Terra: this is its market value today

LUNA is the native token of terraa blockchain founded in 2018 that launched its mainnet in April 2019 through the Cosmos SDK platform, which focuses on call origination stablecoins.

In this scenario, LUNA must act as a collateral for the rest of the digital currencies it uses. earthlike USD, so they can then be converted back to LUNA, which makes it different from other stablecoins.

In order to “pin” a Terra stablecoin, the miner or cryptocurrency creator you need to convert it into a fiat value, i.e. a euro stablecoin would be convertible into LUNA for the value of one euro; it would be the same with other types of currencies such as a dollar, an Argentine peso, a won, a yen, among others, thus guaranteeing its “stability” by keeping it at a fixed rate.

For example, if the price of terra UST is $9.98, the trade would be one dollar, so users would earn two cents, a situation that it would increase the demand for UST and reduce the supply by burning (destruction of some units), which would generate a rise in the price if the amount of demand was maintained.

The relatively new digital currency questioned its supposed stability after the early days of May 2022, cryptocurrencies faced a crisis that dragged on one by one and Terra blockchain investors started to dump it. causing a “shock” in the arithmetic mechanism used to stabilize its value, implying that LUNA has lost 99% of its value. With that, its value of $118 ended below 0.0001%.

Land cost

The cost of terra cryptocurrency for that day at 4:05 p.m. (UTC time) is $1.903782 per unit.

This means that the digital asset has suffered a change of 5.39% in the last 24 hours as well as a variation of -1.41% in the last 60 minutes .

A digital currency is a digital medium exchange that does not physically exist and uses cryptographic encryption to ensure the integrity of its operations, while maintaining control over the creation of its new units.

Bitcoin was the first to hit the market and was followed by others that also had great relevance, such as litecoin, ethereum, IOTA, tether, cash, ripple, decentraland, even some born of memes like dogecoin.

Cryptocurrencies have different characteristics that make them unique: not being controlled by an institution; not requiring intermediaries in transactions; And almost always use accounting blocks (blockchain) to prevent new cryptocurrencies from being created illegally or transactions already made from being altered.

However, by not having regulators such as a central bank or similar entities, they are singled out for not being reliable, being volatile, promoting fraud, not having a legal framework that supports its users, allowing the operation of illegal activities, among others.

To buy and exchange them, you can via specialized portals. Its value fluctuates based on supply, demand, and miner engagement, so it can change faster than traditional money, but the more people are interested and want to buy a certain currency, the more its price is high.

However, anyone investing in this type of digital asset should be very clear that this form entails a high risk for the capitalWell, just as there can be a surge, it can also crash unexpectedly and wipe out the savings of its users.

To store them, users must have a digital currency or wallet, which is actually software through which it is possible to save, send and transact cryptocurrencies. In fact, these types of wallets only hold the keys that mark a person’s ownership and right to a certain cryptocurrency, so these codes are the ones that really need to be protected.