Is LUNA the lone BULL in a pack of BEARS?
Updated
As an intra-day/intra week trader it's been tough recently to find enough space for profit without risking too much. So I decided to look through some of my published ideas and found my hit rate to be satisfactory with one call that was way way off. (link below)
So I was compelled to dig deeper and zoom out on LUNA/TERRA and see what the BIG PICTURE really is.
LUNA had a meteoric rise since December and has never really quit. It's velocity has continued in one direction upwards. Higher highs and higher lows continue to be set as this asset has cracked the top ten crypto market caps and, excluding stable coins, is only behind BTC, ETH, and BNB.
Just doing some back of the envelop math with a friend we calculated that LUNA, with BNB's market cap, would be priced around $170.
Outside of TA and price spec this asset/network is flush with features and apps that many of it's layer one competitors have failed to check off the list including:
1. UST - The only major USD stable coin that is decentralized and not back by cash and commercial paper (USDT, and USDC are) and has continued to be added to major exchanges and adopted by other chains.
2. Anchor protocol (ANC) - Offering a staggering 19.5% for UST blows competitors out of the water as far as stable coin yield % is concerned. The same protocol/app allows you do deposit bonded LUNA (bLUNA) and bonded eth (bETH) and borrow from them.
3. Mirror protocol (MIR) - First of its kind, mirror protocol allows you to get exposure to traditional finance equities like ALPHABET, AMAZON, and MICROSOFT. And commodities exposure through mirrored assets that track USO (United States Oil Fund), SLV (ishares silver trust), IAU (ishares gold trust).
To boot, all of these can be combined with an equal amount (in $ value) of UST and farmed on mirror protocol to earn MIR, or they can be borrowed from.
4. A handful of other earn/borrow decentralized apps like Valkyrie Protocol, Pylon Protocol, Mars Protocol, Orion Money, and PRISM)
5. TERRA has now become the 2nd largest, behind ETH, for TVL (total value locked)
6. NFTs (randomearth.io, KNOWEHERE, OnePlanet, Messier Art) and NFT gaming (levana, deviants factions)
7. Astroport and Terraswap - Next gen Automated market makers
8. StarTerra- Gamified Launchpad
9. Glow Lotto- a no lose savings/lottery platform where your deposit for entry is never lost
10. TNS - Terra Name Service, inspired by ens.domains
I have yield-farmed and/or single staked on Binance smart chain, Avalanche, Polygon, Fantom, Solana, Cronos, and Harmony One. By far, my experience in the Terra ecosystem has been the best, without question.
Maybe there are some other features I have left out, if you think I have leave some feedback.
This is of course my opinion, but I do believe that this asset will jump BNB and become a top 3 crypto. The technical analysis looks good, the network looks good, the value added features look good. I cannot really come up with any rise why LUNA doesn't have ample upside.
These are just my thoughts and opinions based on a decade plus experience in crypto-land. It is not meant to be financial advice. Please DYOR and trade at your own risk.
Signing off for now,
CryptoSlayer
So I was compelled to dig deeper and zoom out on LUNA/TERRA and see what the BIG PICTURE really is.
LUNA had a meteoric rise since December and has never really quit. It's velocity has continued in one direction upwards. Higher highs and higher lows continue to be set as this asset has cracked the top ten crypto market caps and, excluding stable coins, is only behind BTC, ETH, and BNB.
Just doing some back of the envelop math with a friend we calculated that LUNA, with BNB's market cap, would be priced around $170.
Outside of TA and price spec this asset/network is flush with features and apps that many of it's layer one competitors have failed to check off the list including:
1. UST - The only major USD stable coin that is decentralized and not back by cash and commercial paper (USDT, and USDC are) and has continued to be added to major exchanges and adopted by other chains.
2. Anchor protocol (ANC) - Offering a staggering 19.5% for UST blows competitors out of the water as far as stable coin yield % is concerned. The same protocol/app allows you do deposit bonded LUNA (bLUNA) and bonded eth (bETH) and borrow from them.
3. Mirror protocol (MIR) - First of its kind, mirror protocol allows you to get exposure to traditional finance equities like ALPHABET, AMAZON, and MICROSOFT. And commodities exposure through mirrored assets that track USO (United States Oil Fund), SLV (ishares silver trust), IAU (ishares gold trust).
To boot, all of these can be combined with an equal amount (in $ value) of UST and farmed on mirror protocol to earn MIR, or they can be borrowed from.
4. A handful of other earn/borrow decentralized apps like Valkyrie Protocol, Pylon Protocol, Mars Protocol, Orion Money, and PRISM)
5. TERRA has now become the 2nd largest, behind ETH, for TVL (total value locked)
6. NFTs (randomearth.io, KNOWEHERE, OnePlanet, Messier Art) and NFT gaming (levana, deviants factions)
7. Astroport and Terraswap - Next gen Automated market makers
8. StarTerra- Gamified Launchpad
9. Glow Lotto- a no lose savings/lottery platform where your deposit for entry is never lost
10. TNS - Terra Name Service, inspired by ens.domains
I have yield-farmed and/or single staked on Binance smart chain, Avalanche, Polygon, Fantom, Solana, Cronos, and Harmony One. By far, my experience in the Terra ecosystem has been the best, without question.
Maybe there are some other features I have left out, if you think I have leave some feedback.
This is of course my opinion, but I do believe that this asset will jump BNB and become a top 3 crypto. The technical analysis looks good, the network looks good, the value added features look good. I cannot really come up with any rise why LUNA doesn't have ample upside.
These are just my thoughts and opinions based on a decade plus experience in crypto-land. It is not meant to be financial advice. Please DYOR and trade at your own risk.
Signing off for now,
CryptoSlayer
Note
if you took a position of LUNA you are very happy today. Don't forget to take profits, and stay safe and trade safe.
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