|Founder||Kwon Do-hyung||Emin Gün Sirer|
|Blockchain Protocol||proof-of-stake consensus||proof-of-stake consensus|
|Token Type||Payments||Utility, Payments.|
|Circulating Supply||127,475,474.31 LUNA||284,359,498.38 AVAX|
|Consensus Method||Proof of Stake||Proof of Stake|
MarketCap* and Circulation Supply** as of August 2022
Additional Read: Terra Luna Crash Explained
What is Terra (LUNA)?
Terra is a blockchain protocol using fiat-pegged stablecoins to empower stable global payment systems. Terra is a unique combination of price stability and wide adoption of fiat currencies offering affordable and fast settlements.
The native token of the Terra network is the LUNA coin. It is used to stabilize the protocol’s stablecoin prices. The holders of the LUNA coin are also eligible to submit and vote on the governance proposals thus, it also acts as the governance token for the network. The stablecoins pegged to the Terra network are South Korean Won, US Dollar, Mongolian tugrik, and the IMF’s special drawing rights basket of currencies. The developers intend to launch additional options too.
After the depegging fiasco that happened in early May 2022, the devalued LUNA token was rebranded to LUNC and a new token was airdropped to all the holders of the old Terra token as a compensation, which was named as LUNA. Hence the new token is called LUNA while the older faulty one, linked to the depegged algorithmic stablecoin UST is now named LUNC.
Additional Read: Terra LUNA Airdrop
What is Avax?
Avalanche is a layer 1 blockchain protocol that behaves as a platform for decentralized applications (DApps) as well as custom blockchain networks. The main competitor of the avalanche cryptocurrency is Ethereum. The native token of the avalanche blockchain system is AVAX. The primary goal of this blockchain protocol is to dethrone Ethereum from the seat of the most popular blockchain for smart contracts.
The advantage of AVAX over Ethereum is its high transaction output without any compromise with its scalability. It can process up to 6500 transactions every second without affecting its scalability. The unique architecture of Avalanche makes it possible. There are three different and individual blockchains each having a distinct purpose. The X-chain, P-chain, and C-chain have distinct use-cases as well as different consensus mechanisms based on their use cases.
Avalanche has been working on developing its DApps and DeFi ecosystem after its mainnet launch in 2020. Some of the projects that have integrated with Avalanche are TrueUSD and SushiSwap.
PROS AND CONS OF AVAX Vs LUNA Coin
|The unique features of the AVAX token are: The purpose of Avalanche is to resolve the blockchain trilemma.||LUNA the rebranded version of the crashed LUNC token has been created to help recover the losses of investors and also an attempt to bring the crypto project on the map.|
|It has three different blockchains to enhance transaction speed without compromising scalability.||It combines the borderless benefits of crypto with the price stability of fiat currencies.|
|The modular structure has helped avalanche improve the interoperability with the other blockchains that wish to integrate with the Avalanche ecosystem.||It has established numerous partnerships with payments platforms especially in the Asia-Pacific region.|
|Malicious Validator Activity Is Not reprimanded making the blockchain security weak.||The LUNA crash has caused fear, doubt and anxiety in the Terra community.|
|Avalanche is a token above $10. Investors with a small risk appetite may not be able to purchase a full token.||The new LUNA recovery project has not been able to gain lucrative value.|
|It’s Expensive To Become An Avalanche Validator. To become a validator an individual must have 2000 AVAX holdings. Which roughly comes to INR 39,400,00.|
LUNA Coin Price Prediction: How high will LUNA go in 2023?
The LUNA price may begin the 2023 trade above INR 1300 levels and materialize a significant upswing ahead. The minimum levels to maintain the uptrend could be around INR 1800, which may be secured in the first half of 2023. With an extended rally, the prices may also reach above INR 2000 too.
Reaching the levels above INR 2000, the asset may face a bearish pullback below these levels for a short time. However, a quick flip could range high and secure the levels above INR 2200 at the earliest and head towards INR 2500 by the end of Q3. Later the asset may continue its roller-coaster ride that includes a couple of jumps and pullbacks and settles around INR 2700 by the end.
Additional Read: LUNA Price Prediction
AVAX Price Prediction: How high will AVAX go in 2023?
2023 may see a flipping of this crucial 0.383 Fibonacci Retracement level coinciding with the 200-day moving average. Tentatively, a breakout over $70 (~INR 5500) would result in a massive upside that could possibly push prices to its previous all-time highs.
The next target would be 0.682 Fib, or around $100 (~INR 7800). Now, this would be a crucial level of supply to breach since it forms the psychological resistance level of $100. Prices tend to accumulate in a zone such as this, and could also see some profit booking corrections playing out before a continuation of the rally by the end of the year.
Additional Read: AVAX Price Prediction
How to invest in Avalanche (AVAX) and Terra (LUNA) Cryptos
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