Terra LUNA/USD is a stablecoin payment platform. LUNA is the governance and staking token that fuels the Terra network and supports stablecoins and payment processing systems.
The Columbus-5 mainnet upgrade as a catalyst for growth
Terra was initially founded in 2018. However, it’s mainnet launched in April of 2019.
In August, Terra saw a monthly burn of $185 million in LUNA tokens.
On September 1, the official Terra Twitter profile announced the Columbus-5 mainnet deployment.
It is expected to occur on September 29, or the new block height of 4,724,000.
Terra introduced Project Dawn on September 9, which was new funding for critical infrastructure improvements and core technologies that would supplement the accelerating growth of the Terra ecosystem.
The Columbus-5 mainnet upgrade is expected to be massive, with numerous moving parts which require attentive and thorough examination from a different perspective.
With this major upgrade, we can expect to see a heightened interest in the platform, and as such, the demand and value of its native cryptocurrency token LUNA has the potential to increase.
KuCoin is making the final arrangements for the launch of the latest upgrade of the Terra (LUNA) network. That being said, it is expected for the existing trading operations of LUNA to work normally while the upgrade takes place. However, nobody should expect new tokens to be issued while the network is in its update phase.
Should you invest in Terra (LUNA)?
On September 13, Terra (LUNA) had a value of $36.57.
To get a better perspective of its current price point and potential growth in the future, we will be going over it’s all-time high value as well as its recent performance throughout August.
In terms of the all-time high value, Terra (LUNA) climbed to $43.82 on September 11. This made the token $7.25 higher in value or 20% higher.
In terms of its recent performance in August, on August 2, its value was $11.22. The highest point it reached was on August 29 where it raised its value to $36.56.
This gives us a perspective of the token’s growth throughout the month, where it saw a $25.34 increase in value or an increase by 225%.
If we base the future growth of the token based on its historical performance, we can expect to see an increase in value to $43 by the end of September. Specifically, on September 29, we can expect this jump in value, and as such, this makes LUNA a worthwhile investment before the upgrade goes live.
The post Should you invest in LUNA before the upcoming mainnet upgrade? appeared first on Invezz.
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