Will Terra Emerge as the Silent Winner of the Crypto Market?

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Terra

Terra might silently creep among the top cryptocurrencies in the market to become the king 

The cryp­to mar­ket rose by leaps and bounds in 2021, which left investors with high expec­ta­tions. Bit­coin became the cen­ter of atten­tion for investors last year, as it drove the cryp­to mar­ket to new highs cross­ing US$3 tril­lion with­in a very short peri­od time of time. Sev­er­al oth­er alt­coins sur­faced show­cas­ing bull­ish price ral­lies one after the oth­er. But this suc­cess was short-lived. The cryp­to mar­ket fell into a deep slum­ber by the end of 2021, and the mar­ket kept fur­ther div­ing down. But the cryp­to that rose almost 15,000% last year is slow­ly creep­ing up its way through the top cryp­tocur­ren­cies. Ter­ra can be noti­fied as one of the fastest-grow­ing cryp­tos in the mar­ket. With­in a very short peri­od of time, Terra’s LUNA made it place among the top 10 cryp­tocur­ren­cies, pass­ing over oth­er pop­u­lar cryp­tos like Shi­ba Inu, Doge­coin, Lite­coin, and oth­ers. But the sud­den cryp­to slum­ber affect­ed the mar­ket dras­ti­cal­ly, tak­ing down Ter­ra with it. But its excep­tion­al mar­ket per­for­mance makes experts antic­i­pate if it has the capa­bil­i­ty to become the next cryp­to king silent­ly or not.

Accord­ing to coin­mar­ket­cap, the cur­rent mar­ket val­ue of Ter­ra (LUNA) is US$64.97, indi­cat­ing a rise of almost 25.13% in the last 24 hours, and almost con­sis­tent­ly hold­ing its posi­tion as the 9th largest cryp­tocur­ren­cy in the mar­ket. To define Ter­ra from a tech­ni­cal point of view, it is a blockchain pro­to­col that uses fiat-pegged sta­ble­coins to pow­er price-sta­ble glob­al pay­ments sys­tems. Ter­ra aims to com­bine the price sta­bil­i­ty and wide adop­tion of fiat cur­ren­cies with the cen­sor­ship-resis­tance of Bit­coin and offers fast and afford­able settlements. 

Amid the cryp­to scarci­ty in prof­its, the LUNA token held its posi­tion quite firm­ly. Experts believe that one of the many rea­sons why Ter­ra has been able to stay afloat and hold its own range was due to the for­ma­tion of the Luna Foun­da­tion Guard (LFG), along with the launch of Robo­Hero, a meta­verse game for smart­phones based on the LUNA token. Binance too has com­plet­ed LUNA’s inte­gra­tion into the exchange and acti­vat­ed deposits for the alt­coin. Cur­rent­ly, LUNA is show­ing no signs to slow down yet, as its wind has sailed on a pos­i­tive note. Cryp­to ana­lysts believe that soon the mar­ket will wit­ness a rise in LUNA token price, surg­ing as high as US$100. 

 

Why is Terra surging right now?

The rise in LUNA’s price can be well-attrib­uted to a few fac­tors. First­ly, Ter­ra is a seri­ous com­peti­tor against Ethereum. It has offered incen­tives to attract investors to its DeFi ecosys­tem and increased demand for UST. But Ter­ra will wit­ness con­tin­ued growth, even after the incen­tives have dried up. ETH might have the largest DeFi pro­to­col, but the Ter­ra ecosys­tem already has 13 DeFi pro­to­cols built on it, with­in such a short peri­od of time. Anoth­er major fac­tor due to which Ter­ra might be going up is its burn mech­a­nism. The point of burn­ing LUNA tokens from the com­mu­ni­ty pool was to cre­ate scarci­ty of the asset and boost its price. 

 

Should you invest in Terra right now?

So far, Ter­ra has made great strides in the cryp­to mar­ket. The mar­ket volatil­i­ty might be an issue for some investors, but it is the prime char­ac­ter­is­tic of any dig­i­tal cur­ren­cy. Ter­ra def­i­nite­ly has the poten­tial to out­per­form cer­tain major cryp­tocur­ren­cies. With the grow­ing pop­u­lar­i­ty of the meta­verse, cur­rent­ly, Ter­ra has a huge scope to grow fur­ther. Mar­ket ana­lysts are pret­ty impressed by the con­di­tion of the sta­ble­coin mar­ket recent­ly, so, even this phe­nom­e­non might help Ter­ra silent­ly win the top cryp­tocur­ren­cy competition. 

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