Terra (LUNA) is up +861.9% in the last 365-trading days and mostly displayed bullish sentiments throughout the year. Even during the Bitcoin crash in May 2021 and January 2022, Terra dusted itself from the ashes and touched new weekly highs. It also remained steady as a rock under the top 10 cryptocurrencies and maintained its position despite market fluctuations. Terra proved to be bankable crypto for both day-traders and long-term holders. Michael Safai, the co-founder of Dexterity Capital is bullish on Terra and predicted that it is a serious contender to Ethereum (ETH).
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Safai revealed that Terra is aggressive enough to be a contender for Ethereum and could emerge to be ETH’s challenger. However, he stopped short of saying that LUNA will eventually overtake ETH’s price in the long run. ”I think that all ones that make the most noise are the ones that attract the best user base and the best community,” he said to Business Insider.
Terra (LUNA) & Ethereum: Long Term Goldmines
Not just Michael Safai, many other industry experts are bullish on Terra and believe it could be a dominant force in the future. Dutch cryptocurrency millionaire Etienne vantKruys, predicted last week that Terra will breach the $500 mark in the next five years.
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”My idea is Luna is going to be $500 in five years. That’s the horizon we’re playing with,” said vantKruys. He also confirmed to the New York Times that he would continue holding Terra until the milestone is reached. VantKruys seems to be confident that Terra will hit the $500 mark suggesting its current price is low-hanging fruit.
VantKruys had purchased $25,000 worth of LUNA when it was trading at less than a dollar in the indices. However, now that Terra is trading at $55, he sold a portion of his profits to buy a new house for his partner. He still holds a large portion of Terra and will hold it for the longer-term goal of $500.
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Moreover, recent data released by DefiLlama sheds light that Terra remains the second-biggest smart contract platform. The data also shows that it has $14.59 billion worth of total value locked. On the other hand, Ethereum remains the top DeFi player with $124.6 billion worth of value locked.
At press time, Terra was trading at $55.83 and is down -4.56% in the 24-hours day trade. Ethereum is trading at $3,103 and is down -2.71% in the day’s trade.