Currency markets are fickle, and cryptocurrencies are no exception to this fact. Today’s powerful currency can quickly become tomorrow’s laughing stock and vice versa. For example, look at the case of Terra Luna Price, the cryptocurrency that quickly progressed from $0 to $103 and backed down again in just three days.
The Strategic Mindset Of Traders
That’s right—traders who bought into Luna when it reached $103 sold out at $0 after only three days of trading on the market, but before you give up on this currency, you should know that it has more potential than you might think.
Luna is one of Terr’s native tokens. Luna is used for staking and network security. The Luna token is distributed via an airdrop, with 30% allocated to token holders and 70% reserved for future distribution.
Luna will also be used to pay Terra’s monthly subscription fee and reward miners who contribute computing power to the Terra network. All transactions are completed off-chain and verified by Masternodes, which require a stake in the form of Luna coins.
Because of these mechanics, Luna has become popular among traders as it could compete with Ethereum as a decentralized application platform. Major crypto players like Bitmain and Bitfinex back Luna.
A Prolific Ecosystem Of The Terra Domain
In addition to its use in the Terra ecosystem, Luna can be traded on major exchanges such as Binance or Huobi without difficulties. Luna has received acclaim from many investors because of its quick progression in price.
Luna is a cryptocurrency that was introduced in December of last year. It reached its all-time high in December, which attracted global investors. Its price quickly increased to $103. Luna’s price has increased 266% since this year started.
Luna Coin Price is one of the fastest cryptocurrency marvels making quick progress in the stock market. Let’s say that Luna is on a very productive path. Luna quickly reached the stature of $103 price. Traders look at the rapid progression in Luna price with a dream inside their thoughts and think about what would happen if this currency reaches even higher prices. But, some traders also worry if they can afford their stocks as they can’t predict which way it will go and when? Still, many people find hope with these higher prices as they have already made some investments earlier and now can enjoy more profit than before.
Options And Future Prognostications For Low Investors
As for those who don’t own any stocks, they still have opportunities because there are still many cheap stocks left available for purchase.
Luna’s future is impalpable for experts. Probably Luna will reach a climax of success shorty. A cryptocurrency that has been flying below the radar for over a year, Luna is one to watch if you’re looking for a profitable investment. With its current price at 103 USD, it’s possible Luna will soon reach an all-time high of 120 or more in 2018.
Rethink Twice Before You Opt for An Investment option In Luna
So how can I invest? Well, there are two options. If you don’t want to buy some coins and wait it out, consider using an exchange like Binance where you can trade fiat currency like US dollars (USD) for some Litecoin (LTC), then exchange your Litecoin into Luna (LUNA).
The second option would be to use Stellar Lumens which are trading at about 0.25 USD each. To start with this method, sign up with Coinbase and purchase Bitcoin from them. Then transfer your BTC to Poloniex or Kraken.
Why Deposits Are A Essential To Every Crypto Culture
You’ll need to use your BTC as a deposit for purchasing XLM; make sure to have enough BTC in order to keep trading through their platform. Next, find LUNA/XLM on their respective markets and buy as many coins as you feel comfortable with.
You can withdraw the funds back into Coinbase so they are ready when it comes time to sell those crypto assets back again. The future seems pretty opaque for luna traders. Crypto Prices are inconsistent which can be a crucial fact regarding their trade.
When it comes down to things like financial investments, always do your research and be smart about what you put money into. It doesn’t matter what cryptocurrency we’re talking about – cryptocurrencies change prices constantly because supply varies. Crypto assets fluctuate on a daily basis due to market forces of demand and supply.