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Terra Ecosystem

TERRA LUNA BIG PUMP EVER !! LUNA BREAK HUGE LEVEL TODAY

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Synopsis: Terra price today is 90.03 $, with a 24 hour trading volume of 3.8 billion $. Terra is down 3,42% in the last 24 hours. The current CoinMarketCap ranking is 7, with a live market cap of 33  billion $. It has a circulating supply of 371 million LUNA coins.
According to our current Terra price prediction, the value of Terra will drop by -20.41% and reach  71.58 $ by March 9, 2022. According to our technical indicators, the current sentiment is Neutral, while the Fear & Greed Index is showing Fear. Terra recorded 20/30 67% green days with 22.26% price volatility over the last 30 days. Based on our Terra forecast, it’s now a good time to buy Terra.

Based on today’s classical pivot point P1, with the value of 90.53 $, Terra has support levels of 86.97$, 83.48$, and the strongest at 79.92$. Similarly, Terra resistance levels are at 94.02$, 97.58$, and 101.07$.
To get a better idea of what could, happen to the Terra price in the future, it’s helpful to also explore Terra’s, price history. In the last month, the LUNA/USD pair is up 78.17%. The 1 year performance of LUNA/USD is 1,286.96%.

The price of Terra’s native token LUNA, has over the past week been on an ascent, and the result is that Terra has now flipped, Ethereum for second place in total staked value.Terra surpassed Ethereum, in staked value at the start of the month, according to on chain analytics, and data provider Staking Rewards. It now has 28.671 billion $, in staked value with an annualized reward rate APR of 6.62%. This places it only behind Solana at 35.307 billion $, and above Ethereum at 25.935 billion $.

The on chain mechanics, of demand and supply that peg Terra’s algorithmic UST, stable coin are to thank for the spike in LUNA prices, that drove Terra’s staked value to second place. Since LUNA backs UST, whenever the supply of the stable coin changes, say it increases, users are incentivized to burn LUNA, to maintain the peg of the stable coin.

Therefore, as new UST tokens were minted to increase, the supply from 11.26 million to around 12.92 million tokens, between the start and end of February, according to data provided by Smart Stake, 2.57 billion $ worth of LUNA tokens were burned to retain the peg. The burn explains why LUNA, currently trading 89.81 $, has spiked 89.93% over the last month, and 38.3% in the last week.

Notably, according to DeFiLlama, Ethereum is still king in total value locked TVL, with a massive 113.85 billion $ against Terra’s 23.17 billion $. The difference exists because, unlike the total staked value metric, TVL includes the value of assets locked across, all DeFi protocols and not just the staked ETH LUNA.

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