Terra (LUNA): The cryptocurrency ecosystem to follow for 2022

2022 year tera? – Terra’s Anchor Crypto Protocol (LUNA) made a huge impression, raising $4 billion from TVL in 6 months. But this appears to be only the beginning. In fact, more than 160 projects will be launched on Terra in early 2022. IBC and Wormhole are preparing to boost their blockchain use cases, while new projects are set to launch there.

160 projects on TERRA in 2022

Terraform factorThe South Korean company behind the Terra blockchain project (LUNA) continues to focus on boosting developer activity on the network and appears to be accelerating the move.

In the meantime, the real effect of network update is dubbed “Columbus 5”, has not yet been revealed. However, we are about to launch the protocol Inter-blockchain communication (IBC) and bridge support wormy for terra.

Update Columbus 5, which rocks the Terra Ecosystem (LUNA)It was successfully launched at the end of September. According to the network developers, Terra’s ecosystem is about to experience a explosive growth.

“The Terra ecosystem’s sprint run through the end of the year will be a sight to behold.
As a bonus – IBC and Wormhole will be launching next week. »

Share Tera on Twitter

Tera Publishing – Source: Twitter

“Now that Columbus 5 is live, more than 60 projects are preparing to launch in the next 6-8 weeks, and more than 100 have recently announced their plans for later this year or early 2022.”

Do Kwon, co-founder and CEO of Terraform Labs

During his interview, Kwon explained how the upgrade, which opened up countless ways to expand the ecosystem, is about to begin. Stimulating Use Cases For the stablecoin Terra, the TerraUSD (UST).

“More projects on Terra are diversifying and increasing demand for terrestrial reservoirs, accelerating the expansion of the stablecoin supply and increasing value for LUNA holders.”

Do Kwon

>> Play it safe, register with the FTX Crypto Exchange Reference <

UST Stablecoin: On the Way to the Stars

Terra’s original stablecoin,USTis currently Fifth largest stablecoin In terms of market value.

“Regulatory action against centralized stablecoins, such as USD Coin (USDC) and Tether (USDT), has revitalized the focus on a decentralized crypto stablecoin, such as UST. (…) As stablecoin models do not scale well and act as a risk hub. In a decentralized funding pile, we anticipate increased adoption of decentralized stablecoins in the coming months and years.”

Do Kwon

Do Kwon’s video on decentralization, regulation and the future of Terra – Source: YouTube

IBC and Wormhole join the adventure of Terra

Protocol Integration Inter-blockchain communication (IBC) Terra should open up to countless dApps in the ecosystem Cosmos (Atom)while allowing UST to switch between strings it’s clear.

The IBC allows sovereign chains to communicate and communicate with each other, enabling the transfer of tokens between Cosmos and other blockchains Compatible with IBC.

Likewise, a wormhole is a bridge cross chain to Solana (SOL), Ethereum (ETH) and Binance Smart Chain (BSC), allowing Terra assets like UST to be seamlessly transferred to some of the largest chains by TVL and users of the entire industry. »

Do Kwon

In addition, this bridge should so far Reducing friction For UST, moving from one blockchain to another.

“We anticipate the demand for floor tanks in environments cross chain It is accelerating the pace of expansion of its underfloor tank offerings, and is likely to reach $10 billion in market capitalization by the end of the year. »

Do Kwon

Although Do Kwon is very reassuring about Terra’s ambitious prospects, LUNA is back at $35. The LUNA technical analysis we gave you a month ago is still relevant.

Whether you are addicted to TERRA, a fan of Bitcoin against all odds or your heart is racing for Ethereum, search for all the Marketcap star cryptocurrencies on FTX, the benchmark crypto platform. Register now on FTX And benefit from a lifetime discount on your trading fees (affiliate link, see terms and conditions on the official website)

Leave a Reply

Your email address will not be published.