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Several developments have attracted investors back to Terra Luna Classic in the past week. Can LUNC hit the $10 peg this year and restore its former glory?
Recent developments point in this direction.
USTC to Repeg
Terra Luna Classic did not start on such a poor footing. At its height, the token was among the top trending crypto assets, with a $119.1 price peg and billions in market cap. The project’s attraction was found in its algorithmic stablecoin, UST, which facilitated fiat-like transactions in the Terra ecosystem.
However, a series of incidents caused UST to lose its $1 price peg and LUNA to follow suit. Principal founder Do Kwon then deployed a hard fork which caused the original blockchain to be renamed Terra Luna Classic and its algorithmic stablecoin USTC.
Although USTC has struggled to regain its dollar peg, there is a growing...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...