The Terra (LUNA) coin is a blockchain platform which leverages the native dollar-pegged UST in order to construct a worldwide payment system. Additionally, it makes use of the set of algorithmic decentralized coins so as to power a thriving ecosystem which makes the DeFi very much accessible to all. Terra was created in January 2018 with the sole purpose of adopting for the mass cryptocurrencies by making digital common assets that have stable prices in comparison with most of the world’s big fiat currencies.
The vision of this project is in that with adopting and also the user engagement of a massive payment network, it will be able to, for what can be considered the first time, bootstrap blockchain payment networks to the scale it merits and also facilitate very more powerful products and use cases via its infrastructure.
This coin was founded in January of 2018 by Daniel Shin and Do Kwon with the latter later on taking the position of CEO of the Terraform Labs which is the company behind the Terra. Do Kwon co-founded Ticket Monster, Fast Track Asia, Anyfi and also worked as a software engineer for Microsoft and also Apple. This heavy and conspicuous portfolio gives us just an insight on the kind of man at the helm of this coin.
Exchanges
Below are some of the exchanges where we can deal with Terra Luna token.
Binance, Kucoin, Okex, Huobi, amongst others. A screenshot to show other examples are listed as such:
Terra offers an attractive incentive to the outside world due to its stablecoins. And as a result of this, according to data provided by DeFi Llama, Terra recently became the second biggest DeFi protocol only behind of course Ethereum. It should be taken into consideration that although it is not an old coin, and amidst competition as well, the Terra with Luna as token name is still the biggest. With its mostly uptrend attitude today, this token looks to break heights which will be positive in this recent downtrend or consolidating markets.
Below I will like to list 04 interesting Terra Luna projects that are building on Terra and that have mighty potential to reach for the sky.
- Anchor Protocol which is a decentralized lending fixed-income platform with its native token $ANC. It offers services such as earning, borrowing, bonding, and staking.
- Mirror Protocol: a DeFi protocol that promises the ability of trading equities every time and anywhere in the world by any person in the process of minting synthetic assets.
- Nexus Protocol offers a less challenging and a less time-consuming application by changing and maximizing yields the above 02 cannot.
- Loop Finance a decentralized exchange that the world can benefit in ways such as trading a large range of tokens, mint and trade NFTs with fixed yields.
A combination of the Median and the MACD indicator will be used in this write-up with two different timeframes. Below is a 5min chart;
A 1hr screenshot of this trade;
As seen above, the indicator used here was the Median indicator in correlation with the MACD indicator. As learnt from the lessons delivered from the academy, the bullish move is taken when the purple band is coincident with the new green band. This is also confirmed by the bullish crossover as seen by the MACD indicator.
This led me into taking the buying order on my verified Binance account;
With proper management, I decided to fix my stop loss at $91.88 and hit profit at $93.56.
This joint analysis enabled me to end with my take profit level hit.
With just some of the projects as I have iterated above, I plan on keeping this coin until it surges further up. As of today it has a price of $94.35 and an ATH of $101. I think that it is but only reasonable to sell this coin after it must have passed this ATH as the market continues its bullish market.
It should be taken into consideration that it is only because of its intense and beautiful projects that it is possible for it to feature amongst the top 10 coins as this is a very difficult achievement in this market.
Terra (LUNA) can be seen to have risen almost 130% since hitting lows of $0.12 in the year 2020 In this light, it is very difficult for one to deny that it is indeed one of the best-performing cryptocurrencies in the last two years. This is not any financial information but my personal perspective into this token based on my own research.
From the above, I see the Terra Luna to be one of the most used stablecoins in the future as it already is in the top 10 just 04 years into its creation. This is proof that if a couple more of years are added to it, it might even be in the top 05 and why not top 03. Financial information is not disclosed here but the views of an individual trader.
CC: @pelon53