BITCOIN

LUNA has surpassed the Bitcoin assembly, ready for massive profits


The Bulls are in control as the Bitcoin and Crypto markets break at an all-time high, with Terra Native Cryptocurrency LUNA coming in the top 10 with 12.9% rally on the daily chart. Trading north of $ 40, at press time, this cryptocurrency has surpassed BTC and major altcoins in a short period of time.

LUNA at a rally on the daily chart. Source: LUNAUSDT Tradingview

However, LUNA can fire its engines and be ready for new leg-ups in the short term. The Terra ecosystem is implementing major improvements to its ecosystem last month.

Related Reading | Why Terra Ecosystem Delays a Major Mainnet Upgrade in Late September

Therefore, there may be multiple bullish reasons for LUNA to outperform the market. Recently, as a researcher Ryan Watkins Informed, Terra is off to implement 3 major upgrades to 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 20.M.

As NewsBTC reported in August, Columbus-5 was delayed in giving every actor in the Terra ecosystem more time to prepare for the upgrade. Designed to introduce a deflationary mechanism for LUNA, this upgrade will increase Terra’s interoperability while creating more demand for Terra’s underlying resources.

In the meantime, the wormhole upgrade will serve as a component of communication between Terra, Etherium, Solana, Binance Smart Chain and potentially more blockchains in the future.

Related Reading | Why Terra (LUNA) will reward users with a new Community Bounty program

In addition, the upgrade introduces a user interface that will eliminate friction between network value transfer capabilities. Finally, the IBC protocol will allow Terra to benefit from “tokens across unauthorized trans off chains.” The team behind the wormhole celebrated the achievement:

Terra is known for its vibrant ecosystem, the #LUNAtic community and its decentralized stablecoin, $ UST. Terra has grown dramatically in recent months, and we’re excited to announce Terra innovation in the SOL, ETH, and BSC communities!

Luna ready for take-off? The bull market is in its infancy

Historically, tokens with interoperable capacity have performed well. Binance smart chain token BNB, integrated with its own burn mechanism, has gone from below $ 30 in 2020 to the all-time high of Ce 600 behind its CeDeFi utility.

Related Reading | Can LUNA reach 170? This VC fund thinks it has its basics

Terra Stablecoin UST has another secret weapon. Talking about recent developments, Watkins claims that the Terra ecosystem has created the possibility of a new cross-chain trade boom. In September, researchers made the following predictions:

As Colombus-5 and Wormhole V2 go live in the coming weeks, UST growth will accelerate, setting it up to challenge the DAI for the top spot in decentralized stablecoins.

As can be seen in the chart below, Terra’s Native UST has taken the decentralized stablecoin market by storm. Since February 2021, its dominance over the sector has skyrocketed and looks set to continue the trend with an upgraded ecosystem.

Land LUNAUSDT LUNA
Source: Ryan Watkins, Messri via Twitter

As Watkins noted, there are two main trends that will allow UST and Terra to grow: new capital is coming into the ecosystem due to upgrades, UST is moving to new platforms.





Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button