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CRYPTOCURRENCY

Terra Reaches All-Time High.

Current Status: A Race towards US$200

The current price for Terra is US$106.56 with a 24-hour trading volume of US$3.33B. LUNA’s price is up 1.37% in the last 24 hours. Today, Terra’s all-time high is US$109.26.

The price for Terra needs to rise 2.53% to reach a new all-time high. It has a circulating supply of 355.33M LUNA with a total supply of 752.4M LUNA.

As the LUNA Foundation Guard (LFG) continues to buy Bitcoin for its long-term target of US$10 billion, that could lead to an increase in demand for UST. 

Thus, moving LUNA tokens out of active supply could also increase the price of LUNA.

Moreover, analysts believe the increase in buying pressure could result in the price reaching the next level of US$122. 

As the sentiment surrounding the LUNA price movement grows, the price could also increase with more double-digit gains.

This is leading the analysts to predict that 2022 may see Tera reach a price of US$200.

A Recap on the Basics

Terra is a blockchain protocol that utilized fiat-pegged stablecoins in order to offer price-stable global payments systems. As per the white paper,

Terra joins the price stability and huge adoption of fiat money with the censorship-resistance of Bitcoin (BTC) and provides fast and affordable settlements.

Moreover, the development of Terra started in January 2018, and it officially started in April 2019.

As of September 2020, it provides stablecoins pegged to the USD, South Korean won, Mongolian tugrik,

 And the International Monetary Fund’s Special Drawing Rights basket of currencies and it intends to roll out additional choices.

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