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Terra price movement: Is there more room for growth for LUNA after it got to the 10th spot?

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on Dec 10, 2021
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  • Terra (LUNA) is now 10 in terms of being the largest cryptocurrency token when comes to market capitalization.
  • Chiron’s $50-million fundraiser intended to back Terra projects has boosted the LUNA token.
  • The token has the potential to reach $80 by the end of December.

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Terra LUNA/USD is an open-source blockchain payment platform for algorithmic stablecoins. 

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LUNA is the native cryptocurrency token of the Terra protocol and is used for staking, governance and collateral.

Chiron’s $50-million fundraiser intended as a catalyst for growth

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On December 2, we discussed how LUNA surpassed Shiba Inu after it got to its latest all-time high value at the time.

On December 8, Chron Partners, which is a Hong Kong-based venture capitalist firm, announced that they raised $50 million for a dedicated fund, titled the Chiron Terra Fund I.

This fund was created with the goal of building decentralized finance (DeFi) and metaverse-connected non-fungible token (NFT) projects on the Terra Blockchain.

Jake Cormack, who is the COO at Chiron Partners, credited Terra’s growth potential behind their decision to pick it as their official public ledger.

This is the result of the blockchain’s Columbus-5 upgrade, which promises to enable a higher level of scalability as well as greater cross-chain interoperability.

All of this has brought the LUNA token to the 10th spot in terms of market capitalization across all cryptocurrencies, and it has the potential to climb even higher.

Should you buy Terra (LUNA)?

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On December 10, Terra (LUNA) had a value of $69.32.

To see what this value point means for the token, we will go over its all-time high value as well as its recent performance in November.

When it comes to the all-time high value of the token, LUNA was worth $77.73 on December 5. Here, we can see that the token was $8.41 higher in value or by 12% at its all-time high-value point.

When we look at the performance of the LUNA token in November, its lowest value point was on November 24, when the token fell to a value of $37.99.

On November 30, the token got to a value of $58.81, which was its highest value point of the month. Here, we can see an increase in value by $20.82 or by 54%.

However, from November 30 to December 10, the token increased in value by $10.51 or by 17%.

With this in mind, Terra (LUNA) has the potential to reach $80 by the end of December, making it a solid buy.

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