As everything has turned online, so have currencies, and cryptocurrencies are in the news everywhere. There are cryptocurrency stocks from where one can buy these cryptocurrencies. And one of the exchanges is KuCoin. Kucoin, also known as “People’s Exchange,” has become a famous exchange, with many people joining it. There are many reasons for it, but a few are the number of registered coins being offered, multi-language customer services, a small investment return is considerable, and many more.
As mentioned above, KuCoin offers various cryptocurrencies. These include Bitcoin, Lite coin, Zen, Ethereum, Luna, and numerous other cryptocurrencies. Let’s analyze Luna crypto. Luna is a South Korean-based traditional cryptocurrency for the Terra ecosystem. It was launched in 2018 and was founded by Do Kwon. He was a former computer science graduate from Stanford University. Thus the primary purpose of Luna is to stabilize the values of the coins along with looking terra ecosystem through the process of staking. The users could use LUNA cryptocurrency to provide liquidity and earn rewards.
So what are stable coins? Stablecoins are cryptocurrencies that aim to be less fluctuating and unpredictable. Thus they are more valuable than more volatile cryptocurrencies as a medium of exchange.
One of the things that Luna faced was the collapse. According to a statement by the Luna Foundation Guard (LFG), the non-profit organization’s cryptocurrency reserves fell from around 80,000 to 300. As a result, several investors were left exposed to volatile market conditions. Whale dumping of tokens was also a cause of the downfall of Luna. A state of chaos was created among the retail investors. According to Aliasgar Merchant, “Terra’s downfall taught us the need to focus more on building rather than on earning,” This is cent percent true dedication, and focus is the key.
Due to the decline in value, stable coins were backed by the investors’ confidence.
Will Luna Recover?
Yes, the way to recover Luna’s value close to its former price would be to burn large amounts of the supply to bring it back down to pre-crash levels. And it has bounced back, and amazingly it has risen by 900%; still, it is one of the best cryptocurrencies.
What Is Luna’s Price?
If we go through some of the cryptocurrency prices it goes like this one Bitcoin is 4,162,694.00PKR, and one Ethereum equals 215,186.49PKR. Similarly, the current Luna price is $0.000088 per LUNA. According to the economy watch, by 2025, the cost of Luna will be around $100. However, Digital Coin Price does not think that way. According to them will stay at an average price of $0.00020.
As discussed earlier, Kucoin is one of the fantastic and reliable exchanges that provide a variety of registered coins, and users can select from them. Talking about Luna, one of the registered coins offered by KUCOIN, is also an excellent option to deal with. However, it has gone through a crush Khown didn’t get disheartened, but he has bounced back with an alternative plan. Thus buying from KUCoin is stress-free.