Terra is an interesting Ethereum-based Blockchain protocol that uses stablecoins pegged to various currencies to create a global payment system. Terra’s native token, LUNA, helps keep stablecoin prices stable. So, what levels can LUNA reach, which is the threshold of Solana’s rally? Terra has been working on several exciting projects that have recently attracted investors who saw a ROI of over 300% in August 2021. We take a look at the details of the anticipated Columbus 5 upgrade and the analysis of the experts…
What is Terra (LUNA)?
Launched in 2019, Terra is an Ethereum-based Blockchain protocol that combines the relative price stability of some of the world’s largest fiat currencies with unlimited financial infrastructure. Its aim is to replace complex payment systems such as credit cards, banks and a series of payment gateways with a single Blockchain layer.
Terra wants to create a reliably neutral, distributed and transparent payment ecosystem. This allows it to provide lower fees, high scalability and stability. Recently, it has committed $150 million to grow the Terra ecosystem in hopes of attracting developers to build decentralized finance (DeFi) applications on Blockchain.
Terra (LUNA) market position
Currently, Terra has a market cap of around $16 billion and a price close to $40. Terra currently ranks as the 11th largest cryptocurrency on CoinMarketCap. The fully diluted market cap is close to $30 billion, and these cryptocurrencies will enter circulation in the coming years.
So why is this important? It’s not just about the price per token. The market cap is the value of all cryptocurrencies mined to date. The market cap is calculated by multiplying the number of coins currently minted by the value of a single coin. Most experts agree that a market cap of over $10 billion is a pretty safe investment. At least when it comes to cryptocurrencies.
Kim Chua reveals year-end goals for LUNA
Kim Chua is an institutional trading specialist and principal analyst for PrimeXBT. According to Chua, “LUNA looks really undervalued with a current market cap of just $14 billion. This could easily be worth $20 billion. “Chua believes that Luna could be among the top 10 cryptos by the end of the year.
Meanwhile, Chua follows both the traditional and crypto markets and at one point started a hedge fund that has consistently delivered triple-digit returns for 7 years. We can say that he is someone who knows his job.
Ryan Watkins thinks Terra is lacking in adoption
Ryan Watkins is a senior research analyst at crypto research firm Messari. Watkins’ concern is that Blockchain experts are not adopting Terra (LUNA) because it is less decentralized than most other Blockchain platforms. Terra’s Blockchain runs on a limited number of nodes, unlike Ethereum, which runs on thousands.
He also described Luna as “one of the least followed projects that not only taps into the two strongest sectors in crypto at the moment (stablecoins and DeFi), but has also been significantly adopted in the real world.” Therefore, it is really difficult to tell whether the LUNA is bearish or bullish.
When will Terra be able to exceed $100, according to experts?
So how high can Luna go? It’s hard to say for sure and any estimates are purely speculative. However, LUNA has been earning over 100% per month for several months this year.
This growth is growth, with some investors hoping to see $100 by the end of the year, while others are more hesitant and believe it will take a year or even 5 years to reach $100.
LUNA snatches number 11, price predictions rise
Cryptocoin. com LUNA is one of the altcoins that the experts, whose analysis we share, think can make a big break. Terra is making one of the biggest moves in the crypto world today. In the past few hours, the LUNA price has increased its gains to 35% in the last 24 hours. This has made Terra one of the biggest winners of the week, and crypto investors are watching closely right now. LUNA’s saadollarsik chart before $39.53:
What developments await Terra?
As Brenden Rearick, fellow InvestorPlace contributor, recently commented, there are many developments around Terra. Terra prepares for a major Columbus 5 upgrade. Indeed, like other cryptocurrency platforms, Terra wants to be better, faster. These upgrades will allow for basic token swapping, which is the primary use of the ecosystem. Additionally, like other crypto platforms, this update will allow for token burning. This makes each LUNA more valuable. Such hard fork upgrades are currently being watched closely by crypto investors. Upgrades have the potential to provide real valuation improvement in the near term. And based on the movement at LUNA today, crypto is no exception. Let’s take a look at where some experts think LUNA could go from here…
Experts’ price predictions for Terra
At the time of writing, Terra (LUNA) is trading at $39.55. 3 different analysis platforms expect these levels from LUNA:
- Coinpedia lists a fairly wide range of rises and falls. On the bull side, this site suggests that LUNA could break $50 per token by the end of the year. However, if the bearish market materializes, this token could trade at $4.
- WalletInvestor lays out one-year and five-year price targets for the LUNA of $52.34 and $129.08, respectively.
- FxStreet thinks that traders should be wary of any move below the $18 level, as it could trigger a crash. Above this level, it looks bullish according to analisdollarser.