Terra (Luna) becomes top performing crypto as more support arrives

Terra Luna has become one of the top performing assets within the last 12 months continuing to climb passed $US70 dollars greater than 50% of its price just a month ago. Even during the current bear and bull markets Terra's native token Luna has continued to grow in value providing a light on the hill for many in the cryptosphere.

One of the key drivers behind Terra's current boom is it's latest proposal to burn the community pool which has increased staking returns from a low 3%-4% to above 8% with an all time high on ROI above 10%. I'd anticipate some price fluctuations in the coming months as more and more users commence unstaking their luna to cash out. A large portion of owners purchased Luna at low levels and there are still a significant amount of whales but as long as the market is strong and people keep purchasing Luna the token price should hold steady.

According to Stake ID which tracks Luna activity there are a total of 317m Luna tokens staked accounting for 37% of the current total supply with around $US20 million of Luna tokens in the process of being unstaked over the next 21 day period. This information and more can be found here

Venture Capitalist move in to support Terra

Hong Kong based Venture Capitalist Chiron have turned their eye towards Terra's network and have raised $50million to invest in up and coming projects on Terra Network that focus on metaverse and non fungible tokens (NFTs) source.

As published in Coindesk Chiron's investment is only small compared to the $US150 million the network raised in June to power it's decentralised finance protocols with major investors such as Arrington XRP Capital source

Much of Terra's recent bull run is due to the Columbus 5 mainnet launch which saw Terra Utilise the Cosmos blockchain and Polkadot to develop a fully interoperable project and it's stable coin UST continues to appear on more and more block chains. With JP Morgan's mention of the network it has also drawn the attention of many retail and institutional investors seeking high ROI on getting in early.

NFTs are the money drivers

Image Source NFT's continue to drive major investments with Talis protocol managing to raise $US2.3 million and incase you missed the initial price offering a total of 5% of the total supply will be airdropped to Luna stakers on the Terra Network.

I previously provided an introductory post to the Talis Protocol which can be found here

If you would like to know more information about Talis you can read more here

Terra has been capturing the allure of many investors whom have been flocking over in droves and with Terra's integration with Ethereum throuch protocols such as Anchor which enables users to bond their Eth or Luna in return for lending and borrowing rewards the block chain has continued to grow in popularity.

Image sources provided supplemented by Canva Pro Subscription. This is not financial advice and readers are advised to undertake their own research or seek professional financial services.

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