• Wed. Jun 12th, 2024

Terra (LUNA) Experiences 20% Rally Due to a Few Reasons



Jul 11, 2021

While the Bitcoin (BTC) price continues to fluctuate between the $31k and $36k per BTC figure, the altcoins have decided to show their true potential. During this time when Bitcoin is struggling to break through the $40k per BTC barrier, altcoins continue gaining rallies and price surges.

This time, the altcoin making visible progress is Terra (LUNA). LUNA is a protocol that is based on the blockchain network. The specialty of the altcoin is excelling in stablecoins such as TerraUSD (UST) that are classified as fiat-pegged stablecoins. Its functionality is to ensure that there is price stability in the payment systems being used globally.

The team behind the development of Terra (LUNA) has proven to be very active through the Twitter platform. They are constantly sharing feeds on the project updates and any additions they have been working on for the project.

The recent communications and feeds made by the development team at Terra (LUNA) have hinted that the team has been involved in several projects and endeavors lately.

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According to the Twitter page of Terra (LUNA), it is clear that the LUNA development team had dedicated the entire month of June to protocol upgrades. The project went for all the upgrades it needed to make in order to make it more productive and efficient for the users.

Furthermore, the development teams at Terra have also reported that they have made several integrations and undergone several partnerships. The development teams at Terra (LUNA) have done this all for the development and effective integration of the LUNA project.

This is the reason why LUNA has now become very promising for its community as well as new users who are observing the altcoin markets. Moreover, the Bitcoin community is also making a shift from the digital asset over to others where the situation is favorable for them.

Back in June, Terra had made an announcement in regards to the farming opportunities for Terra through Dfyn. Then the firm also announced that it had finally been listed on one of the major cryptocurrency exchanges, Crypto.com. Furthermore, another promising announcement that Terra made was the addition of another protocol into its service portfolio.

The firm announced that it had recently launched Mirror V2, which made the month of June for Terra, one of the most productive and promising ones.

As Bitcoin continues to struggle with its price and aims to make it back into the rally trend, altcoins have found it to be the best opportunity.

The altcoins are making the best out of this situation and are trying to attract as many investors as they can on their protocols. This requires a lot of developments and advancements that the protocols have already started working on.


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