- 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:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?