The price of Terra (LUNA) hiked over the weekend after millions of LUNA tokens were burnt through an address shared by Do Kwon, the TerraForm Labs founder.
LUNA had started rising on Saturday after Do Kwon shared the ‘burning’ address and it continued rising to today morning before it retraced to trade at its current price of about $0.00018. It had shot above $0.00020 on Sunday before slightly pulling back and then shooting back above $0.00023 on Monday morning.
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
Although Do Kwon later said via a tweet that he was not for LUNA token burning, the recent price surge could be an indicator that investors are yearning for the token to start rising and it could just be a matter of time before is catapults.
To help investors and traders who want to take advantage of the current Terra (LUNA) dip by purchasing it at its current low price, Invezz has created a brief article to help with identifying the best places to buy it.
To find out more, please continue reading.
Best places to buy Terra (LUNA)
eToro
eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.
Binance
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
What is LUNA?
LUNA is the native cryptocurrency of the Terra blockchain.
The Terra blockchain uses fiat-pegged stablecoins to power a stable global payment system. In a nutshell, Terra leverages the stability of Fiat currencies and the decentralized nature of Bitcoin (BTC) to offer fast affordable settlements using stablecoins.
Besides its recently released native stablecoin, TerraUSD (UST), a number of other stablecoins pegged on the US Dollar, the South Korean Won, the Mongolian tugrik, and the International Monetary Fund’s Special Drawing Rights basket of currencies have been developed and deployed using Terra blockchain
Besides LUNA being used as a stabilizer of the various stablecoins developed via Terra, LUNA holders can also vote on Terra governance proposals.
Should I buy the LUNA coin today?
LUNA could be a good choice if you are looking for a cryptocurrency that has taken a massive dive over the past two weeks but has started signs of bouncing back.
Despite TerraForm Labs offering a ‘Recovery Plan’ for Terra, it is still not clear if the price of Terra will bounce back above $1 especially since there is a proposal by Do Kwon to ‘hard fork’ Terra and its native coin $LUNA.
LUNA price prediction
The majority believe that Terra (LUNA) has hit its bottom and will not dip further. Investors are waiting in bated breath for the price to start rising.
With its current price hike, most expect the count to jump above $0.005 by the end of this week even as Terra is expected to go ahead with the ‘hard fork’ process.
Terra social media coverage
eToro
10/10
68% of retail CFD accounts lose money
Source: https://invezz.com/news/2022/05/23/here-are-the-best-places-to-buy-terra-luna/