Terra LUNA 2.0 community organizes millions of dollars of funding for developer ecosystem
- Terra LUNA 2.0 community has self-organized funding for developers in the ecosystem.
- Wormhole, a decentralized, universal message-passing protocol organized vote to deploy support for Terra 2.0.
- Analysts believe Terra LUNA 2.0 price could resume its uptrend and climb to the $3 level.
The Terra LUNA 2.0 community is keen on funding developers in the ecosystem to power the development of projects in the ecosystem. Wormhole, the protocol that allows different blockchains to communicate with each other has welcomed Terra 2.0.
Terra LUNA 2.0 developers receive funds from the developer ecosystem
According to experts in the Terra LUNA community, members have self-organized millions of dollars in funding to support projects in the ecosystem. The Terra ecosystem, the new Terra chain has been welcomed by several protocols.
After leading cryptocurrency exchanges listed LUNA 2.0 token (LUNA), the token of the new Terra chain is supported by several protocols. Wormhole voted to partner with the Terra network. Wormhole announced that guardians have voted to deploy support for Terra LUNA 2.0 next week.
Community Update
— Wormhole (@wormholecrypto) June 16, 2022
The guardians have voted to deploy support for Terra 2.0 coming next week.
While the community criticized the Terra blockchain, the new chain has a $600 million community pool. The pool of new LUNA 2.0 is illiquid and funding is controlled by the community.
@lurkaroundfind, an analyst at Orbital Command believes Terra is uniquely decentralized and shared his views on the new Terra chain.
1/9 This month, @Terra_Money 2.0 community self-organized millions of dollars of funding for dozens of developer teams.
— Terra Watcher (@lurkaroundfind) June 25, 2022
Doesn't seem like a dead project to me.
Terra has a lot more potential than most people realize.
Realistic optimism
LUNA 2.0 price could resume uptrend
Analysts at FXStreet evaluated the LUNA price chart and noted that the token of the new Terra chain continued to struggle as the bears forced rejection at $2. However, Terra LUNA 2.0 has bullish potential and accumulation by holders ensures that the token could return to the $3 level.
LUNA-USDT price chart
FXStreet analysts believe LUNA has entered a new uptrend. For more information, watch this video:
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
