Luna may well get into the top ten cryptocurrencies in the world.
Terra hit a record high of nearly $ 44 on September 11 and then corrected to $ 25. Last week, the cryptocurrency started to rally again and last Saturday tested $ 41 (up 64%).
Part of the boost came after news of Project Dawn, the company that funds the project's ecosystem. Another reason for the increase in the value of the token was the upcoming modernization of the Columbus-5 core network.
The project, which combines coin issuance with an algorithmic stack with lucrative farming protocols, is awaiting the Columbus-5 global update on September 29th, cryptor writes. A robust fork of Terra will speed up transaction processing and allow developers to build bridges to interact with other blocks.
Prices may also be affected by the list of Wrapped Luna and TerraUSD tokens, based on the Terra blockchain, issued on the Coinbase Pro exchange for professional traders.
The project was a success with the release of 4 stablecoins pegged to the Korean currency, Mongolian currency, dollar and euro. South Korea is home to the largest Mongolian diaspora in the world. In addition, Terra is the cheapest money transfer network for both countries. Companies working with Mongolia are already switching to the Terra platform.
The Terra project launched in 2018, with the mainnet launching the following spring. In the fall of 2020, Terra received stablecoins pegged to different currencies.
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