What is LUNA used for?
Remember, the LUNA coin price is not pegged to AUD. As the native token for the project, it is used for staking, paying gas fees, and for governance on the platform. Moreover, many people hold the token as an investment, as they believe they see the project as a long-term investment. Others trade it, buying when they consider the AUD LUNA price to be low and selling when they see the AUD LUNA price as being high.