Buy Terra(LUNA)

Reason To Buy Terra(LUNA)

• It works on the Proof-of-Work consensus Algorithm.
• LUNA provides governance rights to the users and is also a vital part of staking.
• LUNA is the native cryptocurrency of the Terra ecosystem.
• It has a market capitalization of more than $13 billion.
• It has a maximum supply of around 996 million LUNA coins.

Terra was launched in 2018 and is able to raise $150 million from high-end investors, while LUNA dropped on the exchanges in 2019.

Terra is a stablecoin that helps in eliminating the volatility around cryptocurrencies, just like Ethereum and Bitcoin. Unlike popular stablecoins such as USDT that are backed up by the cash reserves, UST maintains stability by burning LUNA tokens and a percentage of another digital token.

Things to consider before Buying Terra(LUNA)

• It helps in providing stability to the Terra stable coin by burning.
• LUNA could possibly see a price influx as the tokens are burned from time to time.
• Users that hold Luna earn transaction fees when people use the Terra stable coin.

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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.