59. LUNA Price Action

While they're are many factors causing the price of LUNA to skyrocket, I will focus on three in this dashboard, the first of which is the appealing nature of Terra stablecoins. The stablecoins in the Terra system entice users to invest in cryptocurrency who otherwise may not have, as they entail less risk than other cryptocurrency assets and are pegged to a currency that the user is familiar with. This in turn drives up growth of the LUNA price as an untapped market of people who are wary of the volatility of cryptocurrencies invest in UST and other stablecoins. Another factor is the growing popularity of the Anchor protocol, which currently has a very attractive interest rate of 20%. It now allows users to use ETH as collateral for loans which makes it even more appealing. One final reason the price of Terra is increasing so substantially is that the most anticipated update to Terra thus far, the Columbus-5 update, is coming soon. This update will burn all remaining funds in the community pool, and burn all future seigniorage, which should drive up the price of LUNA. In addition, it will create the new Ozone protocol.