The resilience of LUNA has been amazing. It was the only green in a sea of red. It is being driven by the massive demand for UST, which reduces the supply of LUNA constantly.
I am not a fan at all of them doing a private sale to yet more VCs however, that is Terra's biggest weakness, it is becoming a more and more corporate coin sadly, and it is still very centralized.
All those who believe in the mint & burn algorithmic stablecoin model should also be buying Haven Protocol as well (XHV). Not only does it use the exact same model as LUNA, but there is speculation that Terra actually got their idea from Haven Protocol, as they both launched in the same month. XHV also has one huge added benefit: their roster of stablecoins are the first ever PRIVATE stablecoins (called "xAssets"), and are secured by Monero privacy tech. If people really believe in the LUNA model, then they should be supporting Haven too, as it represents another huge leap forward with native L1 privacy. Finally you can use stablecoins without any random stranger being able to see your wallet balance or transaction history! And XHV is under $80 million market cap, it has a great deal of room to grow. 2022 will be the year of brand new emerging tech like private stablecoins + private smart contracts with chains like Secret Network. SCRT is also in the Cosmos ecosystem, just like LUNA.
LUNA + XHV are the future of stablecoins. SCRT is the future of private stablecoins.
Posted Using LeoFinance Beta