[Promoted] Why LUNA returned 14,700% in 2021
But there’s another cryptocurrency that has outperformed them all and you may only be hearing its name for the first time now.LUNA is the native cryptocurrency on the Terra network and in 2021 was the top-performing cryptocurrency.
For those who have never heard about LUNA, it might come as a surprise that it returned over +14,700% last year.Cryptocurrencies are constantly searching for solutions to traditional markets and building on what their predecessors created. With each new addition to the crypto space, more opportunities open up.
Bitcoin was created to be an electronic cash system but instead became a digital version of gold. Ethereum wanted to improve on what Bitcoin could do by offering smart contract functionality on its blockchain. Simply put, smart contracts enabled people to build applications on top of Ethereum. This led to it becoming a $300Bn asset.So what is setting LUNA apart and why did it see so much investment in 2021?Firstly, it’s important to understand that Terra is the name of the blockchain network that powers global payments. The Terra Network has a native cryptocurrency token called LUNA.
The Terra blockchain can handle over >10,000 transactions per second at near-zero cost, even on weekends. Visa, which processes 1,700 transactions per second, only transacts on weekdays and costs over 100x more.Even though Terra is still relatively new, it has amassed billions of dollars worth of value. Terra’s payment system has 2 million users and, according to Terra’s website, processes more than $1Bn in transactions each year.
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