Exploring Terra Luna Coin: An In-Depth Guide
Intro
In the dynamic landscape of cryptocurrencies, Terra Luna Coin stands out as a noteworthy player, brimming with potential yet shrouded in complexity. To gain a thorough grasp of this coin's nuances, it's essential to break it down into components, scrutinizing its technological backbone and market behavior, among other details. This exploration will serve as a compass, guiding you through the intricacies of Terra Luna Coin.
Understanding cryptocurrencies can sometimes feel like deciphering a complex puzzle. Yet, by simplifying the pieces, we can better appreciate how Terra Luna Coin fits into the broader digital finance picture. Join us as we embark on an analytical journey that seeks to shed light on this intriguing asset, providing valuable insights for investors, enthusiasts, and educators alike.
The Genesis of Terra Luna Coin
The inception of Terra Luna Coin is a significant chapter in the larger narrative of blockchain technology and digital currencies. It serves not merely as the starting point of a cryptocurrency but as a critical pivot that merges traditional financial systems with innovative decentralized solutions. Understanding this genesis provides insight into how and why Terra Luna has evolved into a prominent player in the cryptocurrency arena.
Understanding the Concept of Stablecoins
At the heart of Terra Luna's creation lies the concept of stablecoins. Stablecoins are designed to maintain a stable value by pegging them to real-world assets, such as fiat currencies. This is akin to having your cake and eating it too; while you enjoy the benefits of digital currenciesâlike speed and decentralizationâyou avoid the rollercoaster ride of volatility that most cryptocurrencies experience. Stablecoins offer a sense of reliability, making them appealing for everyday transactions.
Trade-offs come into play, though, because the mechanisms of maintaining that stability bring complexity. A stablecoin needs backingâwhether through fiat reserves or algorithmsâin order to uphold its value. For instance, the use of algorithmic stablecoins, like Terra, has sparked debates on sustainability and risk, especially during market changes.
The Birth of the Terra Ecosystem
The actual birth of the Terra ecosystem represents an ambitious endeavor to make blockchain technology accessible and practical for everyday use. Spearheaded by the Terraform Labs, the ecosystem was aimed at providing a robust infrastructure that supports decentralized finance (DeFi) applications and other functionalities. Think of Terra as a vibrant marketplace; not just a standard locale, but one that adapts to the needs of its visitors.
Letâs break down the building blocks of this ecosystem:
- Stablecoins: Their ecosystem features multiple stablecoins that cater to different markets while maintaining value stability.
- Decentralized Applications (dApps): The platform enables developers to create various dApps, enhancing the overall utility of the blockchain.
- Interoperability: Terra supports connections with other blockchains, which fosters a broader spectrum of possibilities.
Overall, the ecosystem's robust design aims to address typical barriers faced by users and institutions alike in navigating the digital currency landscape, ultimately aiming for broader adoption and usability.
Founders and Development Team
To better appreciate the genesis of Terra Luna, one must consider those behind its creation: the founders and development team. Daniel Shin and Do Kwon, the minds behind Terraform Labs, envisioned Terra not just as a coin but as a transformative financial system. Their diverse backgrounds encompass entrepreneurship and advanced technology, reflecting in the innovative architecture of their project.
The development team is also a crucial cog in this machine. It comprises experts from finance, engineering, and mathematics, each contributing unique perspectives to bolster the Terra ecosystem. The team has continuously adapted and responded to the fluctuating dynamics of the crypto space, making adjustments in response to community feedback and market conditions.
"The Terra ecosystem embodies the notion that blockchain can bridge the gap between traditional finance and future possibilities."
âDaniel Shin
In summary, understanding the birth of Terra Luna Coin requires digging into the nuanced layers of stablecoins, the ambition behind the entire ecosystem, and the dedicated individuals who brought this vision to life. Collectively, these elements forge the foundation for the innovations and complexities within the broader cryptocurrency universe.
Terra Luna's Technological Framework
Understanding the technological underpinning of Terra Luna Coin is essential for grasping its potential in the blockchain ecosystem. Letâs delve into its architectural complexity, consensus model, and the role of smart contracts, each shedding light on how this coin has carved a unique niche within the broader cryptocurrency landscape.
Blockchain Architecture
Terra's blockchain architecture sets a solid foundation for its operation. It utilizes a Tendermint Core, a Byzantine Fault Tolerant consensus algorithm that emphasizes speed and scalability. This framework allows for quick transaction finality, enabling the network to process thousands of transactions per second. Such capabilities are paramount for a stablecoinâutility is the name of the game.
Furthermore, the architecture is designed to handle multiple stablecoins linked to various fiat currencies, thanks to its layered structure. Each stablecoin operates within a connected ecosystem, meaning users can transact seamlessly across different tokens while remaining tethered to their fiat counterparts. This flexibility gives Terra an edge, addressing both practical needs and user preferences in a world where digital transactions are consistently on the rise.
"The real magic of Terra lies in its architectureâsmart, interconnected, and user-centric."
Consensus Mechanism Explained
At the heart of Terra's success is its consensus mechanismâproof of stake via a multi-layered approach that encourages community participation. Validators secure the network, and their selection is based on the amount of Luna they stake. This model not only incentivizes long-term holding but also democratizes governance, allowing token holders a voice in key decisions. Such inclusivity can be a game changer in a landscape often dominated by larger players.
Moreover, the model safeguards against volatility, a common issue in cryptocurrency markets. By tying rewards for staking to Terra's transaction fees, it aims to keep the ecosystem financially healthy. Users can earn rewards just for actively participating, making it attractive for both investors and developers.
Smart Contracts and Their Utility
The use of smart contracts within the Terra ecosystem is a noteworthy feature that enhances its utility. These contracts automate processes across various applications, reducing the need for intermediaries. Whether for managing payments or executing complex financial derivatives, smart contracts are central to maximizing efficiency.
In addition, Terraâs smart contracts operate using a unique programming language called CosmWasm, designed to allow developers to build decentralized applications quickly. This ease of use encourages innovation and collaboration, providing a fertile ground for various DeFi projects. From automated lending platforms to decentralized exchanges, the possibilities are extensive.
Moreover, as these contracts self-execute based on predetermined conditions, the risk of human error diminishes significantly. This reliability, combined with rapid execution, has made them increasingly appealing in various sectors, not just finance.
In summary, Terra Luna Coin's technological framework, with its robust architecture, efficient consensus mechanism, and versatile smart contracts, positions itself as an attractive prospect for investors and developers alike. The foundation laid here creates a rich tapestry of possibilities, making it a compelling study in cryptocurrency advancements.
Analyzing Market Behavior
In the ever-shifting landscape of cryptocurrencies, understanding market behavior can make a world of difference for investors and enthusiasts alike. This section aims to unravel the complexities surrounding Terra Luna Coin and how its price movements reflect broader sentiment in the crypto sphere. Analyzing market behavior is not merely a matter of observing price charts; it entails dissecting historical data, understanding the forces at play, and making informed predictions based on those insights.
Historical Price Trends of Terra Luna
Terra Luna Coin has had quite a rollercoaster ride since its inception. The historical price trends show not just the highs and lows but also how external factors can impact its worth. When Terra was introduced to the market, it saw a rapid surge, driven by its innovative protocols and the potential for mainstream adoption.
A few key moments stand out:
- Initial Surge: At launch, it attracted immediate attention, with price climbing rapidly as investors scrambled to get involved.
- Volatility Period: In its early days, there was pronounced volatility, often swinging significantly within hours. This fluctuation drew comparisons to the infamous Bitcoin boom and bust.
- Stabilization Attempts: Over time, the coin has tried to stabilize itself, implementing mechanisms to keep price fluctuations within a manageable range, aimed at creating a more predictable market.
These trends illustrate how Terra Luna Coin has adapted in response to market conditions, positioning itself for long-term viability in the crypto market.
Factors Influencing Price Fluctuations
Several elements contribute to the price fluctuations of Terra Luna Coin. Understanding these factors is crucial for anyone looking to invest or simply track the currencyâs performance. Here are a few significant considerations:
- Market Sentiment: Like any financial asset, crypto is largely driven by sentiment. News, social media buzz, or influential endorsements can cause dramatic price swings, both up and down.
- Regulatory Changes: As governments around the world tighten regulations, the sentiment toward cryptocurrencies can shift. For instance, an increase in regulatory scrutiny could create uncertainty, potentially leading to a price dip.
- Technological Advancements: Innovations within the Terra ecosystemâsuch as upgrades or new partnershipsâcan spark renewed investor interest and lead to price increases.
- Broader Economic Factors: The price of Terra Luna is also impacted by external economic conditions. For example, inflation rates or changes in the stock market may sway investor behavior in crypto markets.
Comparative Analysis with Other Cryptocurrencies
When assessing the position of Terra Luna Coin, it's essential to compare it to its peers. This comparative analysis helps investors grasp how it stacks up against other major cryptocurrencies:
- Bitcoin: Often viewed as the gold standard of crypto, Bitcoin's price movements can influence Terra Luna's performance. For instance, a big spike in Bitcoin can lead to increased interest in altcoins, including Terra Luna.
- Ethereum: Known for its smart contracts and decentralized apps, Ethereum's growth can highlight the importance of innovation in the cryptocurrency space. Investors often look at Ethereumâs advancements as benchmarks for other coins.
- Stablecoins: Terra Luna aims to integrate stablecoin characteristics. The performance of established stablecoins can provide insights into how effectively Terra Luna can remain stable amid market noise.
By taking a broader view and conducting this comparative analysis, investors gain a nuanced understanding of Terra Luna Coin's dynamics within the cryptocurrency ecosystem.
"In the world of cryptocurrencies, adaptation is key. Melting away old paradigms and embracing new trends can lead to opportunities that were once thought impossible."
Through a careful analysis of market behavior, historical price trends, influencing factors, and comparisons with other cryptocurrencies, individuals can equip themselves with the knowledge necessary to navigate this complex landscape.
Use Cases of Terra Luna Coin
Understanding the use cases for Terra Luna Coin is pivotal for grasping its contribution to the wider cryptocurrency landscape. From serving as a payment method to its involvement in decentralized finance (DeFi), these functions highlight its significance and versatility. This section explores several practical applications of Terra Luna Coin, providing insights into how it adds tangible value for users and investors alike.
Payment Solutions and Merchant Adoption
One of the standout features of Terra Luna Coin lies in its capability to facilitate seamless and instantaneous payments. This has significant implications for merchants and customers alike. With the integration of blockchain technology, transactions can be processed at lower fees compared to traditional methods. That means less money goes down the drain when making purchases, which is a win-win.
Many businesses are embracing this cryptocurrency as a payment option. For instance, e-commerce platforms have found that accepting Terra Luna Coin can enhance customer experience by providing more flexibility. Instead of relying solely on credit cards or fiat currencies, they can tap into a growing customer base that prefers digital assets.
Moreover, the speed of transactions is another advantage. While traditional banking processes can drag on, Terra Luna Coin transactions occur almost instantly, paving the way for efficient exchanges.
"The speed and reduced costs of using Terra Luna Coin can be vital for small businesses looking to streamline their financial operations."
Such easiness isnât just for big players. Small businesses can leverage this crypto for everyday transactions without the hassle of high fees associated with credit card providers.
Decentralized Finance Applications
When you think about DeFi, Terra Luna Coin solidly positions itself in the conversation, thanks to its smart contract capabilities. These contracts allow users to engage in a myriad of financial activities without needing intermediaries like banks. The beauty of decentralized finance is that it opens the banking world to everyone, especially those who are unbanked.
For example, users can lend or borrow using Terra Luna Coin as collateral. This means you can generate interest on your holdings or access quick loans without the lengthy paperwork youâd encounter at a traditional bank. Such flexibility can be game-changing for individuals needing immediate liquidity.
Furthermore, while others are following the hype, projects built on the Terra network bring innovative DeFi solutions to the forefront, enhancing user access to valuable financial services.
Incentives for Holders
Holding Terra Luna Coin comes with its own set of perks that can be enticing for investors. Many networks offer staking rewards, and Terra Luna Coin is no exception. By staking their holdings, users can participate in network security while earning passive income. This means that while they hold their coins, they can also make a few extra bucks along the wayâkind of like earning interest in a savings account, just a bit more thrilling.
Moreover, the active community around Terra Luna Coin contributes to its ecosystem. Users often find themselves rewarded for participating in governance decisions or contributing to network developments. This creates a sense of involvement and ownership, as holders can impact the future direction of the project.
In summary, the use cases of Terra Luna Coin are expansive and highly relevant. From being a practical solution for merchants to its role in decentralized finance and the incentives provided for investors, Terra Luna Coin offers a menu of options that make it a standout player in the crypto market.
Regulatory Landscape Surrounding Terra Luna Coin
Navigating the world of cryptocurrencies demands a good grasp on the regulatory environment. The regulatory landscape surrounding Terra Luna Coin is particularly crucial for investors and anyone interested in the blockchain ecosystem. Regulations influence everything from price stability to how widely a cryptocurrency can be adopted. This section explores key elements of the regulatory backdrop that Terra Luna operates within, addressing its benefits and the challenges it faces.
Global Regulation Trends Impacting Crypto
The global nature of cryptocurrency complicates regulation. Each country has its own stance. Some places, like El Salvador, have embraced Bitcoin and other digital currencies, whereas others, such as China, have cracked down hard. This inconsistency lends to a fragmented landscape.
- Adaptation of Regulations: Regulators are evolving their strategies as cryptocurrencies gain prominence. The significant rise of initial coin offerings (ICOs) has compelled many jurisdictions to clarify their legal frameworks.
- Focus on Security and Fraud Prevention: Governments often pursue regulations aimed at mitigating risks to consumers, securing interests against fraud and manipulation in crypto trading.
- Emphasizing Anti-Money Laundering (AML) and Know Your Customer (KYC): Frameworks emphasizing AML and KYC are becoming more prevalent; this emphasizes the need for cryptocurrencies, including Terra Luna, to comply with international standards to facilitate lawful transactions.
"Without global consensus on regulations, cryptocurrencies like Terra Luna remain in a precarious position, teetering between innovation and scrutiny."
Compliance Challenges for Terra Luna
While the push for regulations aims to bring oversight to the crypto realm, Terra Luna faces specific compliance challenges that can muddy its waters. These include:
- Ambiguous Regulations: Legal definitions surrounding crypto assets often result in confusion. This is especially prevalent in jurisdictions with minimal framework, causing ambiguity regarding the classification of Terra Luna.
- Changes in Laws: With regulatory frameworks still evolving, sudden legislative changes could impact Terra Luna's operations. Adapting to new rules can be both time-consuming and resource-intensive.
- Transaction Privacy vs. Regulatory Compliance: While Terra Luna promotes decentralized finance, this very aspect can create tension with regulators aiming for transparency. Balancing user privacy with legal requirements can prove complex.
- Global Disparities: Navigating the regulatory waters globally intensifies the challenge. Terra Luna must ensure it complies with regulations in various countries, leading to a need for robust legal strategies.
Understanding the regulatory landscape is more than checking a box; itâs about preemptively gauging how legal shifts may impact Terra Luna's performance and reliability. As investors and enthusiasts look to the future, taking stock of these issues could yield informed and strategic decisions.
Investing in Terra Luna Coin
When considering investment in the cryptocurrency realm, Terra Luna Coin stands out due to its unique characteristics and potential for growth. This section highlights why investing in this particular coin is crucial for both seasoned investors and newcomers alike. The importance lies not just in the potential returns, but also in understanding the underlying principles that guide Terra Lunaâs functionality and its wider implications for the digital currency ecosystem.
Exploring Terra Luna Coin is like traversing a new world; it's integral to know what youâre stepping into. Weâll break down essential elements such as volatility management, potential rewards, and the technological edge that Terra Luna offers. Each aspect plays a significant role in shaping investment strategies that can align with individual risk appetites.
Evaluating Risks and Returns
Investments in any cryptocurrency come with their fair share of risks and returns, and Terra Luna is no exception. One has to be wary, as the road can be bumpy due to market fluctuations. Understanding the risks is pivotal:
- Market Volatility: The price of Terra Luna can swing wildly in short periods. Historical data shows that the crypto market is prone to rapid changes, and Terra Luna isn't immune to this.
- Regulatory Risks: Governments around the world are still figuring out how to treat cryptocurrencies. Any sudden regulatory changes can impact the coinâs value significantly.
- Technological Developments: While Terra Luna has a solid tech foundation, the rapid evolution of the blockchain space means that whatâs cutting-edge today may not hold that position tomorrow.
On the other side of the coin, the potential returns can be enticing:
- Growth Potential: Given its unique algorithmic stability and backing by a robust ecosystem, Terra Luna has the potential to outperform traditional investments in the long run.
- Passive Income Generation: Through staking mechanisms, investors can earn rewards, adding another layer to potential returns.
How to Purchase and Store Terra Luna
Investing is only half the battle; knowing how to purchase and store your Terra Luna is equally important. Many investors overlook the storage aspect, which can lead to regrets. Hereâs a streamlined approach:
- Choose a Reputable Exchange: Start by selecting a trustworthy platform like Binance or KuCoin where Terra Luna is listed for trade. These platforms offer a user-friendly interface and adequate security measures.
- Create an Account and Verify: Once youâve chosen an exchange, create an account. Most will require identity verification to comply with local regulations.
- Deposit Funds: Use your preferred payment method to deposit fiat currency. Many exchanges accept bank transfers or credit card payments.
- Trade for Terra Luna: After funding your account, locate Terra Luna on the exchange, place an order, and finalize your purchase.
- Store Securely: After acquiring, consider transferring your Terra Luna to a digital wallet for better security. Hardware wallets like Ledger Nano are excellent for keeping your investment safe from the prying eyes of digital thieves.
Long-Term vs. Short-Term Investment Strategies
When it comes to investing in Terra Luna Coin, strategizing your approach can significantly influence your experience. Understanding the difference between short-term and long-term strategies can help tailor your investment to suit your financial goals.
- Long-Term Investment: This approach is akin to planting a tree. You nurture it over time for potentially fruitful growth. By holding onto Terra Luna for longer periods, you can mitigate short-term volatility. Investors may benefit from various developments and expansions happening within the Terra ecosystem, leading to increased coin values in the future.
- Short-Term Investment: Conversely, short-term trading can be likened to fishing; one must be quick and alert. Traders often buy and sell based on market trends, aiming to score quick profits. However, this method requires a keen eye on market movements and might lead to emotional decision-making when trades swing unexpectedly.
Both strategies have unique merits; choosing the right one depends on individual financial goals and risk tolerance.
Managing one's expectations and being clear about goals can make or break your investment journey. Being educated about your choices is key.
In summary, engaging in investments is not merely about placing funds; it's about understanding and adapting to the ever-evolving dynamics of the market. Equip yourself with knowledge, assess risks and returns, and reevaluate your strategies in a bid to thrive in the realm of Terra Luna Coin.
Future Outlook for Terra Luna Coin
The future prospects of Terra Luna Coin present a fascinating landscape for discussion and analysis. Gazing ahead, one can see a myriad of factors that could shape the coin's trajectory. These range from burgeoning adoption in the market to its capacity to withstand external challenges. Investors and enthusiasts must remain vigilant, as these elements play a pivotal role in determining the significance of Terra Luna in the broader cryptocurrency ecosystem.
Understanding the future outlook is crucial for anyone involved in the world of digital finance, as it paints a vivid picture of potential risks and rewards. The focus here will be on emerging trends, anticipated challenges, and innovative advancements that could redefine Terra Lunaâs position in the crypto arena.
Predictions Based on Current Trends
As we dive into predictions for Terra Luna, it's clear that historical data and current market sentiments serve as invaluable indicators. The cryptocurrency realm often behaves like a rollercoaster, with rapid fluctuations and sudden trends that can catch seasoned investors off guard. Analysts have identified that the increasing integration of blockchain technology across various sectors could significantly enhance the demand for stablecoins like Terra Luna.
Equally, the rise of decentralized finance (DeFi) provides fertile ground for future growth. If Terra Luna can strategically align itself with emerging sectors, such as NFTs or other DeFi applications, it could emerge as a frontrunner in these realms. Predictions also suggest that habitual buying patternsâespecially among retail investorsâcould stabilize prices, making Terraform a more attractive option as a medium of exchange.
Potential Challenges Ahead
Despite an optimistic outlook, potential roadblocks are looming in the horizon. One significant challenge lies within the regulatory framework. Governments around the world are now noting the rise of numerous cryptocurrenciesâregulatory scrutiny may intensify, leading to stricter guidelines that could stifle innovation.
Moreover, competition is heating up in the crypto space. New contenders and established players are eager to capture market share. If these competitors manage to leverage cutting-edge technology or implement captivating value propositions, Terra Luna may find itself struggling to keep up. The fickle nature of market sentiment toward cryptocurrencies can also affect volatility, making it essential for investors to tread cautiously.
Innovations on the Horizon
In the face of challenges, innovation often becomes the lifeline for many cryptocurrencies. Terra Luna's development team continues to emphasize continuous improvement, seeking ways to enhance its ecosystem. Future updates may focus on bolstering transaction speeds and reducing costsâkey factors that have been the Achilles' heel for many existing blockchain solutions.
Furthermore, collaborations with businesses in traditional sectors could open up newer avenues for utilization, thereby increasing Terra Luna's real-world application. Think of partnerships with global payment providers or integrations with e-commerce platformsâthese could transcend Terra Luna from just a trading asset to a functional currency.
"In the crypto world, flexibility and adaptability are essential. The future may be uncertain, yet opportunities abound for those willing to innovate and evolve."
Community Engagement and Development
In the ever-evolving realm of cryptocurrency, community engagement plays a pivotal role in the overall growth and sustainability of projects like Terra Luna Coin. The essence of such a digital currency lies not just in its technology or market value, but in the participatory nature of its community. When investors and enthusiasts rally behind a coin, they create a robust ecosystem, driving innovations and facilitating usage.
Indeed, a thriving community fosters trust and reliability. Members share knowledge, provide assistance, and contribute to the projectâs development. This symbiotic relationship transforms users from mere spectators into active participants, thereby enhancing the coin's longevity.
As with many cryptocurrencies, the community serves as the backbone of Terra Luna. Its insights and feedback are crucial for iterative improvements. When community members engage actively, they often influence the project's direction, advocating for features that enhance user experience or security. This collaborative effort can lead to innovative solutions that may not emerge from centralized decision-making alone. In short, community involvement not only rallies support but can also accelerate growth and adoption.
Moreover, the benefits to the project are manifold:
- Informed Decision Making: Collective input helps the developers make better choices tailored to user needs.
- Enhanced Transparency: When the community is involved, it encourages openness, reducing the chance of misplaced trust or fraudulent activity.
- Stronger Marketing Potential: Active communities often lead to organic growth through word-of-mouth, reducing costs related to traditional marketing.
"A strong community is like a mighty river; its flow is powerful and can carve canyons through even the hardest rock."
Role of the Community in Growth
Community members play a vital role in Terra Lunaâs growth strategy. They are not merely passive observers but vital contributors to discussions around enhancements and future developments. Through forums, social media platforms like Reddit and dedicated Discord channels, members exchange opinions and propose new ideas.
Notably, the collective voice of the community can lead to significant changes in development priorities. For instance, if many users demand a specific feature, the development team may prioritize it, understanding that fulfilling user desires is key to retaining interest and investment. This dynamic gives power to the community, allowing for preferences to shape the projectâs roadmap.
To that end, community-driven initiatives are not uncommon. These include:
- Informative Meetups: Local groups often host sessions discussing advancements in the Terra ecosystem, educating users and attracting new members.
- Online Campaigns: Community members create campaigns on social media to raise awareness and advocate for Terra Luna.
- Testing and Feedback: Users are often recruited for beta tests of new features, providing feedback that is invaluable for refining functionality.
Developer Contributions and Open Source Projects
The open-source nature of Terra Luna Coin invites a broader community of developers to contribute. This transparency encourages innovation and allows anyone with the expertise to propose enhancements, fixing bugs or introducing brand new features. Such contributions can result in a more resilient and adaptable codebase, as the input is diversified and not limited to a handful of professionals.
In practical terms, the open-source model brings several benefits:
- Diverse Skill Sets: Different developers bring unique strengths and perspectives to the project, driving creativity.
- Rapid Iteration: Enhancements can occur at a faster pace when numerous developers are involved, allowing for quicker problem resolution and feature deployment.
- Community Trust: Being open-source engenders trust, showing that the code can be examined and scrutinized by anyone, thus reducing risks of hidden backdoors or malicious intent.
The Terra community has recognized these elements and actively encourages contributions via GitHub, allowing developers from around the globe to collaboratively shape the future of Terra Luna Coin. By doing so, they create a rich tapestry of innovation that benefits all stakeholdersâmaintaining broad engagement while also enhancing the cryptoâs technological adeptness.
In summary, community engagement and the open-source contributions of developers harness collective intelligence and resourcefulness, fostering a robust environment conducive to sustainable growth and trust in Terra Luna Coin.
