- Terra (LUNA) reached a new high above $45.
- Since the low of $5.61 in July, it has gone 720% higher.
- This came after the launch of Project Dawn and the upcoming mainnet upgrade news.
Following the launch of ‘Project Dawn’ and the upcoming Columbus-5 mainnet upgrade, Terra (LUNA) reached a new high above $45. LUNA, a blockchain protocol that specializes in global payment systems powered by UST stablecoin, rallied to a new all-time high.
Terra’s journey began in January 2018. Its mainnet launched in April 2019. By September 2020, Terra brought stablecoins pegged to the U.S. Dollar, South Korean Won, Mongolian Tugrik, as well as the International Monetary Fund’s basket of currencies.
Data from Tradingview shows that since reaching the $5.61 dip in mid-July, the price of LUNA is 720% higher and hit $45 this September 10, 2021. More so, its MACD also shows a bullish signal, which indicates the emergence of an upward trend.
Looking at Terra’s Twitter page, the surge in price came after the news about ‘Project Dawn’. This project is a new funding initiative for the Terra ecosystem to help improve critical infrastructure. To add on, it will also accelerate the growth of the ecosystem.
On another note, its Columbus-5 mainnet upgrade is launching on September 29. Accordingly, a Twitter thread explained the content of Columbus-5.
3/ For some context, the Columbus-5 mainnet upgrade is massive.
Behind the scenes, numerous moving parts require attentive and thorough examination from multiple perspectives + reviews between TFL, eco partners, the community, and projects dependent on Terra applications.
— Terra (UST) 🌍 Powered by LUNA 🌕 (@terra_money) September 1, 2021
Without a doubt, Terra is not the same as it was in January of this year. Tens of thousands of new stakeholders, community members, and builders have joined the ecosystem, and its Total Value Locked (TVL) has risen to $7.3 billion.