The whole crypto community is in shock as the Terra’s (LUNA) value has tanked in the last week. Selling pressure on Terra UST continues as the currency has lost more than 11% of its value and now trades for $0.07846. The coin has dropped more than 48% in just seven days. UST lost its peg after the Wormhole hack, resulting in a dramatic price drop for LUNA.
It lost 100% of its worth in just a few days- from $118 to decimal cents. This fluctuation has led major exchanges to delist the Luna token from their crypto exchange platforms.
Top-tier cryptocurrencies Bitcoin and Ether were also hit by selling pressure. The crypto market is still volatile, as concerns about the stability of stable currencies have been raised in the wake of the Terra sisters’ free collapse.
Your capital is at risk.
Relisting Luna in Exchanges
Delisting Luna was a sudden move by crypto exchanges, and not everyone was happy about it. Experts feel that if the managers focus on the project’s fundamentals and remain consistent, the price of Luna may rise, recouping some of the loss. Investors who purchase at a bargain may benefit from such possibilities.
Some think that it’s not the crypto exchange platform’s call to delist coins, as the traders should be the ones who are the decision-makers based on their theories and future strategies about buying cryptocurrencies. Because of this, decentralized exchanges like PancakeSwap and Uniswap have gained some popularity, with new ones like DeFi Swap also being preferred by many.
Should One Invest in LUNA?
The first UST drop was more severe than usual, and TerraUSD holders didn’t wait for it to stabilize before selling their UST for LUNA, resulting in an increase in LUNA supply, which was subsequently panic sold. The situation worsened, with UST losing 90% of its value and LUNA plummeting worse.
So, if the panic was triggered by any of the three elements that come under by FUD (fear, uncertainty, or doubt) – for example, emergence of a new pandemic, or Ukraine-Russia Standoff – the currency can rebound because nothing fundamentally changed in the coin’s inherent worth or the technology behind it.
Due to algorithmic stablecoins, the black swan occurrence with the Terra (LUNA) crash led to hyperinflation of the Terra (LUNA) supply, which swiftly reached a billion LUNA coins before spiraling out of control into the billions.
Luna Price Chart via Coinbase
It will be difficult to return even to one cent unless a significant portion of the circulating supply is burned to lower the number of LUNA coins to roughly 350 million.
We suggest you invest what you feel you can afford to lose in LUNA since it is highly volatile and will rise or fall in response to Do Kwon’s and the Terra team’s announcements.
Buying Bitcoin for the long run at current low prices may be a better low-risk investment. If you think Terra LUNA is the ideal digital token for your portfolio, we will show you where to buy Luna now from a crypto exchange in under five minutes.
Your capital is at risk.
Best Exchange to Buy Terra Luna Today
Most of the coverage on Terra Luna’s delisting implied that it had been completely withdrawn from exchanges. You may still buy and trade Luna on most exchange platforms that offered it when it first launched.
Conclusion
We have made this brief walkthrough with extensive research on where to buy Terra LUNA cryptocurrency today, market price, and what experts say about investing.
While LUNA may never recover to its prior market cap, it has all of the elements in place if the project recovery plan and the rest of the Terra crew are successful.
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Source: https://insidebitcoins.com/news/buy-luna-on-these-crypto-exchanges