After its stablecoin lost its USD peg, Terra entered a downward spiral. The trend continues today, even more markedly than yesterday, when LUNA lost “only” half of its value.
Terra had fallen to #14 on Coinmarketcap, but today it is down to #29. Is it time to buy the dip before it’s too late?
If you want to know more about Terra, can it give you good returns, and the best places to buy Terra now, you have come to the right place.
Best places to buy Terra now
eToro is one of the leading trading platforms when it comes to investing in crypto-assets. Packed full of features including copy trading, advanced technical charts and an extensive range of trading tools, eToro’s platform is ideal for beginners and pros alike.
Buy LUNA with eToro!
BitPanda is an Austria-based bitcoin broker. It offers a wide range of payment methods and has good prices.
Buy LUNA with Bitpanda!
What is Terra?
Terra has tried to stand out with its use of fiat stablecoins, claiming that it combines the borderless advantages of cryptocurrencies with the day-to-day price stability of fiat currencies.
It’s a reliable strategy, only his UST stablecoin lost its peg, that’s why all this happened. The stablecoin was actually unsupported.
The algorithm supposed to adjust the supply of stablecoins based on demand did not help. This has prompted LUNA holders to trade LUNA and stablecoins at profitable exchange rates to expand or shrink the supply of stablecoins to meet demand.
Currently neither LUNA nor UST are requested. Almost all major exchanges have blocked withdrawals.
Should I buy Terra today?
Terra can definitely be worth investing in if your timing is right. It may not be now. If you think he’s going to recover, that’s a risk you have to take.
Any investment decision should consider your risk tolerance. Don’t take any price forecast at face value.
Terra Price Prediction
Analysts remain bullish on Terra despite the drop. CryptoNewZ predicts that it will trade between $78 and $85 per coin next year. Wallet Investor’s one-year price prediction is $151.
Coinpedia expects LUNA to trade between $132 and $257 by the end of next year. Gov Capital joins the bulls with its one-year price prediction of $166.
Terra on social media
— Hossain 🌔🌕 (@hossainraj16) May 10, 2022
Risk Disclosure: The articles and articles on Arover.net do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies.