The crypto market is a rapidly expanding industry, exemplified by its impressive total market capitalization of $1.3 trillion. As an increasing number of individuals join the crypto boom, the question arises: How can one begin their journey in the world of crypto? This blog addresses this query concisely and provides valuable guidance on getting started in the crypto space.
Newcomers to the world of crypto investing often face the challenge of selecting the most suitable cryptocurrency for their initial ventures. In this blog, we shed light on Terra Classic (LUNC), the exceptionally successful crypto asset of the week, which holds great potential for new investors seeking valuable opportunities. Gain insights into why Terra Classic might be a beneficial choice for beginners.
What is Terra Classic (LUNC) and how did it grow?
Terra is a blockchain protocol that leverages stablecoins to enhance the performance and stability of its network. Stable cryptocurrencies, as the name suggests, are coins designed to maintain a stable value by being linked to another asset. This linkage helps to mitigate price volatility, providing a more predictable and reliable digital currency experience.
The development of Terra's blockchain commenced in January 2018 and was officially launched approximately a year later, in April 2019.
Terra Classic represents an upgraded iteration of the well-known Terra Luna. This update goes beyond a mere name change, encompassing significant technological advancements. Notably, the stablecoins on the Terra Classic blockchain are directly linked to a fiat asset, such as the USD ($).
There is a theory that the name "Classic" is related to the Ethereum split in 2017, which resulted in "Ethereum Classic".
The price of Terra Classic is $0.0001011 as of today and the crypto asset is up 15.39% in one week.
According to crypto experts, the surge in Terra Classic's price can be attributed to the anticipated v2.1.0 update. This upcoming update is expected to enhance the security of the blockchain significantly and further accelerate transaction speeds.
The update is expected to launch on June 14.
Honorary Mention: What was the growth of The Sandbox (SAND)?
The Sandbox is a virtual reality space built on blockchain technology, specifically categorized as one of the types of metaverse. Within this virtual environment, users have the ability to engage in various transactions and purchase virtual assets using the native cryptocurrency known as "The Sandbox."
Within a span of just one week, the price of The Sandbox experienced a notable 11.5% increase. During this period, the price of the crypto asset rose to $0.6.
In today's world, the Metaverse is witnessing a steady rise in the number of individuals actively participating within its immersive realm. This growing community contributes to the increasing value and demand for all assets associated with the Metaverse, consequently driving up the price of assets such as The Sandbox. As more people recognize the potential and possibilities offered by the Metaverse, the demand for virtual assets within platforms like The Sandbox continues to grow, resulting in heightened value and a positive market outlook.
During the past seven days, a significant rally has impacted various assets in the crypto world, with positive momentum continuing to prevail. Crypto investors eagerly anticipate favourable developments in the upcoming weeks and are closely monitoring the anticipated update of Terra Classic.
Wish you successful Trading!