Terra (LUNA) Price Prediction 2025-2030: How gettable really is $50 by 2030?
Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto’s own research on the subject.
Launched to support the Terra stablecoin (UST), the Luna token (LUNA) was launched by Terraform Labs in 2019. The Labs was launched by a team of blockchain entrepreneurs in 2018 that gave rise to the Terra blockchain, a platform to host dApps.
Built on the proof-of-stake (PoS) consensus mechanism, LUNA is a prominent part of the crypto ecosystem. The recent Ethereum Merge has also impacted the industry a lot.
The history of the Terra blockchain and its native currency LUNA is rather tumultuous, however. In 2018, a pair of creative entrepreneurs, Do Kwon and Daniel Shin, founded Terraform Labs in the South Korean capital of Seoul. It was in 2019 that the pair launched the Terra blockchain and the associated cryptocurrencies – UST and LUNA – the latter being the support coin of the former.
Over 17 funding rounds, Terraform Labs raised a total of $58 million, its leading investors being Galaxy Digital, Pantera Capital and Hashed.
Stablecoins such as UST were launched to safeguard the investors against the high price volatility of mainstream cryptocurrencies such as Bitcoin- a stablecoin has a steady price.
As fiat currency is pegged to reserves such as gold, a stablecoin is pegged to either a fiat currency (e.g. USD) or a supporting cryptocurrency. In this case, TerraUSD was pegged to Luna. But herein lies the conflict. A cryptocurrency isn’t an equivalent to gold reserves. As Luna prices got destabilized, it had an impact on UST prices too, and the entire stablecoin system collapsed in the second quarter of 2022.
The stablecoin project was aimed at
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