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Luna’s Columbus 5 Upgrade Could Make Solana Price Explode to $500

Published on Sep 30, 2021 at 4:15 AM Updated on Oct 3, 2021 at 10:54 PM

Luna’s Columbus 5 Upgrade Could Make Solana Price Explode to $500

Solana maintained its pricing over $100.
LUNA remains the most undervalued currency.

The crypto industry appears to be purging weak hands as Chinese market manipulation continues to wreak havoc. The overall market value is $1.857 trillion, down from $2.2 trillion on September 26th, 2021, as per CoinMarketCap.

Despite the market collapse, Solana maintained its pricing over $100. Furthermore, it is now trying to exceed the psychological threshold of $150. Several improvements are planned for the platform.

Terra Luna’s price has soared recently, setting a new high. It just reached a new ATH of $44.34, making it one of the top 15 crypto assets. Terra is preparing for the much-anticipated Columbus 5 upgrade launch on September 30th, 2021.

Bridge Between Terra and Solana

Cross-chain integration with popular crypto blockchains as Solana, Polkadot, and Cosmos. In addition, the update may increase the prices of SOL, DOT, and ATOM. Furthermore, Terra’s upgrade will also include a wormhole that will serve as a bridge between Terra and Solana. Current projects and platforms can transfer tokenized assets across blockchains easily.

Sized $LUNA into the biggest position in my portfolio again.

Terra is now the most undervalued L1 despite one of the best TVL growth prospects vs peers given Columbus 5 upgrade in few weeks.

TVL can easily double and multiple rerates to 6x which implies a $140 price target EOY. pic.twitter.com/nvveD8LDh2
— Daniel Cheung (@HighCoinviction) September 14, 2021

According to renowned crypto expert Daniel Cheung’s chart, the Solana ecosystem grew rapidly. Solana’s total value locked (TVL) increased by 1,657,043 percent in six months to 11.6 billion. Despite the improvements and massive TVL, LUNA remains the most undervalued currency.

According to CoinMarketCap, the SOL price is $137.99. Bulls may hit new highs if the price bounces off it. Moreover, if the market falls, the SOL has significant support at around $75. SOL price may still hold between $110 and $115.

Terra Luna has created few big bull flags in September, previous to the upgrade. How it affects the SOL pricing can be known after it’s implemented.

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Mohamed Faisal

A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.