Just recently, the product comparison platform finder․com polled 36 fintech specialists about the cryptocurrency terra (LUNA) before terrausd (UST) lost its parity with the U.S. dollar. According to the poll, Finder’s experts predicted LUNA would be $143 before the end of the year. Currently, LUNA’s value is far lower than a US penny. It has increased more than 23,000% since its all-time low. To reach $143, LUNA must jump 58.331,533%.
Finder’s Poll Recorded Before the Collapse Shows Fintech Experts Thought Terra’s LUNA Had Potential, While Others Remained Skeptical
Many people believed that Terra was a good project before LUNA/UST crashed. The product comparison platform finder․com’s recent terra (LUNA) Price Predictions Report, highlights this fact. Finder’s researchers have conducted numerous polls with dozens crypto and fintech specialists about crypto assets such as XRP and ETH. Finder’s latest survey touches upon terra (LUNA) and the poll’s data stems from late March to early April 2022, weeks before Terra’s ecosystem imploded.
Matthew Harry, the head of funds at Digitalx Asset Management, thought LUNA would end up being around $160 per coin by the year’s end. After the fallout, Harry said: “There is a lot of uncertainty around LUNA right now – the project is really ambitious and the objective an admirable one but just what the effect on the LUNA token itself will be is unclear.” 40% of Finder’s panelists did not think LUNA would be the most staked asset.
Desmond Marshall, the managing director at Rouge International, expected Terra’s native token LUNA to “fall flat very soon.” Marshall insisted that it was due to the “lack of overall functional support.” Despite 40% thinking LUNA would not be the most staked asset, 24% of Finder’s panelists said it would become the most staked coin, while the rest of the fintech specialists were unsure.
Swinburne University of Technology Lecturer Says Algorithmic Stablecoins Are Considered ‘Inherently Fragile and Are Not Stable at All’
Dimitrios Salampasis is the director of Swinburne University of Technology and a lecturer. He says that algorithmic fiat-pegged tokens can be easily broken. “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,” Salampasis said. Digital Capital Management’s managing director Ben Ritchie believed that LUNA would grow as long as there was no regulatory oversight on stablecoins.
“We believe that LUNA and UST will have an advantage and be adopted as a major stablecoin across the crypto space,” Ritchie said in the poll taken before the Terra fiasco. “LUNA is burnt to mint a UST, so if the adoption of UST grows, LUNA will benefit greatly. Having bitcoin as a reserve asset is a great decision by the Terra governance,” the fintech specialist added.
In addition to the bullish commentary, the panel average indicates people predicted lofty prices for LUNA before the UST tumble and LUNA’s value plummeting to zero. Before the Terra collapse, the panel expected LUNA to be at $390 in 2025 and $997 in 2030. LUNA is unlikely to reach $143 per unit in 2022, based on the current state of affairs.
What do you think about Finder’s poll taken before the Terra collapse? Please comment below to let us know your thoughts on this topic.
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