Terra Luna Live Price, Charts, News – How to Buy Terra Luna
Terra Luna Classic (LUNC)
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Terra Luna Classic live price is $0.00008500. Find the Latest News, All Charts, Price Predictions & Learn How to Buy Terra Luna Classic coin. Its price is 0.86% up in last 24 hours.
Since July of last year, the Terra LUNA coin's price has risen to a new all-time high. People are baffled as to how the coin works because of its complexity.
LUNA Coin was created by who?
Luna (LUNA) is Terra's native token and was designed by Terraform Labs, a Korean company. The private sale of LUNA Coin earned $32 million for this project. Binance, Huobi, and OKEx were among the centralized exchanges that made investments.
Daniel Shin, a Wharton School of Business alumnus and founder of HOF, a fintech portfolio business, led the founding team.
LUNA was established in 2019 and has since become one of the most popular decentralized financial currencies. In terms of market capitalization, CoinMarketCap has rated it eighth.
What is Terra LUNA's function?
Securing decentralized freedom with fiat currency is the goal of the Terra blockchain, which seeks to generate stablecoins. One of the most important components of this system, the LUNA coin is known as a staking or protocol token..
As a result, the blockchain has established a dual token structure between terraUSD (UST) and Luna. When Luna is burned, it creates a new currency called USTs, which can then be exchanged for Luna.
If the UST price rises over $1, the corresponding amount of LUNA would be burnt, increasing the supply of UST and decreasing its value. Whereas when the UST price falls below $1, they are exchanged for LUNA, increasing the UST's value in the process.
In the same way as the Moon and the Earth depend on each other for their stability, so does this connection. In order to maintain this dynamic, the burning of LUNA coins is necessary since it motivates users by providing LUNA with its value and UST with its stability.
LUNA coins can only be printed up to a total of one billion times before they are destroyed.