Terra (LUNA) shoots straight up vertically: the cryptocurrency posted 239% profit in the past 30 days, 58% in the last week and almost 30% within 24 hours. We introduce the coin and explain: What is Terra? What is LUNA? Why is Terra (LUNA) special? Who invented Terra (LUNA)? What do traders and analysts predict for Terra (LUNA)? And: What are the price forecasts for Terra (LUNA) from 2021 to 2028?

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What is Terra (LUNA)?

Terra (LUNA) is a blockchain protocol that uses fiat-bound stablecoins to operate price-stable global payment systems. It is supported by a basket of stablecoins stabilized by LUNA, its native token.

Part of Terras function is for payment transactions. In principle, Terra (LUNA) wants to replace the payment value chain (including credit card networks, banks, and payment gateways) with a single blockchain layer. To this end, Terra is working to build an ecosystem that offers competitive programmable payments, logistics and infrastructure. Thus, the cryptocurrency aims to drive the multitude of future industries that will be based on efficiency and scale.

Why is Terra (LUNA) special?

According to the developers, Terra combines the advantages of cryptocurrencies with the daily price stability of fiat currencies. Its one-to-one coupling is created with the help of an algorithm that automatically adjusts the stablecoin supply to demand. This is realized by incentivizing LUNA holders to trade LUNA and stablecoins at profitable exchange rates. Thus, the supply of stablecoins should be expanded or reduced according to demand.

Terra also works with some payment platforms. In July 2019, Terra announced a partnership with Chai. This is a South Korean mobile payments app. With Chai, purchases are made through Terra’s blockchain network. Each transaction is subject to an average fee of up to 3%. However, this is the responsibility of the dealer, not the buyer.

Who invented Terra (LUNA)?

Terra was founded in January 2018 by Daniel Shin and Do Kwon. Prior to Terra, Shin co-founded and led “Ticket Monster” (TMON), a major South Korean e-commerce platform, and co-founded “Fast Track Asia”, a startup incubator.

Kwon is CEO of Terraform Labs, the company behind Terra. Before that, Kwon founded Anyfi, a startup for decentralized network solutions and worked as a software engineer for Microsoft and Apple.

Terra also receives support from the Terra Alliance, a group of companies promoting Terra.

Terra (LUNA – – what traders and analysts say

The pseudonymous presenter of the Youtube channel “Coin Bureau”, which specializes in cryptocurrencies, believes that Terra can increase to up to $ 100 by the end of the year. However, under one condition, as he explains in an analysis:

“Call me crazy, but I could well imagine LUNA reaching the $ 100 mark by the end of the year if acceptance and innovation continues.”

Lark Davis: LUNA flies to the Moon

Popular crypto analyst Lark Davis also comments in a recent tweet: Terra is flying to the moon. He writes:

“Terra Network has gone from strength to strength in recent months, with a flurry of new users and applications making me believe that $luna is on its way to the moon!“

The industry observer also provides its more than 446,000 Twitter followers with reasons for this: 75% of all Luna Coins are currently already staked. In addition, 10.000 transactions per second are possible – and that with “mock-cheap” fees, according to Davis. According to data provider Defi Llama, Terra is currently ranked 4th by total value-just behind the top coins Ethereum, BSC and Polygon!

Davis calls another bullish aspect: the stablecoin integration of Terra (LUNA). UST is the fifth largest stablecoin and also an important part of the Terra ecosystem. However, you have to burn LUNA to mine new UST-and that, according to Davis, is like “rocket fuel” for the price increase. In addition, UST and wrapped LUNA have just been listed on Coinbase. This is bullish in that listings on Coinbase usually have a positive effect on the price of a coin in both the short and longer term.

Apps in the Terra Network

There are currently not many apps in the Terra network. However, Davis also thinks that’s positive-show it how far the coin has made it without apps. He writes:

“Now let’s talk about apps. The Terra Network has so far kept the total number of applications very low. Nevertheless, it has actually risen to a top 30 coin with only Anchor, Mirror and Chai.

Unbelievable!“

However, he adds:: Numerous other apps are already planned. Among others:

  • Loop AMM Dex (Uniswap)
  • Terra World-NFT Metaverse (Decentraland)
  • Ozone – insurance (Nexus)
  • Pylon Launchpad

In addition, as the analyst explains: Terra (LUNA) will soon receive updates with extensive improvements. For example, the”Columbus 5″ update improves:

  • Burning of all seignorage. The result: more LUNA is burned
  • More payments to Staker
  • Cosmos IBC Integrations

Terra’s “Wormhole” upgrade will also connect Terra to the top coins Ethereum, Solana, and Binance Smart Chain. Davis ‘ conclusion:

“If we accept this and more from Terra, I think the price will rise much higher.“

Terra (LUNA) Price Forecasts 2021 – 2028

Terra (LUNA) is currently trading at $ 21.78, almost 8% below the all-time high of $ 23.32 just set on August 16. What are the price forecasts for Terra (LUNA)?

Terra (LUNA) screws up continuously. Source: Coinmarketcap.com
  • CoinCodex.com is generally bullish on Terra: 26 technical analysis indicators signal bullish signals, against which there are only 4 bearish signals.
  • WalletInvestor.com even describes Terra (LUNA) as an” outstanding long-term investment”, especially with regard to the 1-year forecast: According to this, LUNA will rise to $ 33.71 within the next 12 months – and to $ 83.86 by the end of 2026! Consequently, a 5-year investment is expected to yield around 285%.
  • DigitalCoinPrice.com assumes a similar development for Terra (LUNA): by the end of 2021, Terra will rise to $ 31.94, by the end of 2022 it will be $ 38.65. In the course of 2023, Terra (LUNA) already breaks the 40-dollar mark, and the following year the 50-dollar mark. By the end of 2025, a Terra rate of $ 67.52 is expected, and in 2028, according to the long-term forecast, Terra could rise to $ 94.81!
  • The most bullish forecast comes from Gov. Capital: According to the 1-year forecast, Terra will initially rise to $ 43.26 within the next 12 months – and the 5-year forecast sees Terra (LUNA) then rise to $ 288.54! This corresponds to an increase of 1,224% based on current prices.

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Last updated on August 16, 2021

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