Following the Terra’s TerraUSD (UST) stablecoin misfortunes after it de-pegged from the US Dollar, the price of LUNA, which is Terra’s native token, has crashed from above $80 to about $0.023. The scandal surrounding UST sent shock waves through the crypto market, and more specifically the algorithmic stablecoins.

Do Kwon, co-founder of Terraform Labs announced a “recovery strategy” in a series tweets. He stated that the company would seek outside funding and rebuild TerraUSD to ensure it is collateralized.

Today, in the evening, the Terra blockchain was officially halted at a block height of 7603700 to prevent governance attacks following severe LUNA token inflation and a significantly reduced cost of attack.

To help traders and investors who wish to take advantage the Terra (LUNA), dip by buying it at a low price, Coinjournal created a short article that will help them identify the best places to purchase it.

To learn more, please keep reading.

Best Terrains to Buy (LUNA )

eToro

eToro offers some of the best multi-asset trading platforms in the world, with the lowest fees and commission rates. Its social copy trading capabilities make it an excellent choice for beginners.

Buy LUNA today with eToro

Binance

Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

Get LUNA with Binance now

What’s LUNA?

LUNA, the native cryptocurrency of Terra’s blockchain is LUNA.

The Terra blockchain uses fiat pegged stablecoins in order to provide a stable global payment system. Terra uses the stability of Fiat currencies, and the decentralized nature Bitcoin (BTC), to provide fast and affordable settlements with stablecoins.

In addition to TerraUSD (UST), the native stablecoin of the United States, a variety of stablecoins pegged to the South Korean Won, the Mongolian tugrik and the International Monetary Fund Special Drawing Rights basket have been created and deployed with Terra blockchain

LUNA is used to stabilize the Terra stablecoins. LUNA holders are also able to vote on Terra governance proposals.

Should i buy the LUNA coins today?

If you’re looking for a cryptocurrency with a steep decline in value over the past few days then LUNA might be a good option.

While the coin offers a great chance if it recovers it is not yet clear how high the price of LUNA. The coin has been dropping by almost 100% every day in the past four days.

LUNA price prediction

There are concerns that the price for LUNA may drop below $0. 01 before attempting a comeback, which would require a lot of work from the team behind the project as they actualize the proposed “recovery plan.”

Terra social media coverage

Block production has been resumed by Terra Blockchain.

Delegations have been disabled since the new code merge has made the chain live.

Validators: Please check the Discord announcements to see the most recent patch notes. https://t.co/CGQgfMDWQe

— Terra (UST) Powered by LUNA (@terra_money) May 12, 2022

1/ The prevailing peg pressure on $UST from its current supply overhang is rendering severe dilution of $LUNA.

The primary problem is to get rid of the bad debts from UST circulation quickly enough to allow the system’s health to be restored.

— Terra (UST) Powered by LUNA (@terra_money) May 12, 2022