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Terra (LUNA) Crypto Skyrockets to 12th Place

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Terra (LUNA) Crypto Skyrockets to 12 Place

When it comes to crypto market caps some cryptos seem to come out of no where and skyrocket to new levels. This gathers a lot of attention in fact HIVE recently hit the top 100 list not all that long ago.

What Is LUNA

LUNA is (Programmable Money) that's a public blockchain protocol that is used to deploy a number of decentralized stablecoins. That's two BIG pluses right there.

Decentralized - Which is a growing topic and more demand is being pushed towards decentralized systems.

Stablecoins - Stablecoins are here to stay but they do bring in the SEC as their point of entry into trying to regulate the crypto world because it's backed by a $1 value.

However the combination of these two things does seem like the next direction the crypto community is headed and well the population in general as continued screwups, wastefulness and privacy concers are becoming the focus point for many.

DEFI & Moving Forward

Stablecoins have become a big thing lately. It's a way to quickly move your funds out of a crypto that might have skyrocketed and you want to lock in profits before it crashes and buy up even more then you had before. This very quick transaction process is key if you're into trading cryptos or even if you just want to lock in those profits. (In a very real way we can do this on HIVE via HBD and Hive itself)

Stablecoins have also become one of the leading cryptos to invest into defi platforms. By offering up more of a stable return these stablecoins are a great way to add liquidity to a platform and minimize risk of impermanent loss.

What LUNA Offers

Luna offers one of the largest stable coins the #ust

Smart contracts which are powerful but dumb at the moment lol

DeFi environments with cross-chain capabilities

Built from Cosmos SDK & Tendermint consensus.

When you step back and look at what LUNA is talking about you can start to see why it's quickly become a big shinny crypto. On the surface it's offering up everything the community is looking for. Decentralized, Stablecoins and DeFi.

If LUNA takes off more over the next week I'll be sure to deep dive into this project and offer up how to earn it, buy it and some of the best DeFi platforms and other apps it offers currently.

A few important points on LUNA

  • Stablecoins are being heavily watched and possible regulation targets for the SEC (That's not to scare you it's just fake and we have seen them go after this sector)

  • LUNA is a deflationary token, more gets burned creating less supply which should drive up price. Personally I don't like tokens like this. It sounds great on paper but in action it over time it kills the crypto as it becomes harder and harder to get which includes less people owning it.

What are you thoughts on LUNA? Let me know in the comments.

Posted Using LeoFinance Beta