What is Terra?
Terra (LUNA) is a price-stable cryptocurrency that is powered by fiat-pegged stable coins. Terra brings the global acceptance and stability of fiat currencies together with the benefits of decentralized Bitcoin (BTC).
First developed in January 2018 by Daniel Shin and Do Kwon, Terra was launched in April 2019. The idea behind Terra was to push for faster adoption of cryptocurrency and blockchain technology by making it highly useable and stable. Terraform Labs is the company behind Terra, with Kwon as its CEO. Both of Terra's founders have backgrounds in e-Commerce and software engineering for Microsoft and Apple.
Terra's stablecoins are pegged to the South Korean won, Mongolian tugrik, the United States dollar, and the International Monetary Fund's Special Drawing Rights basket of currencies. More options are on the way. LUNA, Terra's native token, stabilizes the price of the stablecoins.
Terra hopes to maintain its one-to-one peg by using an algorithm that will automatically adjust the supply of stablecoin based on demand. LUNA holders are encouraged to swap LUNA for stablecoins for profitable exchange rates in response to demand - to grow or shrink stablecoin supply.
Terra is in partnership with several payment platforms, specifically in the Asia-Pacific area. One of those partnerships is with Chai, a South Korea-based mobile payments application. When e-Commerce purchases are made using the company's payment platform, they are processed using the Terra blockchain network. Each transaction is charged a fee of 2 - 3% to the merchant.
Terra is supported by a group of businesses and platforms called the Terra Alliance. This group supports Terra's mainstream usage and has announced that e-Commerce platforms from 10 countries, representing over 45 million users, are a part of the Alliance.
Terra is currently being traded on these top exchanges: Huobi Global, Bithumb, Binance, Binance.KR, and Upbit.
What are Terra Frequenty Asked Questions?
Where does Terra (LUNA) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Terra currently ranks in position 9 out of the thousands of cryptocurrencies. It is also important to consider Terra‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Terra has a market cap of $ 23,537,073,886, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 678,795,232,640, Litecoin at $ 7,497,705,132, Ethereum at $ 297,908,515,973, Tether at $ 78,528,479,763, and XRP at $ 29,139,770,581.
What is the price of Terra (LUNA) today (updated in realtime)?
The current price of Terra is $ 57.77 in USD. (The price in Euros is 50,84 €; and the price in Bitcoin is Ƀ 0.00161355 BTC.)
What is Terra‘s (LUNA) market supply?
The total available supply of Terra is 405,451,413 LUNA. The total supply of Terra is 823,463,799 LUNA.
What is the 24 hour volume for Terra (LUNA)?
The 24 hour volume for Terra is $ 4,523,684,137.
How has Terra (LUNA) performed recently?
Terra‘s price has decreased in the last 24 hours by -26.76%. This compares with a seven day change of -29.23%. The trading volume over the last 24 hours was $ 4,523,684,137. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is Terra (LUNA) official website?
Links to Terra‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has Terra (LUNA) performed well historically?
Here is a chart showing how Terra has performed historically.
Where Can I Buy Terra (LUNA)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
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