Terra (Luna) becomes top performing crypto as more support arrives
Terra Luna has become one of the top performing assets within the last 12 months continuing to climb passed $US70 dollars greater than 50% of its price just a month ago. Even during the current bear and bull markets Terra's native token Luna has continued to grow in value providing a light on the hill for many in the cryptosphere.
One of the key drivers behind Terra's current boom is it's latest proposal to burn the community pool which has increased staking returns from a low 3%-4% to above 8% with an all time high on ROI above 10%. I'd anticipate some price fluctuations in the coming months as more and more users commence unstaking their luna to cash out. A large portion of owners purchased Luna at low levels and there are still a significant amount of whales but as long as the market is strong and people keep purchasing Luna the token price should hold steady.
According to Stake ID which tracks Luna activity there are a total of 317m Luna tokens staked accounting for 37% of the current total supply with around $US20 million of Luna tokens in the process of being unstaked over the next 21 day period. This information and more can be found here
Venture Capitalist move in to support Terra
Hong Kong based Venture Capitalist Chiron have turned their eye towards Terra's network and have raised $50million to invest in up and coming projects on Terra Network that focus on metaverse and non fungible tokens (NFTs) source.
As published in Coindesk Chiron's investment is only small compared to the $US150 million the network raised in June to power it's decentralised finance protocols with major investors such as Arrington XRP Capital source
Much of Terra's recent bull run is due to the Columbus 5 mainnet launch which saw Terra Utilise the Cosmos blockchain and Polkadot to develop a fully interoperable project and it's stable coin UST continues to appear on more and more block chains. With JP Morgan's mention of the network it has also drawn the attention of many retail and institutional investors seeking high ROI on getting in early.
NFTs are the money drivers
Image Source
NFT's continue to drive major investments with Talis protocol managing to raise $US2.3 million and incase you missed the initial price offering a total of 5% of the total supply will be airdropped to Luna stakers on the Terra Network.
I previously provided an introductory post to the Talis Protocol which can be found here
If you would like to know more information about Talis you can read more here
Terra has been capturing the allure of many investors whom have been flocking over in droves and with Terra's integration with Ethereum throuch protocols such as Anchor which enables users to bond their Eth or Luna in return for lending and borrowing rewards the block chain has continued to grow in popularity.
Image sources provided supplemented by Canva Pro Subscription. This is not financial advice and readers are advised to undertake their own research or seek professional financial services.
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As someone who keeps up with Australian political landscape surrounding crypto, I'm interested in your take on the latest stablecoin chatter.
The RBA and pollies continue to drop the stablecoin buzzword, but have never once mentioned the concept of algorithmic stablecoin's like LUNA's UST.
It seems to me that if they're aiming to regulate or take advantage of the space, you'd at least want to understand/discuss the ways that tech can circumvent what you're doing.
Is this just a matter of putting their head in the sand, or are we so early that our economic leaders genuinely aren't aware of what's going on?
Either way, it's a little concerning.
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To be honest, it is early days and Australia is only just catching upto other nations with a feasibility study. If I was to take a punt I think they will come to the same conclusion as everyone else.
It is upto the pollies and the broader community if they wish to seek a CBDC stable coin or leave it to the private sector.
Terra is killing it and it will be doing so also in the bear market. Optimized stablecoins rule!
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They do, I do think though it will have some turbulent time a head with alot of early investors unstaking to sell. Some $10,000 investments have turned into over $1m.
There will be some bigger dips I think.
I'm beginning to invest in this Terra token. The token is doing well. I'm investing it with Ftt token.
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Yeah Terra world is expanding. I am glad that I invested in it and bought the dip!
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yep, am also messing with Terra now - ~20% on $UST, and bonding LUNA to earn 35%+ and then borrow against it? Not a bad play!
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It is a really good offer. Except when you bond Luna you don't get air drops from staking to a validator. But 20% APY is awesome.
Terra is certainly and interesting project that I’m happy to be part of. Talís also looks like a fun art community. Great 😌 post!
Oh yes Talis looks wonderful
Staking in any tokens is very important when the token has the potencies of rising. People stake their tokens on profitable ventures and seeing the progression of the staking returns helps one to concentrate to stake more in order to earn more. For Terra Luna move up to US$70 within 12 months there's a possibility of making it to US$100 before the end of the first quarter of 2022. This is interesting and thanks for sharing.