LUNA was set to be worth $390 by the end of 2025 and a whopping $997 by the end of 2030, according to the panel average.However, a number of panellists pointed to LUNA’s vulnerabilities, foreshadowing its price drop.
Head of Funds at DigitalX Asset Management Matthew Harry, who thought LUNA would be worth $160 at the end of the year, said it’s hard to tell what impact the Terra (LUNA) project will have on the token’s price.
“Algorithmic stablecoins are considered as being inherently fragile and are not stable at all. In my opinion LUNA will be existing in a state of perpetual vulnerability.”
Rouge International managing director Desmond Marshall expected LUNA to “fall flat very soon” due to “lack of overall functional support”. He’s also part of the 40% who don’t think Terra will ever become the most staked asset.
Just under a quarter of the panel (24%) think Terra will eventually become the most staked asset and 36% are unsure.
The panel was also divided on whether Terra’s UST swap mechanism is an advantage over other stablecoins. 55% think it is an advantage, 5% a disadvantage and the remaining 41%, including Founder and Chairman of CoinFlip Daniel Polotsky, neither.
“…Its algorithmic stablecoin is a very interesting concept because it makes UST independent from the centralized financial system (no need to store dollars in the bank to mint stablecoins), but it also is unclear if it will lose its peg during very extreme market crashes,” Polotsky said.
Managing Director at Digital Capital Management Ben Ritchie suggested LUNA will continue to gain traction as long as there are no clear regulations in stablecoins.
“We believe that Luna and UST will have an advantage and be adopted as a major stablecoin across the crypto space. Luna is burnt to mint a UST, so if the adoption of UST grows, the Luna will benefit greatly. Having Bitcoin as a reserve asset is a great decision by the Terra governance.”
You can find the full report here: https://www.finder.com/ng/terra-price-prediction
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