield Reserve is a “centerpiece” to address these issues, but this component of the protocol can operate with a surplus or a deficit. Kwon said:

Recently as leverage started to wind down from crypto markets, deposits have gone up a lot and borrowing down. The yield reserve has been running at a deficit to maintain the deposit yield.

Users seem to believe that the Yield Reserve, Kwon said, should “always operate at a surplus”, and that the YR depletion will “have disastrous consequences”. The co-founder of Terraform Labs said that Anchor’s Yield Reserve was always designed to be used on current market conditions.

On the second widespread concern by users, Kwon said that if the protocol runs out of funds in its Yield Reserve, it will “operate as a regular money market” still offering users around 15% to 16% in incentives. Therefore, he concluded that the protocol, and by extension the ecosystem, “will be fine”.

Related Reading | NEAR Records 70% Rally On Terra Integration, Will It Close The Year In Profit?

In the future, the team at Terraform Labs will make improvements to reduce “LUNA dominance in Anchor collateral under 40%”. In that way, a similar situation could be prevented. In the meantime, Kwon said:

I am resolved to find ways of subsidizing the yield reserve. Anchor is still in the growth phase, and maintaining the most attractive yield in DeFi stable will strengthen that growth & build up moats.


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NEAR Records 70% Rally On Terra Integration, Will It Close The Year In Profit?

During December, highly scalable blockchain Near and its underlying asset has experienced an important rally. Coming in hot from a monthly low at around $6, the NEAR token currently trades at $15,37, close to its all-time high north of the $16 mark.

NEAR trends to the upside in the 4-hour chart. Source: NEARUSDT Tradingview

In the past 7-days, according to data from Coingecko, NEAR has record a 71.5% rally and an 87.4% increase in the last 30 days. The team behind the protocol has been announcing improvements and partnerships that have contributed with this token’s trend to the upside.

Related Reading | LUNA Hits ATH After Astroport’s Deployment, Why Terra Could Continue Growing In 2022

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Terra’s UST stablecoin integration with NEAR and the Aurora ecosystem has been a highly expected event by users. Per an official post, the integration was facilitated by a partnership with NearPad, an Aurora DeFi gateway, and Rose, a liquidity and stableswap borrowing protocol running on the same ecosystem.

The team behind NEAR believes the partners will be able to strengthen the Terra ecosystem and stablecoin UST as they become more adopted on Aurora. In that sense, users will have several new use cases that will be able to leverage including moving assets from Aurora to Terra or any other compatible blockchain.

Users will be incentive to participate and to provide UST liquidity on the aforementioned ecosystems. Aiden Knox, founder of NearPad and Rose claimed the following on this integration:

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Partnering with Terra to bring UST to ecosystem to our community will be a big step towards growing the Near and Aurora ecosystem. I’m excited to be working closely with the Terra team to not only bring UST to NearPad and Rose, but also for the deeper integrations and collaborative projects this partnership enables.

NEAR To Support One Of The Fastest Growing Stablecoins

The Near protocol has been working on its interoperable capabilities as the project aims to support a “multi-chain future”. In that way, users will be the most benefits as more use cases, and applications become accessible, and they can reach any asset or projects in different networks. Co-Founder of NEAR Illia Polosukhin said:

NEAR has been built for simplicity, security and scalability. Stablecoins like UST provide a simple interface to store value and interact with apps which need to use a stable unit of account.

Recently, the Terra ecosystem implemented several major upgrades on the mainnet with provides it with interoperability, and a burning mechanism for its underlying asset, LUNA. As NewsBTC reported, this network has taken the crypto industry by storm.

Related Reading | Terra Begins LUNA Burning, Why It Could Target $140

In addition, Do Kwon, one of Terra’s founders, recently celebrated the expansion in UST as the stablecoin reached a $10 billion market cap. Thus, it has become the largest decentralized stablecoin which demonstrates, according to Kwon, that “there is no more doubt in the product market fit”.


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LUNA Hits ATH After Astroport’s Deployment, Why Terra Could Continue Growing In 2022

Maybe one of the best-performing assets in 2021, LUNA has been trending against the market for the past 2 weeks. While Bitcoin, Ethereum, and other major cryptocurrencies remained rangebound, the native token for the Terra ecosystem re-entered uncharted territories.

Related Reading | Terra Begins LUNA Burning, Why It Could Target $140

As of press time, LUNA trades at $87 coming in from a monthly low at $38 which represents almost a 40% increase over that period.

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LUNA on a rally in the 4-hour chart. Source: LUNAUSDT Tradingview

As reported by NewsBTC, Terra deployed several improvements on its mainnet in the past months. These included Colombus-5, Wormhole v2, and an Inter-Blockchain Communication (IBC) protocol.

The first of these upgrades could be the fuel that has triggered LUNA’s rally as it implemented a burning mechanism into the network. Effectively, this upgrade has turned LUNA into a deflationary asset that will continue to see buying pressure into the future.

Per a report by Delphi Digital, the Terra ecosystem has also benefited from the deployment of Astroport, an Automated Market Maker (AMM). The protocol is yet in an early phase but has already seen over $1 billion in capital inflows.

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This capital injection into Terra’s ecosystem coincides with LUNA’s rally which goes to show the importance of adoption for this token’s performance. Delphi Digital said:

LUNA price notched another ATH today before retracing lower. The price increase over the last few days was likely triggered by investors buying spot LUNA to lock up in the Astroport lockdrop, then hedging their position via perpetual futures to remain delta neutral.

Source: Delphi Digital

As the chart also shows, LUNA has the right ingredients to continue its rally: reaching price discovery on negative funding rates for the derivatives sector, which suggests speculators expected more downside in a short time. It remains to be seen if the trend will be able to hold in 2022.

Terra (LUNA) And Its Potential To Take Over 2022

LUNA’s ecosystem has displayed strength in other sectors. The network’s native stablecoin UST has been gaining more adoption and could potentially disrupt this sector of the crypto market.

Delphi Digital records an increase in market capitalization for UST since December 15th. This stablecoin has been in a close fight with DAI, one of Ethereum’s most prominent assets, as seen below. Delphi Digital added:

UST and DAI have been neck-and-neck in terms of market capitalization, with UST briefly overtaking DAI as the 4th largest stablecoin last week. Yesterday, UST overtook DAI more decisively as it had been trading higher for at least the last 24 hours.

Related Reading | LUNA Outperforms Bitcoin’s Rally, Why It’s Ready For Massive Gains

Christmas is still some days away, but December has already proven itself as one of LUNA and Terra’s most important months in 2021. With solid fundamentals, this network seems poised to continue its upwards trend in the near future.


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LUNA Outperforms Bitcoin’s Rally, Why It’s Ready For Massive Gains

Bulls are in control as Bitcoin and the crypto market break every all-time high, coming into the top 10 is Terra’s native cryptocurrency LUNA with a 12.9% rally in the daily chart. Trading north of $40, at press time, this cryptocurrency has outperformed BTC and major altcoins in lower timeframes.


However, LUNA could be just firing up its engines and getting ready for a fresh leg-up in the short term. The Terra ecosystem has been implementing major improvements to its ecosystem in the past months.

Related Reading | Why The Terra Ecosystem Delayed A Major Mainnet Upgrade For Late September

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Therefore, LUNA could have multiple bullish reasons to continue to outperform the market. As researcher Ryan Watkins recently indicated, Terra is closed to implementing all 3 massive upgrades on its infrastructure.

The Colombus-5 and Wormhole V2 upgrades have gone live, and the Inter-Blockchain Communication (IBC) protocol upgrade is set to roll out today, October 20th.

As NewsBTC reported in August, Columbus-5 was delayed providing every actor on the Terra ecosystem with more time to prepare for the upgrade. Designed to introduce a deflationary mechanism for LUNA, this upgrade will increase Terra’s interoperable capabilities while creating more demand for its underlying asset.

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In the meantime, the Wormhole upgrade will operate as the communication component between Terra, Ethereum, Solana, Binance Smart Chain, and potentially more blockchains in the future.

Related Reading | Why Terra (LUNA) Will Reward Users With New Community Bounty Program

In addition, the upgrade introduced a user interface that will remove friction between the network value transfer capacity. Finally, the IBC protocol will allow Terra to benefit from “permissionless trans of tokens across chains”. The team behind Wormhole celebrated the achievement:

Terra is known for its vibrant ecosystem, #LUNAtic community, and its decentralized stablecoin, $UST. Terra has grown at a dramatic rate in recent months, and we’re excited to unleash Terra innovation on the SOL, ETH, and BSC communities!

LUNA Ready For Take-Off? Bull Market In Its Early Days

Historically, tokens with interoperable capacities have performed well. Binance Smart Chain token BNB, integrated with its own burn mechanism, went from a low below $30 in 2020 to an all-time high above $600 on the back of its CeDeFi utility.

Related Reading | Can LUNA Reach $170? This VC Fund Thinks It Has The Fundamentals

Terra has another secrete weapon in its stablecoin UST. Talking about recent developments, Watkins claimed that the Terra ecosystem has built the potential for a new cross-chain trade boom. In September, the researcher made the following prediction:

With Colombus-5 and Wormhole V2 going live in the coming weeks, UST growth will likely accelerate, setting it up to challenge DAI for the top spot among decentralized stablecoins.

As seen in the chart below, Terra’s native UST has taken the decentralized stablecoin market by storm. Since February 2021, its dominance over this sector has skyrocketed and seems poised to continue the trend with an upgraded ecosystem.


As Watkins pointed out, there are two main trends that will allow UST and Terra to grow: new capital coming into the ecosystem due to the upgrades, UST moving onto new platforms.


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Why The Terra Ecosystem Delayed A Major Mainnet Upgrade For Late September

After a 130% rally over the past month, Terra (LUNA) is one of the best-performing assets in the crypto market. At the time of writing, LUNA trades at $31.95, a little over a year ago it was barely breaking out above $1.


The massive price appreciation is driven by a growth in the LUNA ecosystem and an increase in demand for its stablecoin UST. In order to support this growth, Terraform Labs (TFL) has been planning to introduce an update.

Called Columbus 5, its mainnet deployment has been delayed for 3 weeks, according to an official post. The update will take place at the height of block 4,724,000, on September 30, 03:30 UTC.

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The team behind Terra claimed that they want to “implement some extra precautionary measures” to roll out the update. They added:

(…) the Columbus-5 mainnet upgrade is massive. Behind the scenes, numerous moving parts require attentive and thorough examination from multiple perspectives + reviews between TFL, eco partners, the community, and projects dependent on Terra applications.

In addition, they provided 3 main reasons that led them to delay the update. First, the network will have a new version of Mantle, their framework to write indexes or Extract-Transform-Loan (ETL) logic.

This new version of Mantle will be more scalable and will be able to support “significantly” more traffic. It will be introduced with Colombus 5. Terraform Labs claimed:

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Mantle plays a critical role in mediating application network traffic on Terra, ensuring the compatibility of the new version between Col-4 and Col-5 is paramount, requiring additional testing to verify the new design changes.

The second reason for the delay is due to Terra’s partners and third-party projects. The team behind the ecosystem wants these projects to have more time and “breathing room” to migrate to Columbus 5.

This includes projects like Mirror, Anchor, TerraSwap, Shuttle. Before the update, the developers behind these applications must be familiar with the updated mainnet.

Terra Will Update To Support Massive Growth

As Terraform Labs said, the LUNA ecosystem’s total value locked (TVL) stands at $7.3 billion with “tens of thousands” of new stakeholders, and builders coming into the platform. Thus, why they have decided to grant their community and developers more time to prepare:

The original timeline produced a hurried window for some projects to properly prep for Col-5. Giving projects more time to acquaint themselves with the Col-5 testing environment and migration plans for major apps ensures a smoother runway for projects launching post-Col-5.

In that sense, the team made a commitment to provide more documentation and educational material for the community to “use the update properly”. In this documentation, they will address some of the community and third-party project’s concerns on Col-5.

The official migration guides for Mirror and Anchor will be released on September 13th, meaning web apps, contracts, and bots will be functional and operational on Bombay for users by this time. TerraSwap has already been migrated.

In the coming weeks, Terraform Labs will give more information on the “sequence of events” leading to the mainnet. Thus, they will make it a priority to “guarantee” a “smooth” Col-5 launch.


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Layer 1 Crypto Token Surge Brings 200% Gains During August

Arcane Research recently published a crypto market update and explored the rise of layer 1 tokens over the past 30 days. The season of “ETH Killers” as the research firm and many others have called them.

Although the second cryptocurrency by market cap was leading the crypto market up until a few weeks ago, its competitors have been gaining traction, smashing all resistance towards new all-time highs.

As seen in the chart below, some layer 1 tokens in the crypto market have experienced massive rallies in August.

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Solana (SOL) leads the chart with a 221% rally, followed by Terra (LUNA) with a 217% rally, Fantom (FTM), and Avalanche (AVAX), sit at the last spots of the biggest layer 1 tokens with a 215% and 210% rally, respectively.

Crypto Ethereum Solana Terra

Binance Coin (BNB, 38%), Ethereum (ETH, 28%), and Polygon (MATIC, 22%), also made the cut with important profits in the same period.

Crypto exchange Binance’s token slowed down on its late 2020 rally. Similar to SOL, LUNA, and AVAX, BNB surged on the back of the DeFi boom as users migrated to the Binance Smart Chain ecosystem due to its high fees.

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Solana seems to have taken part in its market share. Arcane Research noted the increase in this token’s market from $9.5 billion to $35 billion in one month. SOL climbed its way to the 8th position in the crypto top 10 by market cap.

The report attributes SOL’s appreciation to its high throughput of 50,000 transactions per second with low fees when compared to Ethereum. This has made Solana attractive for developers.

As NewsBTC reported, some experts believe SOL will be one of the best performing crypto assets of 2021. Despite its 221% rally in August, there seems to be room for more appreciation based on the token’s growing fundamentals.

Ethereum, King Of Crypto In The DeFi Sector

The DeFi and the increase in adoption of the non-fungible tokens (NFTs) sector could determine which crypto will dominate the market in the coming months.

In that sense, the total value locked (TVL), a controversial metric due to its “sketchy” accuracy, in Solana recently surpassed the $2 billion mark.

However, Arcane Research claims that no layer 1 network will be able to outperform Ethereum in terms of DeFi market share. Data from DeFi Pulse record a TVL of $89 billion for all DeFi protocols.

The Ethereum network has supremacy in this sector, the most popular dApps are hosted on its ecosystem. Aave, MakerDAO, Curve Finance, Compound, Uniswap, Yearn Finance, SushiSwap.

Crypto Ethereum DeFi

These protocols have a total value locked (TVL) ranging from $4.2 to $15.86 billion. The smallest DeFi protocol in the Ethereum top 10 by TVL has double that held on Solana, Arcane Research claimed:

ETH has experience growing transaction fees amid the NFT frenzy, possibly attracting more users to other chains. However, in the ecosystem overall, Ethereum remains the clear leader, and it seems unlikely that any other protocol will dethrone Ethereum’s position in the near future.

At the time of writing, ETH trades at $3,398. The second crypto by market cap has a 5.2% profit in the daily chart.

Crypto Ethereum ETH ETHUSD Solana SOL Terra LUNA LUNAUSDT


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Why Terra (LUNA) Will Reward Users With New Community Bounty Program

Before the crash in the crypto market, Terra (LUNA) saw one of the strongest rallies of 2021. This platform’s native token traded under $1 early in the year and reached an all-time high of $22 before dropping to its current price at $5,88. The rally translates into a 2,691% profit in one year.


Its ecosystem has been growing equally fast. Therefore, the protocol has decided to launch Terra’s Community Bounty Program. The official announcement claims the following:

Terra’s ecosystem is flourishing. Third-party projects are popping up seemingly every day & opportunities for community members to contribute to the growth of TeFi are abundant.

In light of this growth, the protocol has launched this initiative and with-it financial incentives for the users to help spread the benefits of this ecosystem. The program has been created in partnership with Terra Bites, a podcast dedicated to this protocol, and Learn Terra.

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The program has the objective of increased the adoption of this protocol and the applications based on its ecosystem. The team behind Terra believes educational content can help bring more users to the platform.

High-level overviews of Terra applications, step-by-step tutorials of how to use apps, and detailed guides on the widening variety of yield farming strategies using Terra assets have helped onboard new users and provided better context on the Terra ecosystem.

How To Contribute With Terra, Its Ecosystem, And Earn Money

Every Friday, users and community members can find 3 “bounty topics” listed on Learn Terra’s official website, in the Bounties section. Participants can submit the bounties, written articles of around 1,500 words that cover different topics and earn rewards in UST, the protocol’s native stablecoin.

The articles can be tutorials, walkthroughs, analyses, and other formats. The program’s first-month bounty will be funded by Terraform Labs (TFL). Later, it will receive funding from a Pylon Protocol deposit contract.

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Pylon is comprised of a series of saving and payments DeFi products build on top of Terra’s Anchor Protocol. It has been created for purposes such as the bounty program; to tackle transactions between long-term value provides and consumers.

Each week, TFL and Terra Bites will select 3 bounties. The winner by each category will receive $500, and the other two places will receive $100 and $50, respectively. At first, submissions will be accepted via written articles but will be expanded in the future.

Content bounties will originally be confined to written content from topics selected by TFL and Terra Bites. However, we are exploring expanding the program to include visual content, including video walkthroughs, animated explainer videos, graphics design, and more. Bounty topics will also be open to contributions from the community down the line.

Participants must send their submissions via a Medium post, created from their own accounts, before the Wednesday after the bounty has been posted at 5 PM PST.


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Can LUNA Reach $170? This VC Fund Thinks It Has The Fundamentals

The Rockaway Blockchain Fund (RBF) has published a bullish case on Terra (LUNA) and its growing ecosystem. This project has been gaining a lot of attention in the crypto space and its price reflects the hype with an 8,809% rally in the 1-year chart.

At the time of writing, LUNA moves sideways in the lower and higher timeframes and trades at $16,67. The 30-month chart remains in the green, still showing a 6.3% profit. However, RBF believes there is still room for a massive rally.


RBF made a previous prediction in 2020, expecting Terra and its ecosystem to drive the price of its native token to $5 by 2025. Their prediction was outperformed by a wide time margin. Therefore, they have set a new price target at $170 for the next 5 years. The main reason, LUNA’s deflationary supply:

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The higher LUNA price will be driven by a decrease in the LUNA token supply as well as by the fact that cash flow will be distributed among proportionally fewer staked LUNA tokens.

LUNA’s Burn And Mint Mechanism

Terra’s ecosystem is based on its stablecoins supply (UST, KRT). Unlike Tether (USDT), USD Coin (USDC), and other similar assets, Terra’s stablecoin are decentralized and rely on a stability mechanism to maintain their price pegged to the U.S. dollar.

This mechanism requires that for every UST or KRT minted, 1 LUNA must be burn. As RBF stated in their report, the mechanism works both ways and could boost LUNA’s price further as Terra takes over a bigger stablecoin market share.

In April 2021, the total stablecoin supply stood at $75 billion which represented a 91% increase since January 2019. In contrast, the U.S. Dollar monetary supply has grown by 5% since 2000 and will reach $4.5 trillion by 2025, according to RBF estimates. Stablecoins could amount to around 20% of this future supply.


Terra could have around 20% of the stablecoin market by that time. With more substantial growth than the rest of its competitors. RBF believes that Terra could “become the leading stablecoin provider” in the same period. The report claims:

In our model, we account for this supply decrease as cash flow to stakers, because the net economic effect is similar. This projected increase of the total stablecoin supply is the main value driver behind the LUNA token price. Past daily minting amounts (left axis) together with the cumulative UST supply (right axis) are shown on the chart below.


Terra’s savings protocol Anchor could be the main driver. Decentralized Finance has seen incredible adoption in the past year. In this sector, trading is the main use case. However, RBF expects Anchor to become the dominant force on savings. Thus, adding more burning pressure into LUNA. The report concluded the following:

we also believe the LUNA token can be worth more than $170 as the LUNA token supply decreases and cash flow will be distributed among fewer staked LUNA tokens. Investors in the LUNA token might see another 10x multiple on invested capital from current valuation levels.


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Why LUNA’s Recent Rally Could be the Start of a Bullish Trend

Amongst the best-performing assets in the crypto space over the past week, Terra (LUNA) has registered 18.9% gains over the weekend. Just behind AAVE (+19%), SNX (+20.8%), and SUSHI (+21.8%), LUNA has managed to outperform YFI and RUNE, two of the most resilient DeFi assets, per a Messari report.


Developed by Terraform Labs as a blockchain to support stable programmable payment and an “open financial” infrastructure with a lending protocol and a synthetic assets platform, Terra’s ecosystem is composed of a basket of fiat pegged stablecoins. LUNA is used to “stabilized” this basket.

Terra has the ultimate objective of replacing banks, credit card networks, and payment gateways, as stated in the protocol’s official website. Therefore, Terra has created a blockchain layer with solutions that can be adopted by merchants and consumers. Since its inception:

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(…) it continues to steadily provide infrastructural improvements and tools for the foundations of laying down a credibly neutral, distributed, and radically transparent ecosystem.

LUNA is trading at $14,21 with a 6.3% in the daily chart. In the weekly and monthly chart, LUNA has 8% and 30.6% losses, respectively. Although it has been following the general sentiment in the market, LUNA and Terra’s ecosystem seem poised to resume their bullish momentum.


Terra (LUNA) with potential to drive further demand

LUNA holders can use the token to obtain staking rewards from three main sources: compute fees or gas fees, taxes, and seigniorage rewards. The rewards are determined by the amount of LUNA staked. If the transaction volume on Terra’s blockchain increases, so do the rewards receive by LUNA holders.

Therefore, the rewards function as an incentive mechanism to bet on Terra’s long-term growth. Stablecoin UST, part of the ecosystem, saw an 800% growth in 2021, per a report by CoinGecko. This stablecoin climbed to the 5th position by market cap. The report claims:

Unlike most ETH-based algo stablecoins, UST has managed to create a reliable peg through an ecosystem than incentivizes usage and attracts a strong community.

Terra LUNA

Mirror protocol is powered by smart contracts based on the Terra network and is a major source for UST demand. The protocol allows users to create synthetic assets or Mirrored Assets, like stocks, that “mimic” the price of the real-world asset.

CoinGecko stated that Terra “capitalized on Robinhood debacle” when the GameStop (GME) drama reached its peak. Also, Terra’s Anchor Protocol offers a product with a 20% fixed interest rate based on UST. The report states:

Upcoming project such as Alice, SPAR And Vega are expected to further strengthen the demand for UST.

As reported by staking provider SmartStake, there was $4,7B LUNA staked as of April 17th with $223 million deposit in Anchor UST and $518 million in Anchor bLuna as collateral. Mirror Protocol as $2,078,234,849 on its platform. In total, Terra has a Total Value Locked of over $7 billion.

LUNA has been listed on Bitfinex, Tokocrypto, Bitfinex and is becoming a key component of Binance and its ecosystem.

Do Kwon, co-founder of the Terra ecosystem, shared a tweet by James Wang, an analyst at investment firm ARK Invest, with a highly bullish perspective on LUNA. Wang is a MIR holder and an active voter on its governance model.

Founded by Catherine Woods in 2014 and with $52.85 billion assets under management, ARK Invest is one of the most important investment firms in the U.S. It currently holds the “largest” Exchange Traded Fund (ETF) portfolio in the traditional market.

Do Kwon asked James Wang if they shall get ARK Invest to allocate capital on Mirror, Wang replied: “Yes!”. However, no official announcement has been made by Terraform Labs or Ark Invest.


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