About Terra (LUNA)

Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements. Luna is also used to pay network fees, participate in the blockchain's governance protocol, and stake in Terra's Proof of Stake consensus mechanism. Using Terra Station, you can stake and store your LUNA and participate in the network's governance. This app is the official wallet and dashboard for the Terra blockchain network.

To peg a Terra stablecoin, the creator must make it convertible to a fiat value of LUNA equal to its peg. For example, a euro stablecoin would be convertible to one euro's worth of LUNA. This allows arbitragers to profit when the stablecoin moves from the peg and ultimately holds the token at its fixed rate.

You can also earn LUNA rewards by staking your LUNA as a validator or delegating it behind another validator. The rewards from successfully adding blocks are then shared with delegators. To become a validator, you must bond a specific number of LUNA tokens for at least three weeks. However, most average users will find delegating easier and more accessible.

LUNA Floor Price

In this section, we have examined Luna's price floor. Many experts believe that the price of $ 52 is Luna's price floor. For this reason, the table below shows the number of days that Luna was higher or lower than this value using the on chain data.

In the continuation of the present work, you will see the price chart of Luna in a 45-day period, which shows the price fluctuation of Luna around the range of $ 52 as the new price floor.