The Terra protocol runs on a Proof of Stake (PoS) blockchain.
Miners must stake their Luna in order to mine transactions. All else being equal, a validator who has staked more Luna has a higher chance of generating the next Terra block compared to another validator who has staked less. In essence, Luna represents a validator’s mining power. However, in providing network security and validation, Luna holders and stakers are exposed to the price risks associated with the asset. This is because the Terra protocol readily exchanges Terra stablecoins for Luna at their determined exchange rate to maintain the peg. Let us review LUNA Price.
LUNA Price Prediction
LUNA is trading above the support zone of $46.02. If it stays above this support zone, we could start seeing a reversal and move towards $55.96, $66.89, $71.77, $87.58 and $113.16. Failure to hold the support at $46.02 could lead to a continuation of bearish momentum towards $37.83 and $33.10.
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