Will Terra recover? Expert analysis, where to buy Terra

Terra

The price of Terra’s token LUNA was as $100 per 1 LUNA in April, but it crashed to near zero last week. TerraUSD (UST), Terra’s algorithmic stablecoin, lost its peg to the US dollar. 

This happened against the backdrop of a major decline in the crypto market, which caused the price of Bitcoin to fall by more than 20%.

Now that Terra has lost 99% of its value, is there any hope for recovery? Its founders are making an effort to get it back up and running, which you’ll read about below. 

If you’re drawn to unique features and want to know how and where to buy Terra, this guide is for you.

Top places to buy Terra now

Celsius

Celsius is proud to provide a platform of curated services that have been abandoned by big banks – things like fair interest, zero fees, and lightning quick transactions. Our goal is to disrupt the financial industry, one happy user at a time, and introduce financial freedom through crypto.

coingate

CoinGate is a Lithuania-based fintech company founded in 2014. The payment gateway offers cryptocurrency payment processing services for businesses of all sizes. Permission-based account management, fiat payments to bank account, and brand new email invoicing functionality are just a few of the reasons why CoinGate has become a go-to payment processor for many.

FTX

FTX is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens. We strive to develop a platform robust enough for professional trading firms and intuitive enough for first-time users.

What is Terra?

Terra Luna is a crypto project created by Terraform Labs, a Singapore-based technology company. Its goal was to drive crypto adoption by creating a set of decentralized algorithmic stablecoins needed to perform DeFi transactions.

Terra reanimation action plan 

Terra’s founder Do Kwon has a plan to reanimate the coin. The first part of the plan involves a huge burn of the stablecoin TerraUSD (UST-USD) to bring it back to $1.

They plan to burn over 371 million UST on the Ethereum mainnet and any remaining UST in the Terra community pool.

The second part is to stake 240 million LUNA tokens to stop whales from seizing control and to stabilize network governance. 

Additionally, the developers shut down the Terra blockchain and suspended all pending transactions. This was to prevent people from buying LUNA at its extremely low price.

Should I buy Terra today?

Considering how hard it is to come up with an accurate cryptocurrency prediction, you should never make any decisions affecting your finances before an in-depth market analysis. Don’t invest more than you can afford to lose. 

Terra Price Prediction

Many investors have become pessimistic about Terra’s prospects. According to the Motley Fool, the project is best avoided despite the low token price.

Digital Coin Price and Coin Price Forecast see little hope for LUNA, forecasting an end-of-year price of below 1 cent resp. 6 cents.

However, other experts disagree. Investing Cube believes it is possible for LUNA to recover. If the stablecoin goes back to $1 again, LUNA will start gaining.

Wallet Investor has not adjusted its bullish prediction for LUNA from before the crash. They predict 1 LUNA will trade for $151 in May 2023. Finally, Gov Capital anticipates LUNA to be worth $108 a year from now. 

Terra on social media

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