Decided you want in on the action? You can buy Terra (LUNA) on Crypto.com.
Terra is an interesting Ethereum based blockchain protocol that uses stablecoins pegged to several currencies to create a global payment system. Luna, Terra’s altcoin, helps to keep stablecoin prices balanced.
How high can Luna go? Well, Terra is working on several exciting projects that have drawn the interest of investors who recently saw an August 2021 return on investment of over 300%.
What is Terra?
Launched in 2019, Terra is an Ethereum-based blockchain protocol that combines the relative price stability of some of the world’s biggest fiat currencies with borderless financial infrastructure. Its goal is to replace complicated payment systems such as credit cards, banks and payment gateways with a single blockchain layer.
Terra wants to create a credibly neutral, distributed and transparent payment ecosystem. This allows it to provide lower fees, high scalability and stability. Recently, it committed $150 million to grow the Terra ecosystem in hopes of attracting developers to build decentralized finance (DeFi) apps on its blockchain.
Terra Market Position
Currently, Terra’s market cap is nearly $12 billion and priced at close to $40. As of writing, Terra ranks as the 11th largest cryptocurrency on CoinMarketCap. The fully diluted market cap is close to $30 billion, and these coins will be put into circulation over the coming years.
So why does this matter? It’s not just about the price per token. Market capitalization is the value of all the coins that have been mined to date. The market cap is calculated by multiplying the number of coins currently minted by the value of one single coin. Most experts agree that a market cap of over $10 billion is a fairly safe investment. At least as far as cryptocurrencies are concerned.
Kim Chua Bull Case for Terra
Kim Chua is an institutional trading specialist and lead analyst for PrimeXBT. In her opinion, “LUNA seems really undervalued at its current market cap of only $14 billion. This could easily be worth $20 billion.” Chua believes that Luna could be a top 10 crypto by the end of the year.
She should know. Chua follows both traditional and cryptocurrency markets, and at one point launched a hedge fund that consistently achieved triple-digit returns for 7 years. Clearly, she knows her stuff.
Ryan Watkins Bear Case for Terra
Ryan Watkins is the senior research analyst at crypto research firm Messari. His concern is that blockchain experts may not embrace Terra (LUNA) because it’s less decentralized than most other blockchain platforms. Terra’s blockchain runs on a limited number of nodes as opposed to Ethereum, which runs on thousands.
He also called Luna “one of the most underfollowed projects out there that not only touches on the two strongest narratives in crypto right now (stablecoins and DeFi), but also has significant real world adoption.” So, it’s really hard to say if he’s bearish or bullish on this asset.
Where to Buy LUNA
Luna is not available on all trading platforms, though that may change as the Terra platform continues to grow. Two places where you can buy Luna are Voyager and Crypto.com.
Voyager is publicly traded, licensed and regulated. It also allows you to earn up to 12% interest on stablecoins. Crypto.com allows you to buy and sell using bank transfers or your debit or credit card. It offers up to 14% interest on stablecoins.
How Long Will it Take for Terra to Reach $100?
So just how high can Luna go? It’s hard to say for certain and any predictions are purely speculative. However, Luna has been seeing gains over 100% per month for several months this year.
This growth has some investors hopeful that they will see $100 by the end of the year, while others err on the more conservative side and believe it will take another year, or even 5 years, before hitting the $100 mark.
Where to Store LUNA Safely
Any time you buy cryptocurrency, it’s important to store it safely. After all, you are your own bank. If you lose your crypto, you can’t just call 1-800-CRYPTO and ask them to find it for you.
Whether you choose a hardware wallet, a software wallet — or both — most experts agree that for long-term storage a hard wallet is best. Yet, a soft wallet is more convenient if you are going to be making transactions. Determine what your needs are and then choose the wallet that best fits those needs.
Best hardware wallet: Ledger
Terra recommends the Ledger Nano X or S. Both provide top-notch security and hold over 1,800 different cryptos. To use Terra on your Ledger device, you must first download the Terra Station wallet. Then just follow its user guide to get everything set up.
Best software wallet: ZenGo
All software wallets are convenient for a variety of reasons, but ZenGo takes convenience a step further. Instead of trying to remember passwords, seed phrases or private keys, you can use facial biometrics — which is great because how often do you forget where you put your face?
It’s the fastest way to track investments, trade your crypto or earn interest. The best part is, you can set it up in seconds for free.
In the coming weeks, Terra will upgrade to Columbus-5. This upgrade will allow more apps to be built on the platform while also creating higher financial incentives for those who stake their tokens. This can cause the price to climb, so consider getting in before the jump.
Current Crypto Prices
Crypto prices climb and dip at dizzying rates. The key is, don’t get stressed out over it. Buy the dips and ride the peaks. Here’s a list of some of the top cryptocurrencies and their real-time prices.
So, is LUNA a Good Investment?
Luna has some big plans, and while it hasn’t broken the top 10, most investors think it will soon. This could make Luna a good investment for you. It’s important to do thorough research on any potential investment. As always, never invest more than you can afford to lose, and keep an eye on the long term.
- Exclusive Crypto Airdrops
- Altcoin of the Week
- Insider Interviews
- News & Show Highlights
- Completely FREE