Luna token price is soaring, but is the network's growth sustainable?
The last few months have seen Terra and its associated cryptocurrency LUNA surge in popularity. Is there more to this exponential growth than meets the eye? Terra, an open-source blockchain platform for algorithmic stablecoins, has been on fire over the last half-year or so. The value of its native crypto asset Terra (LUNA) has risen from $24 to over $100 during the last six months, placing it in the top 10 cryptocurrencies by market capitalization. And, even though LUNA has showcased minor corrections here and there, the currency and the Terra project, in general, have continued to grow....
Related News
It’s been two days since the Terra development team launched the new Phoenix-1 blockchain with the network’s native token LUNA. While the token dropped significantly in value during the first day of trading, the new LUNA has jumped 8.8% in value during the last 24 hours. Amid the token’s 24-hour rise, controversy continues to plague Do Kwon and Terraform Labs. Moreover, the old token, luna classic (LUNC), has been climbing in value as the crypto asset has gained more than 70% during the last day.
New LUNA Coin Jumps Over 8% Higher on Monday, Token Is Still Down....
On Saturday, May 28, 2022, LUNA classic and UST classic holders received an airdrop consisting of new LUNA 2.0 tokens based on two blockchain snapshots. The crypto asset’s first recorded value at 5 a.m. (ET), was $14.31 per unit and it hit an all-time high (ATH) roughly 20 minutes later at $18.87 per LUNA. LUNA has dropped more than 70% as it traded for $4.20 per unit at 11:00 a.m. on Saturday. LUNA 2.0 Launches The new LUNA token is now trading as the crypto asset was airdropped to LUNA classic (LUNC) and UST classic (USTC) holders. Presently, there’s a maximum supply of....
While digital currencies jumped in value during the early morning trading sessions on Friday (ET), the new Terra token, LUNA 2.0, jumped more than 200% in value against the U.S. dollar. LUNA jumped from a low of $1.90 per unit to a high of $6.87, but the token’s value has slipped to the $5.41 per unit range following the high.
Terra’s Phoenix Blockchain Token LUNA Rallies by 200%
Bitcoin managed to jump 9.4% higher today, rallying above the $21K zone while ethereum increased 4.9%, surpassing the $1,700 per unit range. Amid these jumps, Terra’s LUNA,....
Love crypto but worried about your carbon footprint? Here are the seven most sustainable crypto tokens of this year and how they make a difference. The Most Sustainable Crypto Tokens for 2022 IMPT (IMPT) — The Most Sustainable Crypto Token of 2022 Earthling (ETLG) — Green Token that Simplifies Climate Action Chia (XCH) — […]
In less than a month after the deployment of the new blockchain, LUNA 2.0, the token’s price has declined by over 77%. Early this year, the Terra blockchain was hailed to be the future of cryptocurrencies, as it seemed to promise several developmental advances. Then the protocol encountered a great shocker when its UST stablecoin and LUNA crypto token crashed drastically. The Terra Blockchain Launched in 2018 by the Terraform Labs and founded by Co-founders Do Kwon and Daniel Shin, Terra was a cryptocurrency protocol used to provide access to stablecoins. Recently, Kwon set his....