Crypto NewsWhy is Terra (LUNA) Trending Upward? New CEO Chris Amani Explains the...

Why is Terra (LUNA) Trending Upward? New CEO Chris Amani Explains the Source of the Rally

Chris Amani, the new CEO of Terraform Labs, made a statement after the increase in the Terra (LUNA) altcoin price.

Follow Bitcoin Sistemi Google News Button

Following the recent rise in the price of Terra (LUNA), some cryptocurrency followers questioned the reasons behind the coin's rise.

LUNA price has increased by approximately 50% in the last month and is trading at $0.9677 at the time of writing. LUNA was created as a hardfork from the main chain Terra Classic (LUNC) and aimed to bring a solution to the sunken ecosystem. However, the coin is still trading approximately 95% below its all-time high.

Graph showing the performance of LUNA price in the last month.
Related News  Ripple (XRP) President Reveals Her Cryptocurrency Predictions for 2024

Following the recent rise, Chris Amani, the new CEO of Terraform Labs, the main developer behind the Terra ecosystem, following Do Kwon, published a statement.

Questioning the secret behind the price increase, Amani said that the source of the increase was Terraform Labs' uninterrupted continued development of Terra. In addition, Amani claimed that developer activity, far from stagnating, is increasing.

Continuing to explain the reasons for the rise, Amani reminded that the Terra community is the largest community within the Cosmos ecosystem and argued that the developers returned to LUNA after the collapse.

The total market value of LUNA, LUNC and USTC cryptocurrencies is at the level of 310 million dollars at the time of writing this article. However, before the crash, LUNA alone had a market capitalization of over $90 billion.

*This is not investment advice.

Buradaki Yorumlardan Bildirim Al

Inline Feedbacks
View all comments

Popular Posts of the Week