Terra (LUNA), which was once facing massive resistance in the crypto market space, has managed to earn the trust of traders with the passage of time. It has also proved to be a bankable cryptocurrency for both traders and long term holders as it has managed to touch new highs even during the Bitcoin Crash in 2021 and January 2022.
Despite market fluctuations, this crypto token has been working upwards only and remained in the top 10 cryptocurrencies. Terra LUNA is up by over +850.9% in the last 365-trading days displaying bullish sentiments. The steadiness of this crypto token is now changing the perceptions of crypto analysts and experts.
Recently, the co-founder of Dexterity Capital, Michael Safai, shared that he is bullish about Terra and predicts that it has the capacity to overtake Ethereum (ETH) in the crypto space in the long run.
According to Safai, Terra is aggressive enough to challenge Ethereum and become an ETH contender. However, he stopped short of saying that LUNA will eventually overtake Ethereum's price in future. "I think that all ones that make the most noise are the ones that attract the best user base and the best community," he was quoted as saying by Business Insider.
Other than Safai, many other crypto experts believe that Terra (LUNA) token could be a dominant force in the crypto market space in the long run.
Last week, Dutch cryptocurrency millionaire Etienne VantKruys also predicted that Terra has a potential to breach the $500 price mark in the upcoming five years. "My idea is Luna is going to be $500 in five years. That's the horizon we're playing with," said VantKruys, who had invested $25,000 to buy Terra LUNA when its price was less than a dollar in the indices.
Moreover, recent DefiLlama data reveals that Terra sustains its position of second-biggest smart contract platform. It has $14.59 billion worth of total value locked while Ethereum (ETH) remains the top DeFi player with a whopping $124.6 billion worth of value locked according to the recent data.
Terra (LUNA) price
At the time pf publishing, Terra (LUNA) was trading at $55.70 down by -0.35% in a day's trade with a market cap of $22,352,933,231, according to CoinMarketCap. Ranked #9, crypto token Terra is available for trading on some of the best cryptocurrency exchanges such as Binance, OKX, LBank, Bybit and Bitget.