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The Terra Luna Class price has dropped b 0.8% in the past 24 hours, to $0.00023023. This represents a 13% fall in a week and a 20% decline in a fortnight, with LUNC continuing to witness a slide following a rally last month driven by new token burns.
Now, the excitement over its tax burn and Binance’s trading fee burn appears to have subsided, with LUNC ‘only’ 22,979% up from its all-time low of $0.000000999967, set back in May when Terra spectacularly collapsed. This might seem like a big gain, but bear in mind that in early September it was 57,000% up from this all-time low, indicating that it has been on a decline ever since.
However, there are other altcoins that promise above-average gains to traders, and all without having suffered catastrophic failures on the scale of Terra. These include Dash 2 Trade, the Impact Project and Calvaria, all of which are currently going through their presales right now, thereby promising big gains to early investors.
3 Reasons Terra Luna Classic Price is Heading to $0
It’s arguable that LUNC has already seen its post-crash peak, and that now all it has to look forward to is another (albeit longer term) decline.
Its relative strength index (purple) has been subdued for most of October, during which it has been mostly under 50. This signals overselling and a lack of momentum, a view supported by LUNC’s 30-day moving average (red), which continues to sink below its 200-day average (blue).
Basically, LUNC’s indicators continue to show an altcoin in decline, with little to suggest an incoming recovery or rebound.
Equally discouraging is the fact that, despite Binance continuing its trading fee burns, LUNC hasn’t seen the kind of rally it saw in September, when burns were first announced. One way to interpret this is to suggest that the announcement of the burns created an expectation of big price gains for LUNC, yet the burns themselves haven’t been big enough to have a material effect on the coin’s price.
As such, the modest reality of the burns has kicked in, leaving holders a little demoralized. As a result, some have already unloaded bags onto the market, pushing down LUNC’s price further.
According to the LUNC Burner Online website, a total of 24 billion LUNC has been burned to date. This might seem like a big number, but bear in mind that the coin’s total circulating supply is a whopping 6.9 trillion.
On top of this, LUNC simply suffers from the fact that there’s no fundamental reason to buy the coin anymore. Its main purpose — to support the price of stablecoin USTC — has been ended for good, seeing as how no sane trader could possibly trust USTC as a stablecoin.
So apart from a vague expectation related to token burning, there really is nothing supporting or driving LUNC’s price. This is why it’s arguably not really worth anything.
3 Better Altcoins to Invest In
For traders eager for big rises, there are more promising alternatives than LUNC, especially with regards to the longer term.
First up is Dash 2 Trade, an Ethereum-based trading intelligence platform that provides users with real-time analytics and data that helps them to identify good trades. It launched its presale in the past few days, and has already raised over $2 million.
Then there’s the Impact Project, which is also based on Ethereum and which is developing a carbon credit marketplace, where users can earn NFT-based carbon offsets for shopping with eco-friendly retailers. The presale for its D2T token has now raised just under $9 million, around three weeks after launching.
Thirdly, Calvaria is a play-to-earn game that lets players earn and battle with NFT-based collectible cards. Uniquely for a blockchain-based game, it enables users to play without needing to hold any cryptocurrency, although it has already sold 7.5 million of its RIA token during its presale.
All three of these altcoins have stronger fundamentals than LUNC, with each having much brighter futures ahead of them. At the same time, the fact that they’re holding their respective presales right now means that early investors have the opportunity to lock in some above-average returns, since when they receive their first exchange listings each coin is likely to surge.
It’s hard to say by how much each will rise, but as an example, Tamadoge (TAMA) saw a return of 1,800% relative to its presale price after listing on OKX in early October. This shows how far a newly listed coin can increase under the right circumstances, and with all three of these coins have strong selling points, they’re also likely to post a substantial return once their presales end.
