Galaxy Digital’s $25M investment causes a 200% increase in the price of LUNA
Terra blockchain is a promising crypto platform for payment projects and DeFi which is encouraged by working products as well as a large and increasing number of DApps audience based on its technology.
In today’s trades, Terra blockchain’s native coin, LUNA rose dramatically to $2.46 experiencing another 37% increase. It was after the $25M investment in Terraform Labs from Mr. Novogratz from Galaxy Digital that LUNA saw a 100% increase.
Aiming at integrating the stability of the fiat currency with cryptocurrency, Terra is a stablecoin from Korea whose Mobile payments DApp CHAI is also gaining popularity due to the fact that it decreases fees involved in fiat payment processing and delivers real-time payment with plenty of Korean merchants.
What sets Terra apart from the other blockchain startups is that it gives actual solutions to working products.
“What’s great about Terra is they are one of the first sandbox experiments that are getting outside the sandbox […] We are always looking at those projects because they are the canaries in the coal mines of what else is going to happen.”
Terra also is supportive of DeFi projects such as Mirror Protocol which is involved in indexes, stocks, and commodities trading.
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