Terra’s token LUNA was priced at $100 per 1 LUNA in April, but dropped to almost zero last week. TeraUSD (UST), Tera’s algorithmic stablecoin, lost its peg to the US dollar.
This happened against the backdrop of a significant crypto market decline, which sent the price of bitcoin down by more than 20%.
Now that Terra has lost 99% of its value, is there any hope of recovery? Its founders are trying to get it back up and running, which you’ll read about below.
If you are fascinated by the unique features and want to learn how and where to buy Terra, this guide is for you.
Top Places to Buy Terra Now
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What is Terra?
Terra Luna is a crypto project created by TerraForm Labs, a tech company based in Singapore. It was intended to generate crypto adoption by creating a set of algorithmic decentralized stable coins required to conduct DeFi transactions.
Terra Resuscitation Action Plan
Terra founder Do Kwon has a plan to revitalize the coin. The first part of the plan involves a large burn to bring the stablecoin TeraUSD (UST-USD) back to $1.
They plan to burn over 371 million UST on the Ethereum mainnet and any UST left in the Terra Community Pool.
The second part is about staking 240 million LUNA tokens to prevent whales from seizing control and stabilize network governance.
In addition, the developers halted the Terra blockchain and suspended all pending transactions. This was to prevent people from buying LUNA for its extremely low price.
Should I buy Terra today?
Considering how hard it is to come up with an accurate cryptocurrency prediction, you should never make a decision affecting your finances before a thorough market analysis. Don’t invest more than you can afford to lose.
terra price prediction
Many investors have become pessimistic about Terra’s prospects. According to the Motley Fool, it is best to stay away from the project despite the low price of the coin.
Digital coin prices and coin price forecasts see little hope for LUNA, which predicts a year-end price of below 1 percent. 6 st.
However, other experts beg to differ. Investing Cube believes a recovery for LUNA is possible. If the stablecoin returns to $1 again, LUNA will start gaining ground.
Wallet Investor did not adjust its bullish predictions for LUNA prior to the crash. They predict that 1 LUNA will trade for $151 in May 2023. Lastly, Gov Capital estimates that LUNA will cost $108 per year from now on.
terra on social media
$1,000,000 investment $luna Last week would be worth $3 today. pic.twitter.com/PYaOwuPgJ5
— Watchman.Guru (@WatcherGuru) 15 May 2022