Terra LUNA / USD is a stablecoin-powered payment platform and fulfills the function of a next-generation blockchain network.
The Columbus-5 upgrade as a catalyst for growth
On September 13, we covered the Terra (LUNA) project prior to the mainnet upgrade.
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On September 30, the Columbus-5 update was officially released as the new Terra Mainnet.
The update has important ramifications for the Terra ecosystem.
Columbus-5 can stimulate demand for Terra and UST, the Terra USD token, opening it up to new networks and decentralized projects.
This deflationary look should also drive the price up a bit, assuming things go according to plan.
This is due to the fact that Terra uses two assets, which is good for UST and LUNA.
UST leverages a second token known as LUNA to hold a value nearly equal to that of the US dollar.
LUNA is minted when demand for UST is low and burned when demand increases. That being said, the Columbus-5 update comprises some technological changes to Terra.
There is also an upcoming Wormhole bridge intended to connect Terra and the Solana network, making the UST stablecoin usable within the SOL ecosystem.
Should you invest in Terra (LUNA)?
On October 1, Terra (LUNA) was worth $ 37.66.
To get an indication of how exactly this token has risen in value and what kind of potential it has for future growth, we’ll go over its all-time highest value, as well as its performance in September.
Looking at its highest value point in September, it was achieved on September 11 when the token reached a value of $ 43.82. This price was the new highest ever value of the token.
That said, its lowest point was on September 21, when the token reached a low value of $ 25.
Here, we can see that from its all-time high until September 21, the token’s value fell by $ 18.82 or 75%.
That said, from its value on September 21 to its value on October 1, the token’s value increased by $ 12.66 or 50%.
At this rate, the token has the potential to increase to $ 54.60 in value by the end of October, making it a worthwhile investment.
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