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Author: Reynaldo Marquez

LUNA Hits ATH After Astroport’s Deployment, Why Terra Could Continue Growing In 2022

Maybe one of the best-performing assets in 2021, LUNA has been trending against the market for the past 2 weeks. While Bitcoin, Ethereum, and other major cryptocurrencies remained rangebound, the native token for the Terra ecosystem re-entered uncharted territories. Related Reading | Terra Begins LUNA Burning, Why It Could Target $140 As of press time, LUNA trades at $87 coming in from a monthly low at $38 which represents almost a 40% increase over that period. As reported by NewsBTC, Terra deployed several improvements on its mainnet in the past months. These included Colombus-5, Wormhole v2, and an Inter-Blockchain Communication (IBC) protocol. The first of these upgrades could be the fuel that has triggered LUNA’s rally as it implemented a burning mechanism into the network. Effectively, this upgrade has turned LUNA into a deflationary asset that will continue to see buying pressure into the future. Per a report by Delphi Digital, the Terra ecosystem has also benefited from the deployment of Astroport, an Automated Market Maker (AMM). The protocol is yet in an early phase but has already seen over $1 billion in capital inflows. This capital injection into Terra’s ecosystem coincides with LUNA’s rally which goes to show the importance of adoption for this token’s performance. Delphi Digital said: LUNA price notched another ATH today before retracing lower. The price increase over the last few days was likely triggered by investors buying spot LUNA to lock up in the Astroport lockdrop, then hedging their position via perpetual futures to remain delta neutral. As the chart also shows, LUNA has the right ingredients to continue its rally: reaching price discovery on negative funding rates for the derivatives sector, which suggests speculators expected more downside in a short time. It remains to be seen if the trend will be able to hold in 2022. Terra (LUNA) And Its Potential To Take Over 2022 LUNA’s ecosystem has displayed strength in other sectors. The network’s native stablecoin UST has been gaining more adoption and could potentially disrupt this sector of the crypto market. Delphi Digital records an increase in market capitalization for UST since December 15th. This stablecoin has been in a close fight with DAI, one of Ethereum’s most prominent assets, as seen below. Delphi Digital added: UST and DAI have been neck-and-neck in terms of market capitalization, with UST briefly overtaking DAI as the 4th largest stablecoin last week. Yesterday, UST overtook DAI more decisively as it had been trading higher for at least the last 24 hours. Related Reading | LUNA Outperforms Bitcoin’s Rally, Why It’s Ready For Massive Gains Christmas is still some days away, but December has already proven itself as one of LUNA and Terra’s most important months in 2021. With solid fundamentals, this network seems poised to continue its upwards trend in the near future.

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LUNA Outperforms Bitcoin’s Rally, Why It’s Ready For Massive Gains

Author: Reynaldo Marquez

United Kingdom

Source: NewsBTC

Oct 21, 2021 12:10

LUNA Outperforms Bitcoin’s Rally, Why It’s Ready For Massive Gains

Bulls are in control as Bitcoin and the crypto market break every all-time high, coming into the top 10 is Terra’s native cryptocurrency LUNA with a 12.9% rally in the daily chart. Trading north of $40, at press time, this cryptocurrency has outperformed BTC and major altcoins in lower timeframes. However, LUNA could be just firing up its engines and getting ready for a fresh leg-up in the short term. The Terra ecosystem has been implementing major improvements to its ecosystem in the past months. Related Reading | Why The Terra Ecosystem Delayed A Major Mainnet Upgrade For Late September Therefore, LUNA could have multiple bullish reasons to continue to outperform the market. As researcher Ryan Watkins recently indicated, Terra is closed to implementing all 3 massive upgrades on its infrastructure. The Colombus-5 and Wormhole V2 upgrades have gone live, and the Inter-Blockchain Communication (IBC) protocol upgrade is set to roll out today, October 20th. As NewsBTC reported in August, Columbus-5 was delayed providing every actor on the Terra ecosystem with more time to prepare for the upgrade. Designed to introduce a deflationary mechanism for LUNA, this upgrade will increase Terra’s interoperable capabilities while creating more demand for its underlying asset. In the meantime, the Wormhole upgrade will operate as the communication component between Terra, Ethereum, Solana, Binance Smart Chain, and potentially more blockchains in the future. Related Reading | Why Terra (LUNA) Will Reward Users With New Community Bounty Program In addition, the upgrade introduced a user interface that will remove friction between the network value transfer capacity. Finally, the IBC protocol will allow Terra to benefit from “permissionless trans of tokens across chains”. The team behind Wormhole celebrated the achievement: Terra is known for its vibrant ecosystem, #LUNAtic community, and its decentralized stablecoin, $UST. Terra has grown at a dramatic rate in recent months, and we’re excited to unleash Terra innovation on the SOL, ETH, and BSC communities! LUNA Ready For Take-Off? Bull Market In Its Early Days Historically, tokens with interoperable capacities have performed well. Binance Smart Chain token BNB, integrated with its own burn mechanism, went from a low below $30 in 2020 to an all-time high above $600 on the back of its CeDeFi utility. Related Reading | Can LUNA Reach $170? This VC Fund Thinks It Has The Fundamentals Terra has another secrete weapon in its stablecoin UST. Talking about recent developments, Watkins claimed that the Terra ecosystem has built the potential for a new cross-chain trade boom. In September, the researcher made the following prediction: With Colombus-5 and Wormhole V2 going live in the coming weeks, UST growth will likely accelerate, setting it up to challenge DAI for the top spot among decentralized stablecoins. As seen in the chart below, Terra’s native UST has taken the decentralized stablecoin market by storm. Since February 2021, its dominance over this sector has skyrocketed and seems poised to continue the trend with an upgraded ecosystem. As Watkins pointed out, there are two main trends that will allow UST and Terra to grow: new capital coming into the ecosystem due to the upgrades, UST moving onto new platforms. In totality these catalysts could all drive a ton of new demand for UST in the coming months, which has already been the fastest growing decentralized stablecoin in 2021. pic.twitter.com/LxcTF6LHKJ — Ryan Watkins (@RyanWatkins_) September 15, 2021

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Why The Terra Ecosystem Delayed A Major Mainnet Upgrade For Late September

Author: Reynaldo Marquez

United Kingdom

Source: NewsBTC

Sep 02, 2021 12:09

Why The Terra Ecosystem Delayed A Major Mainnet Upgrade For Late September

After a 130% rally over the past month, Terra (LUNA) is one of the best-performing assets in the crypto market. At the time of writing, LUNA trades at $31.95, a little over a year ago it was barely breaking out above $1. The massive price appreciation is driven by a growth in the LUNA ecosystem and an increase in demand for its stablecoin UST. In order to support this growth, Terraform Labs (TFL) has been planning to introduce an update. Called Columbus 5, its mainnet deployment has been delayed for 3 weeks, according to an official post. The update will take place at the height of block 4,724,000, on September 30, 03:30 UTC. The team behind Terra claimed that they want to “implement some extra precautionary measures” to roll out the update. They added: (…) the Columbus-5 mainnet upgrade is massive. Behind the scenes, numerous moving parts require attentive and thorough examination from multiple perspectives + reviews between TFL, eco partners, the community, and projects dependent on Terra applications. In addition, they provided 3 main reasons that led them to delay the update. First, the network will have a new version of Mantle, their framework to write indexes or Extract-Transform-Loan (ETL) logic. This new version of Mantle will be more scalable and will be able to support “significantly” more traffic. It will be introduced with Colombus 5. Terraform Labs claimed: Mantle plays a critical role in mediating application network traffic on Terra, ensuring the compatibility of the new version between Col-4 and Col-5 is paramount, requiring additional testing to verify the new design changes. The second reason for the delay is due to Terra’s partners and third-party projects. The team behind the ecosystem wants these projects to have more time and “breathing room” to migrate to Columbus 5. This includes projects like Mirror, Anchor, TerraSwap, Shuttle. Before the update, the developers behind these applications must be familiar with the updated mainnet. Terra Will Update To Support Massive Growth As Terraform Labs said, the LUNA ecosystem’s total value locked (TVL) stands at $7.3 billion with “tens of thousands” of new stakeholders, and builders coming into the platform. Thus, why they have decided to grant their community and developers more time to prepare: The original timeline produced a hurried window for some projects to properly prep for Col-5. Giving projects more time to acquaint themselves with the Col-5 testing environment and migration plans for major apps ensures a smoother runway for projects launching post-Col-5. In that sense, the team made a commitment to provide more documentation and educational material for the community to “use the update properly”. In this documentation, they will address some of the community and third-party project’s concerns on Col-5. The official migration guides for Mirror and Anchor will be released on September 13th, meaning web apps, contracts, and bots will be functional and operational on Bombay for users by this time. TerraSwap has already been migrated. In the coming weeks, Terraform Labs will give more information on the “sequence of events” leading to the mainnet. Thus, they will make it a priority to “guarantee” a “smooth” Col-5 launch. 14/ With swelling billions of TVL, tens of thousands of new users, and an amazing and devoted community, prudence is the optimal path forward for such a significant launch. Thanks for your patience and understanding. More updates to follow soon. Please stay tuned. — Terra (UST) ?? Powered by LUNA ?? (@terra_money) September 1, 2021

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Layer 1 Crypto Token Surge Brings 200% Gains During August

Author: Reynaldo Marquez

United Kingdom

Source: NewsBTC

Sep 01, 2021 12:09

Layer 1 Crypto Token Surge Brings 200% Gains During August

Arcane Research recently published a crypto market update and explored the rise of layer 1 tokens over the past 30 days. The season of “ETH Killers” as the research firm and many others have called them. Although the second cryptocurrency by market cap was leading the crypto market up until a few weeks ago, its competitors have been gaining traction, smashing all resistance towards new all-time highs. As seen in the chart below, some layer 1 tokens in the crypto market have experienced massive rallies in August. Solana (SOL) leads the chart with a 221% rally, followed by Terra (LUNA) with a 217% rally, Fantom (FTM), and Avalanche (AVAX), sit at the last spots of the biggest layer 1 tokens with a 215% and 210% rally, respectively. Binance Coin (BNB, 38%), Ethereum (ETH, 28%), and Polygon (MATIC, 22%), also made the cut with important profits in the same period. Crypto exchange Binance’s token slowed down on its late 2020 rally. Similar to SOL, LUNA, and AVAX, BNB surged on the back of the DeFi boom as users migrated to the Binance Smart Chain ecosystem due to its high fees. Solana seems to have taken part in its market share. Arcane Research noted the increase in this token’s market from $9.5 billion to $35 billion in one month. SOL climbed its way to the 8th position in the crypto top 10 by market cap. The report attributes SOL’s appreciation to its high throughput of 50,000 transactions per second with low fees when compared to Ethereum. This has made Solana attractive for developers. As NewsBTC reported, some experts believe SOL will be one of the best performing crypto assets of 2021. Despite its 221% rally in August, there seems to be room for more appreciation based on the token’s growing fundamentals. Ethereum, King Of Crypto In The DeFi Sector The DeFi and the increase in adoption of the non-fungible tokens (NFTs) sector could determine which crypto will dominate the market in the coming months. In that sense, the total value locked (TVL), a controversial metric due to its “sketchy” accuracy, in Solana recently surpassed the $2 billion mark. However, Arcane Research claims that no layer 1 network will be able to outperform Ethereum in terms of DeFi market share. Data from DeFi Pulse record a TVL of $89 billion for all DeFi protocols. The Ethereum network has supremacy in this sector, the most popular dApps are hosted on its ecosystem. Aave, MakerDAO, Curve Finance, Compound, Uniswap, Yearn Finance, SushiSwap. These protocols have a total value locked (TVL) ranging from $4.2 to $15.86 billion. The smallest DeFi protocol in the Ethereum top 10 by TVL has double that held on Solana, Arcane Research claimed: ETH has experience growing transaction fees amid the NFT frenzy, possibly attracting more users to other chains. However, in the ecosystem overall, Ethereum remains the clear leader, and it seems unlikely that any other protocol will dethrone Ethereum’s position in the near future. At the time of writing, ETH trades at $3,398. The second crypto by market cap has a 5.2% profit in the daily chart.

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