After the Terra 2.0 blockchain was launched by Terraform Labs, it peaked at almost $20, only to shed 73% of its value the next day. It’s currently trading at around $6 and has been relatively flat over the past 24 hours.
This brief guide has everything you need to know about the LUNA network and coin, including whether and where to buy LUNA if you choose.
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What is LUNA?
Terra (LUNA) is a public blockchain protocol derived from what’s now known as Terra Classic, the cryptocurrency associated with the algorithmic stablecoin TerraUSD (UST).
Renamed to LUNC, the original LUNA crashed in May 2022. It is now virtually worthless. The creators of Terra, Terraform Labs, created a new blockchain, and hence the new LUNA. The new Terra blockchain is not linked to the UST stablecoin.
It hopes to keep growing with the help of supports from the LUNA community and build on the world-class user interface and experience that propelled Terra Classic to the top 10 biggest coins by market cap and to second place in TVL at its peak.
Should I buy LUNA today?
LUNA can definitely be worth investing in if your timing is right. Unfortunately, this is often impossible to know in advance. Any investment decision should take your risk tolerance into account. Don’t take any price predictions at face value.
LUNA price prediction
Practically no price predictions are available considering how recently this token was launched.
Crowd Wisdom quotes one Peter Loter as tweeting that LUNA is in a triangular formation, which is a neutral indicator. In the event of a bull run, this tendency is likely to continue.
LUNA on social media
$LUNA 2.0 is live now!
— Guarda (@GuardaWallet) May 28, 2022