Terra (LUNA), an eponymous high-performance blockchain core native asset, enjoys the backing of another VC heavyweight
- Terra still looks sexy to Dan Morehead
- Are we still ahead?
Dan Morehead, CEO of global blockchain-focused venture capital giant Pantera Capital, sat down with CNBC’s Melissa Lee on the latest episode of Crypto Night in America to discuss her altcoins ‘gems’ for 2022.
Terra still looks sexy to Dan Morehead
Mr Morehead named Terra (LUNA) one of his top picks for next year. In large part, he’s bullish on Terra because of the potential of his smart contract hosting platform.
– Jason Wang (@ jwang815) December 29, 2021
Additionally, Terra (LUNA) has released an advanced algorithmic UST stablecoin. Its peg to the price of the US dollar is guaranteed by a sophisticated self-governance mechanism, which makes it superior to “traditional” centralized stablecoins like the USDT or the USDC.
Ms. Lee noted that Terra’s (LUNA) market capitalization has climbed 15,000% in the past 12 months. Its stablecoin, UST, is also seeing its capitalization increase by several thousand percent.
At the same time, as previously covered by U.Today, speakers at CNBC Make It conceded that investors in Terra (LUNA) should be aware of the associated risks due to regulatory pressure and possible issues with valuation of UST.
Are we still ahead?
Despite a splendid rally in 2021, Terra (LUNA) still has room for growth, says Morehead. This should be attributed to the growing activity of developers and community enthusiasts interested in building on Terra (LUNA).
The protocol’s capitalization is still only 7% of that of Ethereum (ETH), the world’s leading smart contract platform, and significantly lower than Solana’s market capitalization.
As reported by U.Today, Bitcoin (BTC) bull Mike Novogratz, CEO of cryptocurrency bank Galaxy Digital, is very bullish on Terra and Solana in the medium term.