Terra’s LUNA token was not spared the ramifications of the recent crypto bloodbath. However, it’s one of the few top 10 coins, which is beginning to recover. Today, it gained 1.49%. If you want to know more about LUNA, like if it’s worth investing in, you’re about to find out in this article.
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What is LUNA?
Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.
Development on Terra began in January 2018, and its mainnet officially launched in April 2019. As of September 2021, it offers stablecoins pegged to the U.S. dollar, South Korean won, Mongolian tugrik and the International Monetary Fund's Special Drawing Rights basket of currencies.
Terra's native token, LUNA, is used to stabilize the price of the protocol's stablecoins. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.
Should I buy LUNA today?
LUNA can be an excellent investment, but it could reverse its gains as well. Cryptocurrencies are prone to extreme price swings in both directions. Take all investment advice and price predictions with a grain of salt.
LUNA price prediction
The LUNA/USD chart is one of the most bullish in the cryptocurrency market, FX Empire wrote. According to Wallet Investor’s forecast, LUNA’s price will surge to $200 by the end of 2023.
LUNA on social media
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