LUNA was one of the most positive cryptocurrencies of 2021 despite most of the crypto tokens falling in the last quarter of 2021. LUNA takes advantage of current crypto technology and combines the same with the acceptance of fiat currencies.
Yes, stablecoins were the core foundation of LUNA that uses this token to convert into fiat pegged stablecoins that are widely accepted as payment methods over cryptocurrency tokens. LUNA currently carries a market capitalization of USD 33 billion with close to 750 million tokens in total supply.
With price action breaching records of other cryptocurrencies, LUNA has been a profitable token to hold apart from its ascending valuations. Terra incentivizes holders who swap their LUNA tokens and stablecoins with a profitable exchange rate, and this incentivized aspect has created a sudden demand for LUNA tokens.
Terra uses a Proof of Stake consensus algorithm backed on Tendermint and offers additional guidance to validator nodes. Increasing price action with a positive bias has allowed Terra (LUNA) to enhance its valuation significantly, and LUNA’s price has also increased by a huge percentage. Check out LUNA coin price prediction to know the important price rise and fall for the coin in the near future.
At the current stage, LUNA has gained some value in 2022. The LUNA price revived from $50 to $100 in Feb 2022. The price analysis has mostly taken support from the 200 Days Moving Average and currently trades above 50 DMA and 200 DMA both. $98 has become a peak value at current levels, and a possible breakout is very much on the table.
Although the volumetric transaction has dipped from its peak at the beginning of March 2022, the RSI indicator shows a consolidative stance. This stance could be the foundation for further price rally towards fresh highs. LUNA potentially carries the DNA to outshine other market leaders.
