What is the current price of Terra?
The current price of Terra is $0.04520 with a 5.31% change in the last 24 hours.
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Prices and notionals are USD-equivalent venue units, with USDC collateral. No currency conversion is applied. Notional = venue price × base-asset size. Contract specifications
Derivatives and mapped ecosystem data, with source timings and coverage.
Terra is a proof-of-stake blockchain built with the Cosmos SDK, and LUNA is its native staking, fee, and governance token. This page describes the chain whose network identifier is phoenix-1, launched on May 27, 2022 after the collapse of the original Terra network. It is a different asset from the original LUNA, which continues to exist on the old chain under the name Terra Classic and the ticker LUNC.
The single most important fact about this chain is what it deliberately lacks. Terra's original design paired LUNA with an algorithmic stablecoin, UST, through a mint-and-burn mechanism. That mechanism failed catastrophically in May 2022. The relaunched chain has no algorithmic stablecoin and no peg mechanism at all. LUNA today is simply the staking and gas asset of a general-purpose smart contract chain.
Official sources:
The original Terra protocol was built by Terraform Labs, founded in 2018 by Do Kwon and Daniel Shin. Its flagship product was UST, a dollar stablecoin held near its peg by an arbitrage loop: one dollar of UST could always be burned for one dollar of newly minted LUNA, and vice versa.
In early May 2022 UST lost its peg. Because holding the peg required minting ever larger amounts of LUNA, the arbitrage loop became reflexive, LUNA supply expanded without limit, and both assets collapsed within days. Bitcoin reserves held by the Luna Foundation Guard were deployed and did not stop it. The episode erased tens of billions of dollars of value.
Governance proposal 1623 passed on May 25, 2022 and created a new chain rather than repairing the old one. Genesis LUNA, capped at one billion tokens, was airdropped to holders of LUNC, USTC, and Anchor's aUST based on snapshots taken before and after the collapse, with a substantial share reserved for a community pool and vesting applied to larger allocations. The old chain was renamed Terra Classic and continues to run independently.
Terraform Labs subsequently entered Chapter 11 bankruptcy, settled with the United States Securities and Exchange Commission, and wound down. Its final chain upgrade removed it from the maintenance path, and stewardship passed to community initiatives, principally the Phoenix Directive, which now publishes the chain's site, documentation, and code.
Terra runs the standard Cosmos stack. Blocks are proposed and finalized by a bonded validator set using Tendermint-style Byzantine fault tolerant consensus, and the node software is terrad, currently built on Cosmos SDK v0.50.
Live network parameters read from the chain show how it is configured:
Staking and delegation LUNA holders either run a validator or delegate to one. The active set is capped by an on-chain parameter that has been reduced over time; older documentation cites 130 validators, while the parameter currently enforces 100. Unbonding takes 21 days, redelegation is immediate, and validators must charge a commission of at least 5 percent.
Issuance New LUNA is minted every block and paid to validators and delegators at a fixed annual rate of 7 percent, with minimum and maximum inflation set to the same value so the rate does not float with the bonded ratio. There is no hard supply cap; LUNA is inflationary by design.
Governance Proposals require a deposit of 5,000 LUNA, then run a seven-day voting period with a 30 percent quorum, a 50 percent pass threshold, and a 33.4 percent veto threshold. Expedited proposals use a one-day period and a two-thirds threshold. All of these are governance-adjustable, so treat published numbers as current configuration rather than permanent rules.
phoenix-1 mainnet, the chain this asset securesLUNA is used for:
Terra's genuinely distinctive feature is its history rather than its architecture. It is one of very few networks rebuilt from a governance fork after a total economic failure, with the failed mechanism removed rather than patched, and then handed from a corporate developer in bankruptcy to a community maintainer group. Technically it is a competent, conventional Cosmos SDK chain: CosmWasm contracts, IBC connectivity, delegated proof of stake, and the Alliance module. What it no longer has is the seigniorage engine that once made it unusual.
Against other Cosmos SDK networks such as Cosmos Hub, Osmosis, or Injective, Terra offers a similar toolkit and competes on ecosystem depth rather than on architecture. Its inflation policy is simpler than most: a flat 7 percent rather than a rate that adjusts toward a target bonded ratio, so staking rewards do not automatically rise when participation falls. Against general-purpose Layer 1 chains outside Cosmos, it trades a large shared execution environment for sovereignty, native interchain messaging, and fast deterministic finality.
Against the original Terra, the difference is total. The old chain's value proposition was an algorithmic dollar; this chain has none, and any description implying that the peg mechanism still functions is simply wrong.
Security depends on:
Terra matters partly as a live chain and partly as a lesson. The 2022 failure reset how the industry thinks about algorithmic stablecoins, collateral quality, and reflexive token mechanics, and regulators worldwide cite it directly. The surviving chain is a working Cosmos network without the mechanism that caused the damage, and its transition from a bankrupt corporate developer to community maintenance is one of the more unusual governance outcomes in the space.
LUNA is listed on a range of centralized exchanges and is also traded on Cosmos ecosystem decentralized exchanges through IBC. Availability and pairs vary by jurisdiction. Before trading, confirm the listing refers to LUNA on the phoenix-1 chain and not to Terra Classic (LUNC), since some venues list both.
LUNA is often available on:
Common pairs include LUNA/USDT and LUNA/USD where supported.
After purchase, LUNA can be held on an exchange, which is custodial, in a Cosmos-compatible non-custodial wallet that supports the Terra chain such as Station or Keplr, or in a hardware wallet paired with a compatible Cosmos interface, which also allows delegation.
Verify the network and the address prefix before any transfer. Terra addresses begin with terra, and the same prefix is used by Terra Classic, so double check which chain a deposit address belongs to.
You can compare LUNA with related ecosystems on Coinrithm:
Track Terra live price, chart, market cap, and volume in real time. Practice mock trading and demo trading for Terra on CoinRithm before using real money.
Use a crypto paper trading account to demo trade Terra with real-time prices, AI trade feedback, and trading leagues. Test strategies, learn risk management, and build confidence before trading Terra with real money.
Read the complete paper trading guideThe current price of Terra is $0.04520 with a 5.31% change in the last 24 hours.
The daily trading volume is $803,225 representing a 70.94% change in the past 24 hours.
The market capitalization of Terra is $32,087,879, ranking #424 globally.
The fully diluted valuation (FDV) of Terra is $53,633,446, calculated assuming the total supply of 1,186,707,049 LUNA is in circulation.
Circulating: 709,984,439. Total: 1,186,707,049. Max: N/A.
In the last 24 hours, Terra traded between a low of $0.04300 and a high of $0.04787.
LUNA/USDTTether USDT0.04520 USDT
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