Terraform Labs, a South Korean company, created the LUNA coin, which went live on the crypto exchange in July 2019.
The coin was created as part of a dual-token system with the stablecoin TerraUSD on the Terra blockchain (UST). Burning LUNA produces UST, this gives LUNA its value and ensures UST’s consistency.
LUNA had a strong finish to 2021 and has been able to maintain that momentum into the new year. The inclusion of a $1 billion (£747 million) USDT reserve has boosted investor confidence in the virtual currency ecosphere.
The history of the LUNA coin’s value
LUNA debuted at $1.31 in 2019 but has been on a downward trend for the first 18 months. Despite the fact that it was not a volatile currency, the new token did not appear to have much hope.
Terra announced on August 19, 2020, that LUNA would be listed on the Binance exchange platform. Users could start staking their LUNA coins on August 28th, and the price has risen from $0.33 to $0.56.
It didn’t take long for it to drop again. Despite the fact that UST launched in September of that year, LUNA dropped to $0.32. Until the virtual currency surge at the start of 2021, when LUNA began to behave bullishly, the staking asset had a bleak outlook.
It peaked at $6.44 on February 9 and climbed even higher over the next six months, reaching $34.96 on August 28. It fell to $25.30 during the crypto market crash on September 7th.
Price forecast for the LUNA cryptocurrency
WalletInvestor forecasts continued bullish growth, with a one-year LUNA crypto price prediction of $154.50 and a five-year forecast of $478.31.
DigitalCoinPrice also forecasts that LUNA will maintain its generally upward trend through 2022, with a year-end value of $123.49 on average. A long-term prediction of $144.40 is also available for 2023. It forecasts a $192.83 Terra LUNA coin price in 2025.