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For some cryptocurrencies, it’s an arduous process to become a major player in the industry, while for some, it’s a rapid rise to the higher echelon of the crypto world.
While the journey is just beginning for Acrana (ACR), the likes of Terra (LUNA) and Dogecoin (DOGE) are established players in the crypto space, and we’ll take a look at their journey and whether the Acrana can reach the level, the cryptos above have hit.
Terra (LUNA)
Launched in 2018, Terra (LUNA) continuously demonstrates that they are one of the biggest cryptocurrency names.
Terra is a blockchain platform for algorithmic stablecoins that aims to reduce the endemic volatility of cryptocurrencies.
Developed by Terraform Labs, Terra is now the second biggest smart contract platform, behind only Ethereum, with a market cap of over USD 35 billion.
Alongside Terra’s native LUNA token, Terraform Labs also developed the Terra USD (UST) that through an algorithm, is pegged to the U.S. dollar.
In order to stabilise the crypto market, in an attempt to mint UST tokens, LUNA and a percentage of a digital token are burned with more LUNA being automatically burned and transferred to a community pool should the demand for more UST token arises.
LUNA has been one of the highest performing coins for the past year, rising by 923.7% in that time frame.
It’s been a successful return to normalcy for LUNA in the past couple of months, having dropped to $44.36 on the 31st of January and currently trading at $98.44, surging 21.7% in the past 24 hours.
Ventures into the metaverse and NFT market is what Terra is planning in 2022, following the launch of Terra World in 2021, which is a virtual world where users can do business in a digital environment.
Dogecoin (DOGE)
Arguably, the coin of 2021, Dogecoin (DOGE), is a meme coin founded in 2013 to mock the berserk speculation that surrounded the cryptocurrency market at the time.
Gaining over 3100% in 2021 was a remarkable feat for Dogecoin as they began the year trading at $0.005685 and reached a record high of $0.731578 in May 2021.
The coin now has a market cap of over $16 billion and is up by 3.1% in the past 24 hours following a period of price struggle, a struggle some analysts believe will continue.
Despite these gloomy predictions, Dogecoin co-creator Billy Markus recently announced the launch of MyDoge, a wallet for iOS users that can support transfers from any cryptocurrency exchange.
Acrana (ACR)
The Acrana project is a true testament to how far cryptocurrency has come in terms of its importance and influence.
With many falling out of trust with the current traditional financial setup, Acrana has a solution for those disillusioned.
By creating a global virtual currency backed by cryptocurrency rather than the US dollar, Acrana looks to promote the increasing popularity of decentralisation in the cryptocurrency market by allowing members to own the infrastructure they participate in.
Governed by a DAO (decentralised autonomous organisation), Acrana promotes transparency within its project and values the opinions of its members as decisions that concern the project will be made by the Acrana community.
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How will Acrana (ACR) fare compared to Shiba Inu (SHIB) and Cardano (ADA)? Vanguard
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Crypto Powerhouse?
For some cryptocurrencies, becoming a prominent player in the business is a long and difficult process, while for others, it is a quick ascent to the upper echelon of the crypto world.
While Acrana (ACR) is still in its early stages of development, established cryptos such as Terra (LUNA) and Dogecoin (DOGE) have already made significant progress, and we’ll examine their journeys to see if Acrana (ACR) can catch up.
Terra (LUNA)
Terra (LUNA) has been one of the best performing coins over the last 12 months, with a gain of 923.7 percent. Terra (LUNA), which launched in 2018, is the world’s seventh-largest cryptocurrency, according to CoinMarketCap data. Terra (LUNA) is a blockchain platform for algorithmic stablecoins with the goal of lowering cryptocurrency volatility.
Terra (LUNA), developed by Terraform Labs, is now the second-largest smart contract platform in the world, behind only Ethereum (ETH), with a market capitalisation of more than $35 billion.
Along with Terra’s native (LUNA) token, Terraform Labs has created the Terra (LUNA) U.S. dollar (UST) token, which is tied to the US dollar via an algorithm.
In an attempt to mint UST tokens to stabilise the crypto market, LUNA and a percentage of a digital token are burned, with more TERRA (LUNA) being automatically burned and transferred to a community pool as demand increases.
According to the most recent long-term forecast, Terra’s (LUNA) price is expected to reach $75 by the end of 2022 and then $100 by the middle of 2023.
Dogecoin (DOGE)
Dogecoin (DOGE) is one of the oldest cryptocurrencies, arguably the coin of 2021, is a meme coin. Having been founded in 2013 by Billy Markus and Jackson Palmer as a parody of Bitcoin (BTC), which was still in its infancy at the time.
Dogecoin (DOGE) made a stunning 3100 percent gain in 2021, starting the year at $0.005685 and reaching a peak of $0.731578 in May.
Following a time of price battle, the currency currently has a market valuation of over $16 billion and is up 3.1 percent in the last 24 hours, a struggle that some analysts anticipate will continue.
Despite these pessimistic forecasts, Billy Markus, the co-founder of Dogecoin (DOGE), recently announced the release of MyDoge, an iOS wallet that can accept transactions from any cryptocurrency exchange.
Acrana (ACR)
Acrana (ACR) project exemplifies how far cryptocurrency has progressed in terms of its significance and influence.
Many people are losing faith in the present traditional financial system, and Acrana (ACR) has a solution for them.
Acrana (ACR) aims to support the growing popularity of decentralisation in the cryptocurrency market by allowing members to control the infrastructure they engage in by developing a worldwide virtual currency backed by Bitcoin (BTC) rather than the US dollar.
Acrana (ACR), which is governed by a decentralised autonomous organisation (DAO), supports transparency within its project and values the opinions of its members, as the Acrana (ACR) community will make decisions that affect the project.
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