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How much does Luna cost?
Luna This is one of those cryptocurrencies that completely surprised the investment community in 2021. In terms of market capitalization, the cryptocurrency increased by almost 170 times. And its price at its peak - December 27, 2021 - was $103! Due to such a gigantic increase, it is difficult to talk about the price stability (price stability) of Luna, especially since the price of Terra fell by more than 25% from ATH.
The latest news indicates that the market capitalisation of Terra cryptocurrency is .
And what is the current price of Luna?
How much dollars for Luna? Terra (Luna USD) cryptocurrency exchange rate in a 24-hour period
The current price of Terra Luna is , which means that in the last 24 hours Luna has changed its price by .
How much PLN for Luna? Terra (Luna) course in 24h period
On the Polish Luna (LUNA PLN) markets, the current price is , which means that the price of Luna paired with PLN has changed by in the last 24 hours.
What is Terra (LUNA)?
Terra is a blockchain created in 2019 that issues its own stablecoins, or cryptocurrencies linked to fiat currencies - examples of stablecoins (linked to the US dollar) are USDC and USDT, and in Terra's case, UST and TerraKRW, the equivalent of Korea's WON.
The supply of stablecoins is strictly dependent on demand and is regulated by an automated algorithm that maintains an equal ratio of stablecoins to fiat money.
The idea behind the project was to implement online payments on sales platforms to solve the problem of slow money transfers in Asia.
The payment gateways there have a settlement period of 3 to 14 days! And Terra's blockchain? It takes just 6 seconds to process each transaction. The blockchain can process up to 10,000 transactions per second, but that's only a fraction of what Solana can do.
Terra is an attempt to improve online payments, but also to solve the problem of the volatile price of cryptocurrencies - precisely through stablecoins!
Terra is a blockchain that stands out with price stability and wide adoption of fiat currencies with the censorship-resistance (...).
These words pulled straight from the whitepaper, pretty much the constitution of any crypto project, are the perfect shorthand description of all Terra. Price stability, adoption of fiat currencies and resistance to censorship, with power comparable to Bitcoin.
How does Terra (LUNA) work?
Terra was built using the Cosmos SDK, a platform that is used to create blockchains. The use of Cosmos technology, has enabled Terra to use Proof Of Stake consensus, which saves the huge amount of electricity needed for Proof Of Work consensus.
Due to the use of the Cosmos platform, Terra had to adapt to certain limits, among others - a limit of 100 validators, which translates into a low level of decentralisation of the network.
Low decentralisation is compensated for by the blockchain's phenomenal payment capabilities. Transaction turnaround time averages 6 seconds and the blockchain has the capacity to process the aforementioned 10,000 TPS (Transactions Per Second).
Terra is not a competitor to BTC, and not even to XRP - it is a competitor to the companies that handle traditional payments - Visa, Mastercard and PayPal.
Who created Terra?
Behind the project are Daniel Shin and Do Kwon - Korean entrepreneurs and developers who founded Terraform Labs in January 2018.
Daniel had previous experience as an entrepreneur - he founded the Korean equivalent of Alibaba (TMON), a startup incubator and payment app Chai, which is the cornerstone of Terra.
His partner - Do Kwon - is also a serial entrepreneur. He was previously involved in telecommunications-related projects, including the startup Any-Fi, which earned him a spot on the Forbes 30U30 list.
What is Chai?
The aforementioned Chai, is a Korean financial app that takes full advantage of the Terra blockchain. As of 2018, the app allows users to complete instant transactions.
Now the app also offers other services - in addition to completing payments, users will find discount coupons on Chai and be notified of discounts.
Where do Luna holders keep their cryptocurrency?
Hardware wallets are the safest option for storing any cryptocurrency. The devices, which look like a flash drive, boast the highest level of security for funds.
The most popular hardware wallets are most often signed by Ledger and Trezor brands - you can easily store stablecoins and Luna on them!
Terra Station is a native wallet for storing cryptocurrencies built on the Terra blockchain. The wallet functions as a mobile and web app, and with it you can easily connect to DApps, or decentralised apps.
Math wallet is a multi-platform wallet, you can install the app both on your phone, on your computer and also in your browser - as a plugin. Math wallet supports more than 50 different blockchains, which translates to more than 3,000 different cryptocurrencies you can store on it - including cryptocurrencies based on the Terra blockchain, namely stablecoins and Luna!
Cryptocurrency exchanges are the least secure wallets, despite this, a significant number of users choose to store their cryptocurrencies on them.
The undoubted advantage of exchanges is the ability to exchange quickly, bypassing the transfer of funds from a secure external wallet. Remember - your key? Your funds!
Is the investment in Terra (LUNA) safe?
Every cryptocurrency is risky, due to fluctuations in the exchange rate, but the usual fluctuations in price, caused by speculators, are not the biggest question mark for Luna investors.
The biggest risk for investors is Terra's stablecoins, or more precisely their coverage. The situation is not improved by the fact that in November 2021, the US SEC launched an investigation against Terraform Labs and its CEO - Do Kwon.
Is it safe to invest in Luna? As the crypto society says - DYOR (Do your own research!), no one can guarantee your safety. However, when investing in Luna, it is worth considering the legal status and performance of the entire Terra structure.
How to buy Terra (LUNA)?
Luna is a popular cryptocurrency whose market capitalisation places it among the top cryptocurrencies. Currently, international exchanges and a few cryptocurrency exchanges allow the purchase of this cryptocurrency.
Use the Terra calculator (LUNA) and check how much your portfolio is worth!
Buy Terra (LUNA) on cryptocurrency exchanges
You can buy Luna cryptocurrency on Binance, Coinbase, KuCoin, Huobi and Bitfinex. The most popular pairs with Luna are: Luna/USDT, Luna/BUSD, Luna/UST and Luna/USD. Pairs with Bitcoin are less common and rather unused by investors.
The text is not investment advice and Bitclude (Egera) is not responsible for its misinterpretation and use as an investment aid.