Posts

LUNA price prints new ATH as Terra's Columbus 5 approaches

avatar of @forexbrokr
25
@forexbrokr
·
·
0 views
·
3 min read


Ahead of its Columbus 5 mainnet upgrade of the Terra ecosystem, LUNA has printed a new all time high.

Goodbye $40 LUNA and hello new all time highs.

The more I look into Terra (LUNA), the more bullish I become on the token as well as its entire algorithmic stablecoin ecosystem.

Just take a look at the following daily chart from TradingView showing the latest price action.

When it comes to daily support and resistance levels, all that really seems to matter is the $22, March 2021 high.

You can see that it took until August to break out, before a beautiful retest in September when markets received that little spook.

An obvious gift for the smart money just waiting to soak up those juicy stop LUNA orders.

In my opinion however, this move is just the beginning.

LUNA price prints new ATH

Before taking a look at the LUNA price, let’s take a step to the side and look at another project that just exploded in price.

That’s right, Solana.

We just watched Solana break $100 and not even break a sweat, instantly putting another 50%+ on top of that during a Bitcoin pullback.

What do you think is going to happen to LUNA?

You know, a project that actually solves the biggest issue facing the entire industry right now.

On/off-ramping capital to and from traditional fiat markets.

Unlike Tether, Terra’s suite of algorithmic stablecoins are out of reach for the US regulator and LUNA is the glue that keeps them stable.

All it’s waiting for is a catalyst.

Columbus 5 mainnet upgrade and more

A catalyst just like the Columbus 5 mainnet upgrade of the Terra ecosystem.

This upgrade will do 3 main things:

  1. Simplify the stablecoin swapping process
  2. Burn a shitload of LUNA
  3. Enable LUNA stakers to benefit by receiving swap fees

But that’s not all that’s on the cards when it comes to what’s being dubbed Terra Autumn, theres more.

The most exciting being the prospect of “TeFI”.

Get it?

Like DeFi, but on Terra.

TeFi!

This will be Terra’s own decentralised finance ecosystem, facilitating yield farming, lending, synthetics, asset management and even token swapping.

Another exciting prospect on the cards revolves around Terra’s biggest algorithmic stablecoin, TerraUSD (UST).

Thanks to Orion Money’s 20% APY on offer for stablecoins, there’s no doubt that UST will quickly suck capital onto the platform.

With already $70 million in TVL, Orion and demand for UST is set to explode.

“Orion Money’s vision is to become a cross-chain stablecoin bank providing seamless and frictionless stablecoin saving, lending, and spending. Within the Orion Money stablecoin bank, we have three main products planned— Orion Saver, Orion Yield and Insurance, and Orion Pay.”

Tell me where you can find 20% APY on stablecoins, I’ll wait.

Let alone on algorithmically backed stablecoins that in today’s regulatory climate, you can actually have confidence holding, let alone staking.

All of this is only going to increase demand for LUNA, the token required to stabalise the price of UST.

With so much happening on Terra, can you see why I think its only just the beginning for LUNA?

Best of probabilities to you.


Direct from the desk of Dane Williams.

Why not leave a comment and share your thoughts on the LUNA price printing a new ATH within the comments section below? All comments that add something to the discussion will be upvoted.

This Terra (LUNA) blog is exclusive to leofinance.io.

Posted Using LeoFinance Beta