The reason behind the rise in Terra (LUNA) is that CoinQuora has risen by more than 15,862% in one year
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- ($ MOON) rose more than 15,862% in one year.
- Algorithmically backed UST has become the largest stable currency of its kind.
- And Web3 adoption continues to receive DeFi as a dollar.
- After the rise, many are speculating on the concept behind the rise of the MOON.
Terribly, Terra (LUNA) has risen 50% in the last week, even though the crypto giant (BTC) has fallen 9.03% in the last seven days. LUNA has risen to a new record in history for five days in a row, registering more than 15,862% in one year. Needless to say, its decentralized, algorithmic TerraUSD (UST) currency has become the largest of its kind. In addition, Web3 continues to receive adoption as DeFi dollars.
As the moon rises day by day, some crypto-analysts are trying to figure out the reason for the bull’s position in the coin. Some say that success is due to the Layer 1 brand. What’s more, the well-known memecoin speculator on Twitter (NYSE 🙂 says Dogetoshi, “Luna is basically Synthetix, but with the Layer 1 brand, instead of the app brand, which is why it sells as Layer 1 instead of DeFi.” The tweet created a high level of discussion, and many questioned his assessment.
On the other hand, a crypto analyst, Zack Guzman, explained in a Twitter thread the reason for the proper rise of LUNA. Following his tweets, he says that after upgrading to Columbus-5 Earth, the MOON is burning 4 times.
@terra_money ($ LUNA) crypto project up 50% last week to reach a new high, while bitcoin fell 5%
The algorithmically protected $ UST coin has become the largest of its kind and continues to take Web3 adoption as the DeFi dollar.
Why is it great 1 / X pic.twitter.com/LSUeA9HgO6
– Zack Guzmán (,) (@zGuz) December 2, 2021
As a result, LUNA has become more deflated and more likely to rise in price, while more people are taking UST as their chosen stable currency. He also adds that the winning cryptography projects are the ones that solve the real problems.
In short, the general factor affecting LUNA’s supply and price is that its supply is directly affected by UST supply and then determined by UST demand. Please note that UST demand is a function of user adoption and many other functions.
Moreover, if the supply of LUNA becomes scarce, let us assume that from one year to the next, the price of LUNA is expected to rise parabolically. At press time, LUNA has grown 30.36% in the last 24 hours and is selling at 74.73 according to the unit’s CoinMarketCap.
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