The CEO of the Pantera Capital firm shared his stance on the Terra (LUNA) and appreciated the coin as a promising coin for the holders.
Terra Labs’ Terra project is a better crypto project in the crypto industry. And the price of its native token Luna surged by around 13,838% in the last year. Right now Luna stands at 9th rank in this crypto industry by market cap trade volume.
Dan Morehead, CEO of Pantera Capital, appeared in an interview with CNBC’s “Crypto Night in America. In the interview, the CEO explained how Luna is a better coin for the holder.
According to Dan, Luna is very promising and people are searching about and also trading it. Dan also noted that Terra is getting better adoption support in the gaming industry of South Korea with its stablecoin UST.
(Terra) is beginning to gain traction in the South Korean gaming market and that’s one of the leading markets for gaming in the world and so it’s starting to broaden out from stablecoins to do much more interesting things.”
On the other hand, Dan said that Polkadot and other decentralized projects are not much better because these involve many risk factors and it cannot be a hot project for the upcoming years.
Bitwise Exec & CNBC’ expert on Terra
Recently a conversation took place between the expert of CNBC and Bitwise Executive. Through the whole discussion session, both the experts noted two factors that can ruin the Terra’ Luna holders.
The first issue figured out was the action of the US SEC agency against Stablecoins company. The expert noted that if US lawmakers introduce some kind of action on the Stablecoins then there are chances that it may end up into a huge problem for its Luna because both of these are dependent on each other.
Secondly, experts noted that the SEC is investigating Terra, whether it is involved with the Synthetic asset project Mirror Protocol or not. So they tried to hint that If in any situation Terra found to involve in the Mirror Protocol and selling unregistered securities than it may face issues like San Francisco based company Ripple.