Terra (LUNA) is finally getting the recognition investors have been demanding 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.
With a 32% rally over the last 24 hours, LUNA scraped a new all-time high of $22.97 this morning and now hangs just a few rungs beneath the big players in the market cap rankings. Learn more about Terra in this article, and find out the best place to buy LUNA below.
How & where to buy Terra in the UK and elsewhere
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What is Terra?
Terra is a next-generation stablecoin protocol that uses variable issuance to maintain 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. fiat currency). 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 is also used in governance, meaning that it essentially serves as a proxy for the valuation of the Terra network itself. Terra is also home to a burgeoning DeFi ecosystem called Anchor, which claims to offer investors a 19.4% fixed interest rate on UST deposits. The mainstream’s discovery of this incredible arbitrage opportunity is a potential driver for LUNA’s recent rally.
Should I buy 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 touched $22.97 earlier today, and now appears to be making a renewed push for another all-time high.
Terra has long been a favourite of seasoned altcoin investors, and now might be the last opportunity to buy before the coin hits the big leagues, never to return.
This article is informational only — none of the contents should be construed as financial or investment advice.