• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Friday, May 30, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Terra Luna Price Hits New All-time High of $104, Why Is the Price Rising?

Kyle Portman by Kyle Portman
March 9, 2022
in News
Reading Time: 3 mins read
0
terra luna price all time high
Share on TwitterShare on Facebook

Terra Luna has been performing exceptionally well today, rising from a low of $84 and peaking at $104. Is this the beginning of a bull market for Terra? Let’s look at what Terra Luna is precisely and why the price is rising so much?

What Is Terra Luna?

The Terra protocol is a leading open-source, decentralized blockchain protocol for algorithmic stablecoins. An algorithmic stablecoin is a cryptocurrency that tracks the price of specific assets, usually traditional currencies like USD, EUR, etc.

Algorithmic stablecoins maintain their price peg through a set of algorithms instead of utilizing an underlying asset. Users can mint the underlying asset by burning Luna.

The Terra protocol creates stablecoins utilizing open market arbitrage incentives and decentralized Oracle voting, which can consistently track the price of any fiat currency.

The network consists of two tokens that power the protocol: Terra and Luna. Terra features stablecoins that track the price of fiat currencies by burning Luna. In addition, the stablecoins are named after Terra counterparts. For example, TerraUSD or UST tracks the price of USD.

Luna is the protocol’s native staking token which rewards users for locking up their assets. In addition, Luna is utilized for governance enabling holders to vote on proposals that shape the project’s future.

As you might have guessed, stablecoins are the main feature of the Terra protocol. You can think of the Terra Luna ecosystem as two separate pools which both expand and contract the price of Terra by incentivizing users to either mint or burn Luna. It’s a novel idea that seems to be catching traction among traders and investors.

Why Is Terra Luna’s price rising?

One apparent reason for Luna’s recent price hike is the growth of its ecosystem. Taking a look at Terra’s leading Decentralized Exchange TerraSwap, we can see that over the past 30 days, the exchange has seen a significant increase in both volume and liquidity.

Source: https://app.terraswap.io/

Over the past 30 days, TerraSwap saw over 1.45 billion in UST traded, with the liquidity peaking at $533 million on March 1st. This signals a continual growth of Terra’s ecosystem which means a higher valuation for the cryptocurrency.

Moreover, looking at the number of wallets for the Terra Station Wallet, we see a linear increase in the number of new wallets, yet another signal that Terra’s ecosystem is growing.

terra station wallet total thevrsoldier
Source: https://station.terra.money/

It’s clear that Terra’s ecosystem is snowballing, and the recent all-time high could be a signal that Terra’s Luna is ready for takeoff.

Terra is currently the seventh-largest cryptocurrency by market cap, boasting a $36.3 billion valuation at writing. Luna is on track to surpass XRP, the sixth-largest cryptocurrency with a market cap of $36.5 billion.

Terra’s ecosystem features dozens of dApps, NFTs, Metaverse projects, and more that we highly recommend you check out. Now is a great time to accumulate some underrated Terra-based coins that could see significant price gains if Terra continues its bullish momentum.

Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.


Also Read:

Top 3 Metaverse Crypto Coins With a Unit Price Below $0.03 (March 2022)

Follow us on Twitter @thevrsoldier to stay updated with the latest Metaverse news!

Tags: Terra Luna
Previous Post

Top 3 Metaverse Crypto Coins With a Unit Price Below $0.03 (March 2022)

Next Post

Top 3 Metaverse Crypto Coins With a Market Cap Below $12 Million

Related Posts

Featured

Netflix Casts Leads for FTX Drama

May 30, 2025
Featured

Trump’s Meme Coin Dinner Under Investigation

May 29, 2025
Altseason Is Here—But Only for a Few Minutes
News

Altseason Is Here—But Only for a Few Minutes

May 28, 2025
Bitcoin Shakes as Trump Talks Tariffs Again
Featured

Bitcoin Shakes as Trump Talks Tariffs Again

May 27, 2025
Bitcoin Price Prediction For The Holiday—Breakout or Breakdown Coming
Market Analysis

Bitcoin Price Prediction For The Holiday—Breakout or Breakdown Coming

May 26, 2025
Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?
News

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

May 25, 2025

Press Releases

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?
News

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

by Alex Mercer
May 25, 2025

Introduction It seems the U.S. labor market has hit a pothole—again. The Kansas City Fed’s Labor Market Conditions Index (LMCI)...

Read more
Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

May 23, 2025
Dogecoin’s Ready to Bark Again—Could $0.30 Be the Next Fetch?

Dogecoin Ready to Bark Again—Could $0.30 Be Next

May 20, 2025
Ethereum Climbs While PEPE Reloads—Who's About to Explode

Ethereum Climbs While PEPE Reloads—Who’s About to Explode?

May 18, 2025
Trump Meme Coins Spark Calls for Treasury Review

Trump Meme Coins Spark for Treasury Review

May 15, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier