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This dashboard looks at the prices of pLUNA and yLUNA and what factors could contribute to their relative value.
Prism is a protocol built on the Terra blockchain that allows users to split their LUNA, the governance token of Terra, into two assets, pLUNA and yLUNA. pLUNA and yLUNA allow holders to receive benefits of the many use cases of the LUNA token at the same time. The yLUNA token allows the holder to receive staking rewards and airdrops, while the pLUNA token represents the LUNA token itself, meaning that after the maturity date of the pLUNA expires, it can be redeemed for one LUNA.
To determine what facotrs effect the price of pLUNA and yLUNA, we will look at both the number and volume of transactions involving each of the tokens, and their correlation with price. We will also look at the correlation between LUNA's price and yLUNA and pLUNA. All of the data looked at in this dashboard will be from the past month.
The price of pLUNA has steadily increased over the past month, from around $14 to a little over $20. The number of transactions involving pLUNA however, have not steadily increased, but in fact sharply decreased form March 12th to March 26th, while the price of pLUNA stayed relatively stable. The price of pLUNA does seem somewhat correlated to the number of transactions, as an increase in transactionf from March 6th to March 11th coincided with a large price increase in pLUNA, and an increase from March 26th to April 2nd also coincided with a significant price increase in pLUNA.
The volume of transactions involving pLUNA over the past month was relatively stable except for a large spike on March 31st. This spike did coincide with an increase in pLUNA price, although even after a sharp decline in volume the following day, the price continued to increase.
The price of yLUNA and the number of transactions involving yLUNA seem heavily correlated, as an increase in transactions from March 24th to March 29th coincided with a significant increase in price.
The yLUNA price and transaction volume seem somewhat correlated as well, except for two large dips in transaction volume on April 3rd and April 5th that had little effect on price.
As to be expected, the prices of pLUNA, yLUNA, and LUNA are heavily correlated, with an increase in LUNA leading to a price increase in pLUNA and yLUNA. LUNA has the greatest value, at around $10 to $20 more than yLUNA, and about $80 more than pLUNA over the past few weeks.
in conclusion, the price of pLUNA is correlated more with number of transactions than with transaction volume, while yLUNA is correlated with both transactions number and volume. They are both heavily correlated to the price of LUNA.