Terra Hits Market Capitalization of $6.40 Billion (LUNA)
Terra (CURRENCY:LUNA) traded 6% lower against the U.S. dollar during the 24 hour period ending at 14:00 PM ET on May 4th. One Terra coin can now be bought for $16.43 or 0.00030299 BTC on cryptocurrency exchanges. During the last week, Terra has traded 6.6% lower against the U.S. dollar. Terra has a market capitalization of $6.40 billion and approximately $638.80 million worth of Terra was traded on exchanges in the last 24 hours.
Here’s how related cryptocurrencies have performed during the last 24 hours:
- Tezos (XTZ) traded 6% lower against the dollar and now trades at $5.70 or 0.00010509 BTC.
- Dimension Chain (EON) traded 0% lower against the dollar and now trades at $0.35 or 0.00001074 BTC.
- Umbrella Network (UMB) traded 12.8% higher against the dollar and now trades at $0.79 or 0.00001453 BTC.
- Adshares (ADS) traded 3.1% lower against the dollar and now trades at $0.42 or 0.00000769 BTC.
- Apex (CPX) traded 1.2% lower against the dollar and now trades at $0.0057 or 0.00000012 BTC.
- Golos Blockchain (GLS) traded up 7.5% against the dollar and now trades at $0.0028 or 0.00000005 BTC.
- Luna Coin (LUNA) traded 19.8% lower against the dollar and now trades at $0.0065 or 0.00000012 BTC.
- Xeonbit Token (XNS) traded 3.2% higher against the dollar and now trades at $0.0163 or 0.00000030 BTC.
- The Smokehouse (SMOKE) traded 33.6% lower against the dollar and now trades at $0.0199 or 0.00000037 BTC.
- Crypxie (CPX) traded 6.5% lower against the dollar and now trades at $5.10 or 0.00009403 BTC.
According to CryptoCompare, “Terra aims to build a new financial infrastructure that works better for everyone. The network is powered by a family of stablecoins, each pegged to major fiat currencies all algorithmically stabilized by Terra’s native token, Luna. Terra’s mission is to set money free by building open financial infrastructure. Luna, as the native staking asset from which the family of Terra stablecoins derives their stability, utility, and value, acts both as collateral for the entire Terra economy and as a staking token that secures the PoS network. Luna can be held and traded like a normal crypto asset, but can also be staked to accrue rewards in the network generated from transaction fees. Luna can also be used to make and vote on governance proposals. The family of Terra stablecoins is designed to achieve stability through consistent mining rewards with a contracting and expanding money supply. For example, if the system has detected that the price of a Terra currency has deviated from its peg, it applies pressure to normalize the price. Currently, the family of Terra stablecoins includes: KRT (Terra stablecoin pegged to Korean Won), UST (Terra stablecoin pegged to US Dollar), MNT (Terra stablecoin pegged to Mongolian Togrog), SDR (Terra stablecoin pegged to IMF SDR), with more being added in the future. “
Buying and Selling Terra
It is usually not possible to buy alternative cryptocurrencies such as Terra directly using US dollars. Investors seeking to trade Terra should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Terra using one of the aforementioned exchanges.
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