3 Reasons The Terra Luna Price May Go to $0 and 3 Better Altcoin Alternatives
Terra Luna's price has been consolidating near $2.42 for some time now, and investors are wondering if it will recover or continue to fall until it reaches $0. Furthermore, what alternatives do we have if Terra fails to recover?
Terra is currently trading at $2.43 with a 24-hour trading volume of $184 million. Terra has increased by over 2% in the last 24 hours. CoinMarketCap currently ranks #105 with a live market cap of $309,406,063 USD. The circulating supply is 127,475,474 LUNA coins, and the maximum supply is not known.
The Terra ecosystem governing team, consisting of LUNA and LUNC, has unveiled a new expansion strategy for the ecosystem. After the devastating disaster, the team adopted this plan to try to revive Terra's environment.
Remember how the Terra scandal shook the crypto sector, wiped out billions of dollars, and drove some crypto service providers out of business?
The creators of the Terra ecosystem proposed a revised expansion plan to foster ecosystem growth and address criticisms of the original plan. As part of this initiative, participants would get 95,000,000 LUNA, or around $248,000,000.
In the original idea, 80% of the 100 million LUNA would have been allocated to mining rewards for developers. However, it is thought that only a handful of projects have significant total value locked (TVL) on the protocol.
In addition, there would be no incentive for healthy competition or equitable distribution of mining revenues under this scheme. The new proposal reduces the miners' earnings from 80 million LUNA to 20 million LUNA. Moreover, 50,000,000 LUNA would also be reallocated as liquidity mining awards to promote the growth of decentralized exchanges on the Terra ecosystem.
Furthermore, every year, incentives
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