Terra (LUNA)
| Market Cap | $12,303 |
|---|---|
| Trading Volume | $184,070 |
| Volume / Market Cap | 14.96 |
| Total Supply | 1,706,429 LUNA |
| Max Supply | – |
Terra is currently trading at $1.5786, after a price change of 1.09% in the last 24 hours.
Ranked as cryptocurrency #2672 by capitalization today, LUNA market cap is valued at $12,303. LUNA trading volume reached $184,070 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on LUNA coin price prediction page.
LUNA Coin Price PredictionWhat is Terra?
Terra is an open-source, decentralized blockchain network that was introduced in January 2018 by Do Kwon and Daniel Shin. The main purpose of this network is to create decentralized financial applications and stablecoins. The native token of this blockchain is known as LUNA, and members can use it to pay for trading fees.
Terra wishes to change the way banking is carried out globally through decentralized apps and stablecoins. Unlike other stablecoins, Terra is not pegged to a particular fiat currency. The stable value of the coins is maintained through a dual token mechanism creating arbitrage opportunities. When there is a demand, the asset is generated with the help of an algorithm and the gains thus received are used to incentivize members and finance projects in the network.
This blockchain is based on a proof-of-stake mechanism. The authentication process is known as Tendermint. The members broadcast votes to take part in the protocol. They can stake their LUNA coins or delegate others to do the same. In return, they get rewarded in the form of seigniorage rewards, stability fees, and computation fees.