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The post Terra (LUNA) is Undervalued and Still Has Room to Rise! Here’s Why appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

After a weekend with declines, over the previous 24 hours, the cryptocurrency market has seen bullish momentum resurface during the early Asian trading hours. However, it could not sustain for long and the market began to plunge again with Bitcoin Price trading at $41660. Following this major altcoins too dropped.

LUNA Price Analysis

At the time of writing, LUNA price is trading at $69.80 with a 4.57% loss. In the last 24 hours, with moderate volatility, the altcoin traded within the range of $68.57 – $72.99. However, the support lies at $67.5. Treaders can expect the price to drop to $67.5 and consolidate from this level.

LUNA/BTC

LUNA/ BTC Has been Bullish lately with a Little bit of Correction of Course. The Trend Line (White line) Is Still Reliable Since The Price has Done a Pullback From There. There is also a Hidden Bullish Divergence (+HD) On MACD & RSI which Suggests a Good Bullish which would Start Soon! The Resistance For LUNABTC is Shown For you. If The Price Manages To break this Resistance, We Can Be Sure of a Great Bullish Movements afterward, But For now The Price is Expected To Reach The Resistance.

Terra (LUNA) Has Room To Rise

A crypto analyst and DeFi educator, by the name @Route2FI, believes that the Terra blockchain’s LUNA coin is undervalued and discusses its most fascinating protocols. The analyst believes the LUNA price has room to rise but admits that his opinion may be skewed owing to his personal enthusiasm for the Terra ecosystem.

He displayed Terra’s family’s most intriguing protocols. The first is Anchor Protocol, which allows users to stake UST, Terra’s dollar-pegged stablecoin with a whopping 19.5 percent annual percentage yield. 

Aside from staking for passive revenue, bETH and bLUNA can be borrowed with Ether and LUNA as collateral for a fantastic rate. This protocol’s toolset will soon include opportunities to collateralize SOL and ATOM. 

By press time, the LUNA/bLUNA conversion rate was 100:105, which means that when a farmer interacts with the protocol, he or she would receive five “free” LUNA tokens.

Earlier Terra surpassed Binance Smart Chain (BSC) as the second-largest decentralized finance blockchain behind Ethereum, reaching an all-time high in terms of total value locked (TVL). Terra’s TVL has dropped to roughly $19.3 billion at the time of writing, according to data from Defi Llama, after reaching the $20 billion TVL mark on December 24.

2 thoughts on “Terra (LUNA) is Undervalued and Still Has Room to Rise! Here’s Why

  1. After his speech, equity prices dropped. Crypto followed.

    Over the weekend, fake news broke that the Mt. Gox creditor returned all 140,000 Bitcoin to the victims. Worried traders continued selling Bitcoin over the weekend.

    By Monday morning, Bitcoin price had fallen 10% from before The Fed announcement.

    Next up: The FOMC meeting happens on September 20th and 21st when they will announce the next interest rate hike.

    BTC -8.98%

    Bitcoin maximalist Saylor getting sued for tax fraud in Washington DC. Bitcoin mining difficulty rises 9% – highest since January.

    According to market players, the recent spike in Bitcoin hash rate and mining difficulty is likely due to more miners powering up their machines as the heatwave, which has plagued North America and Europe, declines.

    This week, 5,000 BTC moved from a dormant wallet. The BTC have yet to move onto an exchange, so it’s unclear if they will be sold. The past four times a large amount of BTC transferred from a dormant wallet this year it signaled a local top in price.

    ETH -9.06%

    After the weekend crypto selloff, ETH price pumped after this pic of Vitalik Buterin hit the internet.

    MATIC +0.34%

    Big news for Polygon this week – OpenSea users are now able to use MATIC to pay for their NFT purchases. This addition should decrease gas fees on NFT purchases and remove the need for users to pay a account setup fee. This addition could result in a US$120 million for OpenSea users on transaction and setup fees.

    SOL – 14.74%

    Helium (HNT) is considering migrating to the Solana (SOL) blockchain. The move would help improve operational efficiency like helping with data flow and accounting.

    If you aren't familiar with Helium, it is a blockchain for IoT devices. Created to allow low-powered wireless devices to communicate with each other where users get HNT rewards for being Helium Nodes – Think “New Internet” from Silicon Valley.

  2. The subprime mortgage crisis began well before 2008, but the Dow Jones peaked in October 2007 above 14,000. By early 2008, though, the Dow was down to 12,000, and the rest of the year was characterized by a general decline until the crash of October.

    Are we repeating 08 all over again?

    be interesting to see if the 24th of October will be a bloodbath just like 14 years ago actually it would be pretty crazy if a crash like 08 happened on the same date .

    That being said if we do experience another crash similar to 2008 how do you guys think crypto would do ? would we see 10k BTC again and if so are you preparing some side funds for if a crash like this does happen , personally I'm putting aside what I can when I can as I believe we haven't seen the bottom of any markets yet .

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