Could These Altcoins Go To Zero Like Terra (Luna)?
Terra (LUNA) is not the only one we should focus on. There are a few other protocols have some concerns off the back of everything that’s happened.
Cheeky Crypto, a Youtube Channel focused on cryptocurrency, has built some awareness to keep the community safe. Let’s check if altcoins linked to Terra could go to zero like this altcoin.
Anchor Protocol (ANC)
The first project that we should have some concerns about is Anchor Protocol (ANC). Anchor Protocol is a lending and borrowing protocol offering up to 19.5% yield on stablecoin deposits. Lenders can deposit their UST and earn attractive rates on their investments while benefiting from low volatility. Borrowers can turn their LUNA collateral into productive assets without giving up control.
This is the first one on the list because it is one of the most obvious ones with the links to Terra (LUNA). It is trading at $0.21, up 55%. This altcoin has recovered after dip days.
ANC Chart | Source: Coinmarketcap
The next one on the list is Synapse (SYN). Synapse powers integral blockchain activities such as asset transfers, swaps, and generalized messaging with cross-chain functionality – and in so doing enables new primitives based off of its cross-chain architecture.
It is changing hands at $1.54, down 14.8%. This is another project to really keep an eye on research it. It’s a swap protocol. They would have had pools of liquidity and stuff like that. So people shoul be aware of it.
SYN Chart | Source: Coinmarketcap
Mirror Protocol (MIR)
The next altcoin that have links to Terra is Mirror Protocol (MIR). Mirror is the governance token of Mirror Protocol, a synthetic assets protocol built by Terraform Labs (TFL) on the Terra blockchain.
MIR is trading at $0.31, up 28.2% and it would have had a lot of UST locked up on it. So this is the one to be mindful of and aware of.
MIR Chart | Source: Coinmarketcap
Mars Protocol (MARS)
The next protocol to be aware of is Mars Protocol (MARS). Mars is a fully automated, on-chain credit protocol built on Terra and governed by a decentralised community of users and developers.
MARS is changing hands at $0.13 and it has been up 323% at press time. MARS is having a huge recover after the dip and the collapse of LUNA.
MARS Chart | Source: Coinmarketcap
The next project that has linked to LUNA is Astroport (ASTRO). Astroport combines the best pieces of six years of development on the Ethereum blockchain and delivers it on Terra.
ASTRO is trading at $0.1 and it has been up 115%. This is also an another protocol to be acutely aware of.
ASTRO Chart | Source: Coinmarketcap
Pylon Protocol (MINE)
The next altcoin mentioned on the list is Pylon Protocol (MINE). Pylon Protocol is a DeFi framework for principal-protected, yield-based products and services. Built on the Terra blockchain, Pylon introduces a new mechanism for long-term incentive alignment between users and service providers where payment is rendered via cash flow rather than upfront expenditure.
MINE is changing hands at $0.002, which is down 3%. This altcoin has pulled back massively.
MINE Chart | Source: Coinmarketcap
Spectrum Token (SPEC)
The last one on the list is Spectrum Token (SPEC). This is the first and innovative yield optimizer on Terra Ecosystem, auto-compound and auto-stake your Terra LPs and single tokens rewards.
SPEC is trading at $0.57, up 364% at press time. This is just another protocol to to be aware of.
SPEC Chart | Source: Coinmarketcap
- GAM Investments Dispels Rumors They Will Invest $3 Billion To Help LUNA/ST Recovery Efforts
- Do Kwon Has Introduced His Plan To Revive The Embattled Cryptocurrency Project
- CEO Terra Do Kwon’s Wife Has Sought Police Protection After An Unexpected Visit