About Terra

What is the Terra price today?

The LUNA price is currently $0.86. The price of Terra is -31.22% over the last 30 days. You can use the live Terra chart to track the LUNA/USD price in real time above, or compare the Terra value today to its past performance using the Terra price history tab at the top of this page.

What is the total supply of LUNA?

The circulating supply is 275,704,792.35 LUNA, out of a total maximum supply of 0.00 LUNA.

What is the price prediction for Terra?

The average Terra price prediction values the coin at $10 by the end of 2023. Things like the economic climate, the crypto market as a whole, and the platform’s ability to make it’s new network function can all have an impact on the price.

It’s best to take predictions with a grain of salt but you can use expert estimates to help you understand the weight of opinion about a coin.

What is Terra?

Terra is a cryptocurrency that underwent drastic changes in 2022 after the network plummeted in value. The platform was rebranded to be now known as Terra 2.0.

The original Terra was a blockchain platform with a network of decentralised stablecoins at its core, with LUNA as its primary currency acting as a decentralised reserve. Its flagship offering, TerraUSD, was an algorithmic stablecoin pegged to the US dollar.

However, in May 2022, TerraUSD’s peg to the US dollar broke and Luna’s value plummeted by 99% within two days. In response, the Terra network underwent a hard fork and rebranded as Terra 2.0, with old Luna tokens renamed Luna Classic (LUNC).

How does Terra work?

Terra functions like many other cryptocurrency platforms by maintaining a decentralised blockchain that records all transactions. The buying or selling of Terra coins results in transactions being grouped into blocks. These blocks are then linked to the previous block to form a chain of transactions.

The Terra blockchain relies on a proof-of-stake consensus algorithm known as Tendermint, in which other users on the network stake their tokens to verify transactions.

How is the Terra network secured?

The Terra network is secured by the blockchain technology it operates on. It adopts a proof-of-stake consensus algorithm, where other users on the network, referred to as validators are responsible for verifying and securing all transactions. These validators are rewarded with tokens for their efforts in maintaining the security of the Terra network.

What is Terra used for?

Terra has various uses and enables developers to build decentralised applications (dApps) on its network. The Terra coin functions as a currency within the platform and can be used for staking and trading purposes. Due to its volatility, Terra is a popular choice for short-term traders seeking to take advantage of market fluctuations.

Why does LUNA have value?

LUNC is a fungible token that holds value through its various functions. As a governance token, LUNC holders have a voice in network decision-making, giving them a say in future developments. LUNC holders can also participate in staking tokens, which support the network and provide passive income for simply holding coins.

Who created Terra?

Terra was founded in January 2018 by Daniel Shin and Do Kwon. Do Kwon assumed the CEO role at Terraform Labs, the organisation behind Terra.

When Terra crashed in 2022, Do Kwon presented a revival plan that involved a hard fork, which received opposition from key industry figures and disgruntled UST investors. However, the community ultimately approved the project through a vote, and the hard fork of Terra Classic into Terra took place on May 27, 2022.

Where can I buy Terra?

You can buy Terra on a crypto exchange. An exchange is a marketplace that allows you to sign up, deposit your money, and buy some crypto, just as you would with a stock platform.

Most cryptocurrency brokers allow you to keep the coins you buy in your account. However, you may want to sign up for a dedicated crypto wallet for some extra security.

Are there any other ways to invest in Terra?

The simplest way to invest in Terra is to buy it outright. However, another option is to simply open a crypto account. Crypto accounts are like regular bank accounts and allow you to store a variety of currencies, send and receive payments, earn interest on savings, and spend freely with a credit card.

You can also invest in crypto more generally through a crypto ETF or a crypto fund. These are financial instruments that give you exposure to a group of leading cryptocurrencies, more suited to high net worth individuals.

Are there any Terra alternatives?

Several crypto projects offer something similar to Terra, with some being more established than others. Here’s a brief selection of a few Terra alternatives for you to consider.

• USD coin. USD coin is the second largest stablecoin and is pegged to the Dollar.
• Tether. Tether is the best-known stablecoin and is pegged to the USD.
• Binance USD. BUSD was launched by the team behind Binance and can be used on the platform to benefit from zero fees.

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