In the past few months, the value of the cryptocurrency Terra (Luna) saw a massive upswing. It looks like investors are hyped for the upcoming release of Anchor Protocol— a savings platform that offers low-volatile yields on top of the digital currency. Some of the Anchor tokens will be dropped to LUNA stakers, which is why the price of this digital gold is rising up.
On Thursday, LUNA’s value was up by 3.2 per cent to $18.34. And its market is at $7,233,458,994 billion.
A report on Investingcube said that “Terra has grown to become one of the most valuable digital coin projects in the world. While this growth is due to demand, we cannot rule out the fear of missing out by traders.”
Experts believe that even though the value of the digital currency is currently bullish, but it may soon undergo another pullback as traders start making profits.
The report added that its price is a little above the upper side of the ascending trendline. “The uptrend is also being supported by the 25-day and 15-day moving averages. It is also substantially above the lower side of the ascending channel,” it said.
Luna has a circulating supply of 390 million LUNA coins and a maximum supply of 959 million.