Terra (LUNA) could be a big winner as stable coins rise to prominence in the crypto world. This crypto also has a pretty large-cap asset of $16.3 billion. It’s a little larger than Chainlink and the 12th largest crypto. LUNA’s blockchain protocol uses fiat-pegged stablecoins to power price-stable global payment systems.
The 1-day price chart for Terra price analysis shows that the coin traded in a range of $43 to $46 while swinging wildly towards extremes of $42.2 on the lower side and $47 towards the upside. Currently, the LUNA/USD pair is trading hands at $49.96 at the time of writing. LUNA also reports an increase in value by 9.6 percent over the last 24 hours and an increase in value by 5.41 percent over the past week.
Its current performance is quite impressive but let’s get to know the Terra (LUNA) background first.
What is Terra (LUNA)?
Terra is a crypto payment solution that has gained a lot of traction since its initiation in January 2018 by Daniel Shin and Do Kwon, the men behind Terraform Labs.
The platform was built to keep in mind the price volatility of blockchain-based assets and perceive them. Terra focuses on price stability and usability and uses smart contract-enabled cryptographic versions of fiat currencies, called stablecoins, in its platform.
Terra has already rolled out multiple fiats pegged stablecoins, including TerraUSD (UST), TerraCNY, TerraKRW, TerraEUR, and many more digital currencies. The platform offers easy and quick transactions across borders without any hassle and is used by retailers worldwide.
The native token of the network, LUNA, is an important element in the Terra Ecosystem and is responsible for the platform’s governance. The LUNA token is responsible for operating the collateralizing mechanisms which keep the stablecoins in check and avoid massive fluctuation.
LUNA uses the Proof-of-Stake consensus and has an elastic supply depending on the platform’s need for stablecoins in circulation. Terra has its wallet, called the Terra Station, that can give direct access to stablecoins. One can access the DApps built on the Terra blockchain by using the wallet. Furthermore, the Terra Station can operate on a phone as well as a computer without failure.
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
|LUNA||$ 73.10||$ 26.12 B||0.31%||357.16 M||$ 1.84 B|
Terra price history
The LUNA coin has performed incredibly well in the year 2021. While the all-time high LUNA price rests at 54.77 USD as of Nov 27, the token started the year at $0.6. The token is ranked 14 on the market with an average trading price of $43 after the recent market crash.
The LUNA price crossed $1 in January and later reached a peak of $6.4 in February. As the investors got the ‘buy Terra’ signal, the prices ran higher for the token. The token rallied to $21 by March-end and made a new all-time high.
However, this ATH was followed by a bearish movement, due to which the prices of the token dropped as low as 4.1 USD during May while other altcoins were nearing their peak.
As seen in the chart above, the token rallied to a new ATH towards the end of July. By September-mid, the token witnessed a new all-time high above $30. This bullish momentum continued as the token rose by 23% in September and 10% in October.
Terra technical analysis
Currently, the prices are above the 50-day and 100-day Moving Averages on the daily chart, moving towards the Bollinger Bands’ upper end.
The price fractal shows a general uptrend for the cryptocurrency, and higher prices will follow once bulls take charge.
Terra price prediction
In this section, we will discuss Terra price predictions and analyses done by major analysts. Most of these analysts consider Terra a good investment and expect LUNA price to increase shortly.
DigitalCoinPrice’s Terra price forecast
According to the price prediction by DigitalCoinPrice, the average price of the token will be 64.73 USD by the end of 2021. By 2022, the Terra prices will reach 78.34 USD, followed by 95.22 USD for 2023. On the other hand, for 2024, the price forecasts state $109.84, followed by 136.85 USD for 2025.
Following 2025, according to DigitalCoinPrice, Terra (LUNA) has a bright future ahead, and the price prognosis states a price of 155.33 USD for 2026, 168.23 USD for 2027, and 192.17 USD for 2028.
The Terra (LUNA) Coin price will prove a good investment for many coin holders as Terra’s price crosses $100.
Price Prediction Terra (LUNA) by DigitalCoinPrice
Terra (LUNA) price prediction by WalletInvestor
The Terra price prediction for 2021 states that the token will end in 2021 at an average price of 44.877 USD, followed by a maximum price of $49.801 and a minimum of $39.839.
On the other hand, the token will end in 2022 at an average price of 95.365 USD, followed by a maximum price of $104.277 and a minimum of $85.834.
On the other hand, the token will end in 2022 at an average price of 145.858 USD, followed by a maximum price of $167.406 and a minimum price of $126.469.
On the other hand, the token will end in 2022 at an average price of 196.271 USD, followed by a maximum price of $234.098 and a minimum price of $160.974.
For 2025, the token will end the year at an average price of 246.731 USD, followed by a maximum price of $302.410 and a minimum price of $192.130.
TradingBeasts Terra (LUNA) price prediction
The cryptocurrency Terra price analysis states that if the coin survives the bear market, LUNA’s price will rise as it takes a position in the top 10 biggest cryptocurrencies in the crypto market.
While virtual currencies will play an important part as the cryptocurrency market challenges mega giants. The LUNA price prediction 2021 by TradingBeasts says that the token will reach a minimum price of $30.247, followed by a maximum value of $44.480 and an average price of $35.584.
This is not a bullish prediction by the website. However, taking into account the bullish action of the token, the bears might present good investment opportunities.
The token will reach a minimum price of $36.430, followed by a maximum value of $53.573 and an average price of $42.859 for 2022.
The token will reach a minimum price of $44.013, followed by a maximum value of $64.726 and an average price of $51.780.
The token will reach a minimum price of $51.815, followed by a maximum value of $76.199 and an average price of $60.959.
How will LUNA add stability to the crypto market?
Think of Terra as big, decentralized financial infrastructure. It’s a protocol, but it also has a lot of utility with stablecoins. What it’s trying to do is to hold the stablecoins within its system steady. A stablecoin is a coin, by definition, in nature that doesn’t fluctuate very much in real-time. It uses its technology to match supply and demand and tries to keep its stablecoins stable algorithmically.
You could use this technology through its stablecoins and through its native token to achieve the same thing. It’s got e-commerce applications. Terra is really interesting in that regard, and it’s building out the plumbing for what could be a rather big stablecoin market. It’s just starting to grow right now, but it’s got a long way to run.
Terra is a good long-term investment as the utility of the token will necessarily reflect upon the prices. It is also a good short-term investment and is ready to break psychological resistance levels and enter the $100 league.
Terra LUNA supports stablecoins which include a US dollar stablecoin (UST), a euro stablecoin (EUT); a Canadian dollar stablecoin (CAT); and a Japanese yen stablecoin (JPY). You can see the emphasis here on that cross-border payment and trying to cut out the volatility.
On the whole, LUNA is a good investment and with a circulating supply of 394,670,383 LUNA. In the past few months, the token rose by a massive percentage. While the prices continue to be bullish for the token, we recently saw a massive surge in Terra adoption.
Is Luna a good investment?
LUNA is a good investment to hold in your cold storage. The prices continue to be bullish for the token, and once the bulls take control, we might see higher prices.
However, recently we saw the CEO of Terraform Labs, Do Kwon, being sued by the SEC over creating Mirror Protocol. Terraform Labs is the company behind the Terra (LUNA) token.
Will LUNA go up?
According to every major investor in the market, Terra prices will go up. Shortly, we might expect the token to breach the $100 price level and move towards the $500 level. The popularity of Terra’s stablecoins is also a reason for the bullish predictions for the token.