Guy, host of the Coin Bureau Youtube channel, which has 1.9 million subscribers, says that an altcoin, one of the top ten Ethereum (ETH) competitors, can rise up to three times its current price. As Kriptokoin.com, we are reporting the altcoin project that Guy drew attention to…
Coin Bureau believes this altcoin project will rise
In a new YouTube video, Guy says the algorithmic decentralized stablecoin platform Terra (LUNA) could rise as much as 284 percent. According to Guy, the rally will primarily be driven by the popularity of Terra’s USD-pegged stablecoin, TerraUSD (UST). Guy uses the following expressions:
The only thing really holding LUNA back is its massive market cap. But the availability and popularity of the UST means it could manage to upgrade the LUNA 2-3 times higher, with a price tag of between $150 and $200. Also, Luna tends to rise when the crypto market crashes, which is probably due to the increased demand for UST, which is now available on almost all blockchains and is traded on most major exchanges. LUNA’s price action is driven by demand for UST.
What are the factors driving the demand in the Terra ecosystem?
Guy says one of the factors driving demand for UST is the decentralized nature of the stablecoin. He notes that UST has safe-haven status as a stablecoin, and this is cemented by UST’s ability to maintain its value during market downturns. This is not uncommon with decentralized stablecoins.
Terra’s decentralized applications (dApp) have actually been a driving force, providing primary demand for UST. The most prominent of these has been the Anchor Protocol, which has received praise from almost every smart contract crypto project. Less than a year ago there was only one DApp on Terra. Today there are more than 100. Another major demand factor for the UST has been regulatory concerns regarding centralized stablecoins in the United States, which has increased significantly since last September. As a result of these and other factors, almost 10 billion UST has been minted since September alone, according to the Coin Bureau.
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