FXTM information and reviews
FXTM
93%
OctaFX information and reviews
OctaFX
91%
FXCC information and reviews
FXCC
90%
Libertex information and reviews
Libertex
89%
FxPro information and reviews
FxPro
88%
HotForex information and reviews
HotForex
87%

Terra Price, LUNA/USD Exchange Rates


Current Rating 9
Symbol LUNA
Logo
Price change, 1h 0.59%
Price change, 24h -2.45%
Price change, 7d -16.51%
LUNA current price $64.09
LUNA Market cap $25 765 224 279
Available supply 401 989 620 LUNA
Volume, 24h $3 308 700 299
Share

Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.

Development on Terra began in January 2018, and its mainnet officially launched in April 2019. As of September 2020, it offers stablecoins pegged to the U.S. dollar, South Korean won, Mongolian tugrik and the International Monetary Fund's Special Drawing Rights basket of currencies — and it intends to roll out additional options.

Terra's native token, LUNA, is used to stabilize the price of the protocol's stablecoins. LUNA holders are also able to submit and vote on governance proposals.

Who Are the Founders of Terra?

Terra was founded in January 2018 by Daniel Shin and Do Kwon. The two conceived of the project as a way to drive the rapid adoption of blockchain technology and cryptocurrency through a focus on price stability and usability. Kwon took on the position of CEO of Terraform Labs, the company behind Terra.

Prior to developing Terra, Shin co-founded and headed Ticket Monster, otherwise known as TMON — a major South Korean e-commerce platform. He later co-founded Fast Track Asia, a startup incubator working with entrepreneurs to build fully functional companies.

Kwon previously founded and served as CEO of Anyfi, a startup providing decentralized wireless mesh networking solutions. He has also worked as a software engineer for Microsoft and Apple.

What Makes Terra Unique?

Terra seeks to set itself apart through its use of fiat-pegged stablecoins, stating that it combines the borderless benefits of cryptocurrencies with the day-to-day price stability of fiat currencies. It keeps its one-to-one peg through an algorithm that automatically adjusts stablecoin supply based on its demand. It does so by incentivizing LUNA holders to swap LUNA and stablecoins at profitable exchange rates, as needed, to either expand or contract the stablecoin supply to match demand.

Terra has established a number of partnerships with payments platforms, particularly in the Asia-Pacific region. In July 2019, Terra announced a partnership with Chai, a South Korea-based mobile payments application, in which purchases made using the application on e-commerce platforms are processed via the Terra blockchain network. Each transaction is subject to (on average) a 2%–3% fee charged to the merchant.

In addition, Terra is supported by the Terra Alliance, a group of businesses and platforms advocating for the adoption of Terra. In February 2019, the company announced that e-commerce platforms from 10 different countries, representing a user base of 45 million and a gross merchandise value of $25 billion, were members of the alliance.

How Many Terra (LUNA) Coins Are There in Circulation?

Terra has a supply of 1 billion tokens. If this number is exceeded, LUNA is burned until it returns to the equilibrium supply level. New LUNA tokens are minted through the protocol's algorithm, as needed, in order to maintain the price of Terra stablecoins.

LUNA was first made available for purchase in a private token sale for initial investors, which included the investment arms of major exchanges such as Binance, OKEx and Huobi. The sale concluded in August 2018, and as a result, Terra raised $32 million. Of the 385,245,974 LUNA minted for the sale, 10% was reserved for Terraform Labs, 20% for employees and project contributors, 20% for the Terra Alliance, 20% for price stability reserves, 26% for project backers and 4% for genesis liquidity.

How Is the Terra Network Secured?

The Terra blockchain is secured using a proof-of-stake consensus algorithm based on Tendermint, in which LUNA token holders stake their tokens as collateral to validate transactions, receiving rewards in proportion to the amount of LUNA staked. Tokenholders may also delegate others to validate transactions on their behalf, sharing in any revenue generated. Terra also offers additional guidance to validator nodes on the best practices for helping to keep the network secure.

In May 2019, shortly after Terra's mainnet went live, blockchain verification and penetration testing firm CertiK completed a security audit of the network. It examined its economic model to test against market manipulation, its architecture and its coding language. CertiK found that the "modeling and mathematical reasoning" of the Terra network were "considered sound," although it would not comment on the blockchain's performance.

Where Can You Buy Terra (LUNA)?

Terra's native token, LUNA, is listed on several cryptocurrency exchanges - including Huobi, Bitfinex and Upbit - where it is available to be traded against fiat currencies, stablecoins and other cryptocurrencies.

Are you interested in buying LUNA or other cryptocurrencies such as Bitcoin? CoinMarketCap has a simple, step-by-step guide to teach you all about crypto and how to buy your first coins.

LUNA/USD Price and Exchange Rates Charts

LUNA/USD Price, Exchange Rates chart – 7 days

LUNA/USD Price, Exchange Rates chart – 30 days

LUNA/USD Price, Exchange Rates chart – 60 days

* Forex Rating accepts no liability for any errors in the Terra Price or LUNA Information. For the most recent information please visit the Terra official site.

Top Cryptocurrencies

# Cryptocurrency 7 days
1 BTC Information Bitcoin -12%
2 ETH Information Ethereum -22.38%
3 USDT Information Tether 0%
4 BNB Information BNB -19.34%
5 USDC Information USD Coin -0.04%
6 ADA Information Cardano -29.06%
7 HEX Information HEX -8.33%
8 SOL Information Solana -31.82%
9 XRP Information XRP -18.8%
10 LUNA Information Terra -16.51%
11 DOGE Information Dogecoin -14.25%
12 DOT Information Polkadot -24.41%
13 AVAX Information Avalanche -21.96%
14 BUSD Information Binance USD -0.06%
15 SHIB Information Shiba Inu -24.99%
16 UST Information TerraUSD 0%
17 MATIC Information Polygon -30.27%
18 ATOM Information Cosmos -3.33%
19 WBTC Information Wrapped Bitcoin -12.01%
20 DAI Information Dai 0.12%
Cryptocurrency Rating

Top Bitcoin Brokers

All Bitcoin Forex Brokers

BTC/USD Forecasts

Cryptocurrency market: a respite from the fall
Cryptocurrency market: a respite from the fall

The cryptocurrency market is adding 0.2% in the last 24 hours to $1.63 trillion, experiencing some pause or rebound after a prolonged drawdown. Buyer interest...

25 Jan 2022

Cryptocurrencies are far from support
Cryptocurrencies are far from support

The cryptocurrency fear and greed index was down to 11 on Sunday and slightly up to 13 by early Monday. Crypto market capitalisation lost another 1.1% overnight to $1.61 trillion...

24 Jan 2022

Crypto investors rushing to exit
Crypto investors rushing to exit

The crypto market capitalisation fell to 1.83 trillion, losing 7.3% in the past 24 hours. As we had feared, the selloff was triggered by sharply negative sentiment in US equity markets...

21 Jan 2022

Bitcoin's move beyond $40-45K will determine further trend
Bitcoin's move beyond $40-45K will determine further trend

The Crypto Fear and Greed Index remains at 24 for the third day, matching the extreme fear assessment. However, such a low index reading this time does little...

20 Jan 2022

Bitcoin as crypto safe haven now
Bitcoin as crypto safe haven now

Crypto market capitalisation slipped another 1.4% to $1.97trn. Attempts to rebound with a return above the round level faced further pressure in the morning...

19 Jan 2022

Where is Bitcoin's bottom?
Where is Bitcoin's bottom?

The cryptocurrency market lost 2% of its capitalisation in the past day to $2.0trn. Buyers stepped up in the market between 8-11 January, soon after a dip to this round level....

18 Jan 2022

XM information and reviews
XM
86%
FXCM information and reviews
FXCM
85%
AvaTrade information and reviews
AvaTrade
84%
LegacyFX information and reviews
LegacyFX
83%
FP Markets information and reviews
FP Markets
82%
Pepperstone information and reviews
Pepperstone
82%

© 2006-2022 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.