LUNA is a token of the Terra ecosystem, the creation of which began in 2018. The project was launched by two co-founders, Daniel Shin and Do Kwon. Daniel Shin has worked for a long time in large South Korean companies related to e-commerce. Do Kwon has worked for Microsoft, Apple, and a number of other well-known organizations.
In this article, we'll analyze what this cryptocurrency is used for, the prospects of the LUNA coin's price and the project as a whole.
The goals of Terra (LUNA) coin
The creators of the Terra project and its token LUNA intended both to develop a successful startup and also encourage the adoption of the crypto industry around the world. Therefore, their main goal was to develop a tool that would be actively used in e-commerce.
To do this, they created a blockchain (you can read more about what a blockchain is in our other blog article following the link) that allows users to launch their own Stablecoins as needed.
Stablecoins are cryptocurrencies whose rates are tied to fiat currencies. For example, to the dollar, euro or ruble.
Shin and Kwon did a great job. Stablecoins powered by Terra blockchain have become very popular in Asian markets. They are used to pay for goods and services online, and even to pay in the real world. For example, there is a cab operating in Mongolia that accepts payment in one of the Terra blockchain-based stablecoins.
One of the main factors behind the popularity of Luna crypto is its low fees. By using stablecoins issued with it for money transfers or to pay for services, users keep saving money each time. Funds reach the recipient instantly, just as they do with traditional payment instruments that are inconvenient due to their high costs.
What LUNA token is used for
The main task of LUNA crypto is to maintain the price of stablecoins at a given level. After all, these coins, tied to fiat money, must always have the same value. Otherwise, it will be impossible to use them to pay for services.
That's why Terra's developers created a protocol that regulates the price of Stablecoins automatically. When the demand for them grows, the number of coins in circulation increases. If the demand falls, it decreases. This system has been functioning successfully for more than a year, which has proved its reliability.
Prospects for LUNA cryptocurrency
To determine whether this cryptocurrency is prospective, let's consider a list of its main advantages. LUNA token:
- has a genuine use;
- is becoming more popular every year - the number of users is already several millions;
- is used by a growing number of companies that begin to accept payments in stablecoins based on the Terra blockchain;
- accelerates the adoption of cryptocurrencies worldwide.
The growing popularity of the project is the main driver behind the rise in the price of the Luna coin. Experts expect the cryptocurrency to further spread actively. At first, mainly in Asian countries, and then all over the world. Therefore, in the long term, the coin is likely to be a great investment.
How the price of LUNA changes
Just a year ago, the price of the cryptocurrency Luna was less than $0.5 per coin. However, in December 2022, the value ranges from $60 to $75. Thus, the price of LUNA has increased about 130 times in one year. Users who bought $100 worth of this project's coins at the end of 2020 are now able to sell them for $13,000.
Experts predict its price will keep growing. After all, the more popular the project will become and the more companies will accept Terra-based stablecoins for payment, the higher the rate of the coin will be.
That's why getting LUNA is a good decision, which is unlikely to disappoint you with its results. However, as with investments in other cryptocurrencies, it is important to follow the main rule - buy digital assets only with money the loss of which will not have a significant impact on your quality of life since risks exist in all cases.
Where to buy LUNA coin
If you want to buy cryptocurrencies, it is important to choose a reliable platform that
- works honestly;
- has low commissions;
- is easy to use.
These requirements are met by Broex exchanger, with which, among other assets, you can buy LUNA cryptocurrency. Moreover, you no longer need to withdraw coins for storage on third-party wallets. Broex cares about the convenience of its users. Therefore, it provides a custodial wallet. The company is responsible for the safety of cryptocurrencies, which means that you won't have to worry about storage issues.
Broex works legally and has an official license issued by the Estonian regulator. So, there is nothing to worry about if you use this exchanger to buy or sell LUNA crypto and other assets.
With Broex you can exchange cryptocurrencies easily, quickly and conveniently, as well as store them. And if any difficulties or questions arise - you can contact technical support at any time. It works 24 hours a day, 7 days a week, so the problem will be solved in a matter of minutes.
- In addition, Broex has the following advantages:
- instant crediting of funds to the account;
- depositing with a bank card or through AdvCash;
- the minimum deposit is only 1500 rubles;
- low commissions - from 0.1%, and in some exchange cases there are no commissions at all;
- support of dozens of cryptocurrencies and thousands of digital tokens;
- a web version for work with a PC and a mobile app, so you can conduct transactions from anywhere with Internet access.
Moreover, the platform has an intuitive interface. It was developed in a way that even a novice user could master the exchanger and make transactions with popular cryptocurrencies.
Therefore, if you decide to buy crypto Luna, we recommend doing it with Broex - a reliable and convenient exchanger, the benefits of which make it a great tool worthy of your attention.