Thread by @crypto_mystery

Morning update:

Since a lot of people have been asking me about $LUNA updates lately, I decided to dedicate the whole update to this special project!

In terms of the prices, we are still consolidating in what looks like a giant ascending triangle. We have now been consolidating for more than 2 months and will likely be breaking out in the coming days/weeks as pointed out by @KongBTC

https://twitter.com/KongBTC/status/1454182942507421696?s=20

The ascending triangles are a bullish formation that anticipates an upside breakout. The longer the consolidation, the bigger the pump😉 $LUNA

In terms of fundamentals, not much has changed. We are still burning $LUNA almost every day as the demand for $UST stablecoin is picking up📈

We can see this also by simply looking at the $UST market cap on CMC. As you can see, the market cap is slowly but surely going up!💪 $LUNA

In late October, the wormhole bridge and IBC integration went live meaning that $UST started to enter other blockchains. The effect was not as big as most people expected but it is becoming clear that this could drive the next wave of UST adoption.. Good things simply take time⌛️

Looking at the Wormhole token bridge contract, we can see that over 100 million $UST was already bridged. I would say that this is quite a good start considering the fact that it went live less than 2 weeks ago!

The @Saber_HQ protocol, which is the biggest protocol on Solana in terms of TVL (Total Value Locked), managed to attract 12 million $UST into their main liquidity pool. Also not bad I would say👌 $LUNA

@osmosiszone, which is a Cosmos-based DEX started with their pools a little bit later and so far managed to lock roughly 7 million $UST into their liquidity pools. Not much but I think we should give it more time!⏳

There is also voting taking place for the $LUNA incentive on @osmosiszone. If this passes, which it obviously will, we should see the numbers go up!😉

Apart from other chains, centralized exchanges started to adopt $UST. So far this didn't have big effect on $UST demand but could be big if they start to list more trading pairs and the regulatory pressure on centralized stablecoins continues to pick up🌖

https://twitter.com/CoinbasePro/status/1453436337906933770?s=20

The next important catalyst could also be the burning of a community pool with almost 100 million $LUNA tokens. This will bring insurance protocol Ozone to life and increase staking rewards... Bullish🔥

@orion_money, which was mainly responsible for the start of a previous rally and increased demand for $UST, will soon be integrated with @BLOCKBANKapp 💪 Over 50k Blockbank users will soon have access to high yield savings powered by $UST 🔥

https://twitter.com/orion_money/status/1452640608116514824?s=20

While it is hard to say when will this go live, it will definitely have a big impact on $LUNA price🤑

Apart from @orion_money other projects are starting to integrate @anchor_protocol ✅ In their quarterly report, even @iconomicom mentioned it👀

Imagine taking the profits from the strategy and then earning 15%-20% interest on your money!🤯

Source:

https://twitter.com/CARUS_AR/status/1454125380135227394?s=20

New protocols are expected to go live by the end of the year. While it is hard to give a realistic timeline, I think protocols like Mars, Astroport, and Prism will have a big impact on the Terra ecosystem and $LUNA price. All of them will bring exciting things to DeFi💪

Last but not least, MIM-UST money printing machine is already being tested. Hard to say when we will see it live but once we do, the $LUNA pump will be epic. I expect this to have a huge impact on the price so fingers crossed it soon goes live🤑

If you missed my posts regarding this money printing beast, you can check out this video by @danku_r 💪 $LUNA

There are so many exciting things on the horizon that I could keep going but let’s stop it here as I do not want this thread to be too long. The conclusion is that I remain extremely bullish about $LUNA and still think it will be one of the best-performing assets of this year!🚀

P.S. This is simply my opinion and not financial advice, always do your own research before investing!