NEW YORK, NY / ACCESSWIRE / December 9, 2021 / NewsReportz Price analysis of Luna crypto, The Native token of Terra, which recently soared into the top 10 cryptocurrencies by market capitalization.
Terra’s luna coin price gained 6% on Wednesday following a significant recovery in the crypto market caused by the massive sell-off in which crypto investors had lost more than $300B. Luna crypto still showed an approximate 25% gain in the last seven days – giving it a market cap of about $25 billion, according to CoinMarketCap data. However, it’s sunk from its November highs.
DeFi investors have been looking for alternatives to ethereum, and BSC-based projects are getting significant attention. Another BSC-based crypto skyrocketing like Terra is EverGrow Coin launched just two months ago. The hyper deflationary token already has more than a hundred thousand token holders. One of the main reasons behind EverGrow’s initial parabolic rise is its unique tokenomics. EverGrow distributes 8% from every transaction amongst its holders and has already distributed more than 30M$ in rewards over the last eight weeks. According to their roadmap, Evergrow is developing a suite of utilities in their Ecosystem, including the content subscription platform, the world’s First NFT Lending Platform, BSC-based NFT Marketplace, Play-2-Earn Games, and Crypto Wallet App just announced on their official Twitter. In the past day, EverGrow price has gained more than 20%
Launched in 2018, the Terra blockchain uses stablecoins to run its payments system and uses the luna token to stabilize the price of the protocol’s algorithmically-backed TerraUSD stablecoin. Terraform uses algorithms to generate stablecoins or cryptocurrencies whose values are stabilized by pegging them to fiat currency or gold. However, the business of Ethereum competitors like Terra’s Luna Coin is booming, with experts calling the new class of rivals-which also includes coins such as Polygon and Solana. The recent surge in the crypto market due to DeFi is exciting, which exploded on the scene, and Luna crypto might benefit from the transition of proof-of-stake protocols over proof-of-work for crypto mining.