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The price of Terra (LUNA) hiked over the weekend after millions of LUNA tokens were burnt through an address shared by Do Kwon, the TerraForm Labs founder.

LUNA had started rising on Saturday after Do Kwon shared the ‘burning’ address and it continued rising to today morning before it retraced to trade at its current price of about $0.00018. It had shot above $0.00020 on Sunday before slightly pulling back and then shooting back above $0.00023 on Monday morning.

Although Do Kwon later said via a tweet that he was not for LUNA token burning, the recent price surge could be an indicator that investors are yearning for the token to start rising and it could just be a matter of time before is catapults.

To help investors and traders who want to take advantage of the current Terra (LUNA) dip by purchasing it at its current low price, Invezz has created a brief article to help with identifying the best places to buy it.

To find out more, please continue reading.

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LUNA is the native cryptocurrency of the Terra blockchain.

The Terra blockchain uses fiat-pegged stablecoins to power a stable global payment system. In a nutshell, Terra leverages the stability of Fiat currencies and the decentralized nature of Bitcoin (BTC) to offer fast affordable settlements using stablecoins.

Besides its recently released native stablecoin, TerraUSD (UST), a number of other stablecoins pegged on the US Dollar, the South Korean Won, the Mongolian tugrik, and the International Monetary Fund’s Special Drawing Rights basket of currencies have been developed and deployed using Terra blockchain

Besides LUNA being used as a stabilizer of the various stablecoins developed via Terra, LUNA holders can also vote on Terra governance proposals.

LUNA could be a good choice if you are looking for a cryptocurrency that has taken a massive dive over the past two weeks but has started signs of bouncing back.

Despite TerraForm Labs offering a ‘Recovery Plan’ for Terra, it is still not clear if the price of Terra will bounce back above $1 especially since there is a proposal by Do Kwon to ‘hard fork’ Terra and its native coin $LUNA.

The majority believe that Terra (LUNA) has hit its bottom and will not dip further. Investors are waiting in bated breath for the price to start rising.

With its current price hike, most expect the count to jump above $0.005 by the end of this week even as Terra is expected to go ahead with the ‘hard fork’ process.

1/ Prop 1299 to (re)enable IBC has passed but did not successfully execute due to technical issues. Namely, the proposal attempted to enable IBC transfers which were already enabled 🧵. pic.twitter.com/mCgZyxu7O2

2/ During $UST’s depeg, IBC channels were closed (but not disabled) as a stop-gap measure to prevent impermanent loss being incurred on $UST & $LUNA pools on @osmosiszone & other IBC DEXs. As a result, users were then unable to transfer these assets across IBC chains.

The post Here are the best places to buy Terra (LUNA): it jumped by over 50% over the weekend appeared first on Invezz.

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