Terra is heading back up towards its all-time high, raising the possibility of another extended rally
Terra is enjoying another strong daily performance with a 15% bounce today. The bounce comes after LUNA slipped slightly following its all-time high earlier this week, and gives investors a chance to get aboard the Terra train before LUNA springs up to a potential new record price. Terra is changing hands for $31.12 at the time of writing, just a couple of dollars below Tuesday’s highs.
Keep on reading for the lowdown on Terra links to the best places to buy LUNA today.
How & where to buy Terra in the UK and elsewhere
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What is Terra?
Terra is a stablecoin ecosystem and DeFi platform built from the ground up as an independent blockchain. Terra issues a dollar-pegged stablecoin, UST, and a native token, LUNA, whose interactions in a burn/mint relationship keep the Terra US stablecoin’s value steady at $1.
Terra is also gaining traction as a functional payments system and has integrated with payments app Chai in order to bring consumer crypto payments to Asian customers. Terra has also pioneered a DeFi application, Anchor Protocol, which claims to offer stablecoin lenders 20% APY returns.
Should I buy LUNA today?
Terra (LUNA) has been one of the best performers of this bull run so far and has achieved a new all-time high in the last week. Having slipped slightly from that price, now could potentially be an excellent time to invest, with the price temporarily hovering just above $30 before another rally can take place. The coin has provided returns of 6175.3% over the last year.