A surprise rally in Terra’s LUNC- Real potential or red sign?
With inflation and other economic crisis taking their toll on the global markets, there is no doubt that the cryptocurrency industry has suffered the biggest correction. Several incidents have also turned out to be catalysts in creating a bearish momentum in the market. Bitcoin, which was trading at its all-time high of around $67,000 just last year has fallen more than 70% since. While the market was already in a red zone, one incident in May shocked a huge number of investors and crypto enthusiasts. The fall of Terra’s Luna(now renamed LUNC) was an unexpected instance as it was one of the most popular and well -performing assets in the space at that time. Let us take a look at the specifics before we talk about its recent hike What is Terra (LUNC) Terra is a blockchain protocol developed by Daniel Shin and Do Kwon to power price-stable global payments using fiat-pegged stablecoins. Based on its white paper, Terra combines fiat currency stability with Bitcoin (BTC)...