Terra Self Reported Market Cap Hits $63.87 Million (LUNA)

Terra (LUNA) traded 2% lower against the U.S. dollar during the 24 hour period ending at 10:00 AM Eastern on January 8th. One Terra coin can now be purchased for about $0.0900 or 0.00000100 BTC on major exchanges. Terra has a total market capitalization of $63.87 million and approximately $21.25 million worth of Terra was traded on exchanges in the last 24 hours. In the last seven days, Terra has traded 2.9% lower against the U.S. dollar.

Here is how related cryptocurrencies have performed in the last 24 hours:

• TRON (TRX) traded up 0% against the dollar and now trades at $0.30 or 0.00000330 BTC.
• Tezos (XTZ) traded 1.9% lower against the dollar and now trades at $0.56 or 0.00000624 BTC.
• Terra Classic (LUNC) traded down 3.7% against the dollar and now trades at $0.0000 or 0.00000000 BTC.
• aelf (ELF) traded up 27.2% against the dollar and now trades at $0.13 or 0.00000141 BTC.
• GXChain (GXC) traded down 3.1% against the dollar and now trades at $0.50 or 0.00000559 BTC.
• Adshares (ADS) traded down 1.9% against the dollar and now trades at $0.72 or 0.00000806 BTC.
• BitShares (BTS) traded 0.6% higher against the dollar and now trades at $0.0012 or 0.00000001 BTC.

About Terra

Terra uses the hashing algorithm. Its launch date was May 27th, 2022. Terra’s total supply is 1,186,707,049 coins and its circulating supply is 709,984,438 coins. Terra’s official website is terra.money. Terra’s official message board is medium.com/terra-money. Terra’s official Twitter account is @terra_money and its Facebook page is accessible here. The Reddit community for Terra is https://reddit.com/r/terraluna and the currency’s Github account can be viewed here.

According to CryptoCompare, “After the UST depegging, Terra community voted for governance proposal 1623, and a new chain was created. The version represented on this page is the new chain that assumed the Terra name, and all Terra branding assets.The new chain is also a Cosmos chain, but do not have the treasury, oracle, or market modules of the original/classic chain.The new chain’s native mining token is Luna.There are no Terra stablecoins (UST, KRT, EUT, etc.) on this new chain.CryptoCompare has taken the following steps to ensure data for both the new version of LUNA and the original LUNA Classic remained available throughout the process:Initially all data for the new version of LUNA was mapped to a temporary ticker called LUNA2, leaving 'LUNA Classic' data on the LUNA ticker.Once the majority of exchanges completed their intended actions and normal trading has resumed we moved all 'LUNA Classic' data from LUNA to its new ticker LUNC.Finally once all LUNA Classic data was cleared from the LUNA ticker we migrated all new LUNA data (held under LUNA2) back to the intended LUNA ticker.You can read more about the 'Terra revival plan' here.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.”

Terra Coin Trading

It is usually not currently possible to buy alternative cryptocurrencies such as Terra directly using U.S. dollars. Investors seeking to trade Terra should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Gemini, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy Terra using one of the exchanges listed above.

LUNA/USD price chart by TradingView