Price for today
0 USD 2.38%
0.00000001 BTC -0.36%
Name Terra
Symbol LUNA
Circulating supply 6 557 680 900 000 $
Max supply 0 $
Cmc rank 210
Volume 24h 179 958 070 $
Percent change 1h 0,13 %
Percent change 24h 2,4 %
Percent Change 7d 43 %
Terra is an open-source advanced payment system, which is based on a stablecoin that maintains its value using a mechanism of rising and decreasing the number of coins depending on demand. To maintain the same Terra price, LUNA actually acts as a market maker. In June 2019, the Terra blockchain payment system was implemented in the CHAI app. In just a few months after launch, CHAI reached over 400,000 unique users in Korea. Integration with major banks simplifies user interaction and allows you to check out in stores with just a few taps. Terra is a partner of an e-commerce platform alliance that will use the payment system to make payments. This alliance includes the giants of the Asia-Pacific region and numerous multi-billion corporations.
Can you imagine a cryptocurrency whose ecosystem allows you to vote on the decisions taken in the network? Now add stablecoins and an attractive coin to hold because of its fixed value and you’ve discovered the LUNA coin by Terra.
LUNA coin is a programmable online currency. The blockchain behind LUNA, is called Terra and uses stablecoins on its network to offer low fees and faster transactions. To keep global payments prices consistent, Terra uses an algorithm for its stablecoin that follows suit with the $ price changes.
According to Terra's white paper, it delivers rapid settlements at a low cost while keeping price stable. They rely on outside finances as they don't make profits from transactions. There are fewer nodes than in Bitcoin so it can be argued that it is less decentralized. However, Terra offers an Anchor app for people worldwide.
Terra's mainnet officially went live on 24/04/2019, according to their Twitter account. Currently, it provides stablecoins tied to won, $ and a few other options.
The protocol's stablecoins are priced using LUNA. Holders of LUNA have the option to propose and vote on changes to the LUNA governance model.
When Luna partnered up with Pomelo, Woowa Brothers and a few other companies, its annual transaction volume soared above 25 billion $ and its price sky-rocketed in Aug 2018;
In May 2018, it was hacked and $10 million in user funds were stolen; In July 2021, Terra price fell owing to a dip in Bitcoin and other cryptocurrencies. Otherwise, the Terra price has mostly stayed stable over the previous few years; In 2021 the coin experienced the biggest increase in price due to the successful launch of the Anchor app.
Nevertheless, the total supply of Luna is equivalent to one billion LUNA coins, while the LUNA presently in circulation is 400 million LUNA. When stablecoin adoption started to increase, UST became more useful. At times UST’s value goes higher than 1-dollar peg. That’s when Luna holders are urged to change LUNA for UST.
Users believe in LUNA and it’s price raise. As blockchain network adoption continues, this is a common prognosis for the market. When its price goes up, LUNA holders see it as a short-term volatility.
Opposite to this, fewer transactions will result in the re-buying of LUNA tokens, some of which will be burned. Terra and LUNA stability are connected: when LUNA gives it up, Terra keeps positions and price stability. But we should remember, that LUNA coin’s long-term scarcity is its unique selling point, even if its more volatile.
The total market value of the LUNA crypto may be determined by multiplying the circulating supply by the current price. It's true that circulation may be lowered or boosted gradually. The two most obvious factors that affect cryptocurrency prices are the withdrawal of capital by investors and the creation of new coins by miners.
Terra's value surged in the spring of 2021 as a result of Terra making the Anchor app in March.
By the end of the summer of 2021, Terra's price and circulation volume will have increased significantly.
TerraUSD's rise in demand sparked a rise in LUNA crypto usage as well. However, mining UST reduces the supply of LUNA crypto, resulting in deflation. The news of Terra's impending Columbus-5 update, which smooths the Mantle's architecture and the network's programming capabilities, is the third element driving Terra's Luna price upward.
Luna crypto tokens can easily be exchanged on Godex. No need to register, and the Luna exchange cost is preset at the time of the transaction. This stands for higher levels of security and peace of mind. The most popular LUNA exchange pair is Luna to USDT.
You can exchange LUNA by first buying Bitcoin or Ethereum and then using a Terra exchange to buy LUNA with one of those cryptocurrencies.
Terra is a protocol for stablecoins creation (stable-priced cryptocurrencies). Pantera and Arrington capital companies have invested in Terra to promote its projects, according to their CEO’s, Twitter accounts and Blockchain.cc. Terra has millions of users and has stablecoins pegged to traditional fiat currencies. Examples include USD to USDT, CAD to CADT, YEN to YENT and more.
LUNA is a stablecoin. Terra's coinage works in a different way. LUNA token backs up stablecoins, which is specified in an algorithm.
We also have Wrapped LUNA, which is an ERC-20 token on the Ethereum blockchain. The goal of WLUNA is to allow users participate DeFi (decentralized finance) dApps on Ethereum. It also can be trade or hold.
In order to maintain the price consistent, algorithmic stablecoins make use of a central bank or a pool of tokens that are managed by smart contracts (small bits of code placed on the blockchain). If the price of UST rises above $1, for example, the algorithm will employ LUNA to create additional UST and reduce the price. UST would be exchanged for LUNA if the price fell, and vice versa if the price rose. Look at Luna price chart to see Terra price usd and how volatile the currency is in short and long term.
Token holders can buy Terra stablecoins, which absorb volatility.
There are 400 million coins in circulation, with a total supply of 996 million LUNA. Godex is the most active exchange right now if you want to buy or sell Terra.
To buy and sell Terra to usd, you'll need a digital wallet, a secure internet connection, and some sort of payment system. LUNA converter on Godex is simple. There's no need to sign up to convert LUNA, and the exchange rate for LUNA is fixed at the time of the transaction. USDT, BTC and ETH are the most popular cryptocurrencies to convert LUNA with.
