Terra (LUNA) Turning Out a Strong Contender to Major Coins
https://ift.tt/gwTPGVQ
- LUNA has returned almost 14,700 percent in 2021.
- The market valuation of the LUNA network has grown to over $20 billion.
Like Ethereum, Cardano and Solana, Terra is a cryptocurrency that differs from Bitcoin yet shares many of its features. Unlike other digital currencies, Bitcoin is a digital payment mechanism and an investment opportunity. As opposed to this, cryptocurrencies like Ethereum, Cardano, and Solana are called “smart contracts.” Multiple applications can be created on top of these blockchain networks, much as one may have different apps installed on their mobile phone.
What sets Terra apart from other smart contract-enabled cryptocurrencies is its focus on a totally distinct area of application. Terra’s business model may be described as a combination of a bank (like FNB) and an electronic payments network (like Visa).
$1 Billion Funds Raised
LUNA, the Terra network’s cryptocurrency, has returned almost 14,700 percent in 2021, which may come as a surprise to some investors. Over the last year, an R1,000 investment in LUNA would have resulted in a profit of R147,692. Investing in Bitcoin over the same time would have returned just a fraction of this amount. The latter would have provided you with +R1,594 as an investment today.
The market valuation of the LUNA network has grown to over $20 billion due to this great return. Nearly as much as MTN and more than five times as much as Woolworths. Recently, To keep the TerraUSD stablecoin stable, the Luna Foundation Guard has completed a $1 billion private sale. According to CoinMarketCap, the Terra price today is $56.61 USD with a 24-hour trading volume of $2,255,490,109 USD. Terra is up 15.12% in the last 24 hours.
Cryptocurrency
