Terra (LUNA) Grabbing the Attention of Cryptocurrency Space With Revolutionary Move

Reportedly, Terra founder Do Kwon hinting at a future purchase of $3 billion worth in bitcoin to supply the reserves of the protocol in a recent Twitter Space was shared with bitcoin enthusiast Udi Wertheimer. Further, Do Kwon explained the new mechanics which the Terra ecosystem is introducing to use bitcoin as collateral for its flagship decentralized stablecoin – UST.

Bitcoin News: 

1. Terra’s Founder Do Kwon “Looks forward to building with Bitcoin” – Project reportedly acquires $125M in BTC.
2. Terra Founder hints at $3 Billion BTC purchase, Explains new Bitcoin-linked Tokenomics.

This news has taken the cryptocurrency space by fire, because, this is something that Bitcoin Maxis were waiting for a long time.  UST as a stable coin having BTC in reserve means value gets measured in terms of BTC – which is something Bitcoin maxis have been waiting for a long time.  True BTC believers never wanted BTC to be measured in USD.  They wanted BTC to be the unit with which the value of assets would be gauged.  Believers think this is just the beginning. And, expectations are that several other tokens will follow suit – thus making it possible to measure value using BTC units.

CoinDesk:

1. Web 3 Gaming Platform on Terra blockchain Raises $25M in Token Sale.
2. Nansen Adds Terra for On-Chain analytics as Home of Luna Grows as DeFi Hub
3. How to stake LUNA on the Terra Protocol

Analytics Insight: 

1. Top Trending Cryptocurrencies to Buy: Seesaw (SSW), Terra (LUNA), and Solana (SOL) All High Demand for Investors.
2. Terra, Cosmos, Avalanche, Polkadot, and EvergrowCoin-Altcoins Lead the crypto surge in March 2022
3. Top 3 tokens to invest in: Ripple (XRP)
4. Fantom and Terra Price Plummet, Here’s why Bitgert Taking Over
5. Terra Could emerge as the biggest crypto gainer of 2022

Decrypt:  Terra is now DeFi’s Network of Choice after Ethereum.

NewsBTC:  Terra (LUNA) Surpasses Ethereum Becoming Second most Staked Asset

Cointelegraph: 

1. Terra may be about to repeat $125M BTC buy that sparked Bitcoin’s run to $43.3K
2. Terra Price Signal that preceded an 80% Luna Rally is Back

Further,  a wallet thought to belong to Terra; however, not officially confirmed to be under its control sent another 125 million Tether (USDT) to Binance on March 23. This event is expected to chase BTC price to a weekly high.

Take Away Summary:  Terra (LUNA) in the Limelight Powered by Bitcoin Story – for how long?