Terra Luna Classic price drops 3% in last 24 hours as market volatility continues Ongoing effects of the FTX collapse and subsequent hack, At $0.00015053, LUNC is also down 13% over the past week and 35% over the past 30 days, doing little to counteract the effects of the negative investor sentiment currently underway.
Although the Terra Luna Classic community and ecosystem continue to support the price of LUNC as best they can, last month saw a proposal to peg USTC back to $1. If implemented, such a plan would lead to a significant increase in LUNC prices, potentially returning itself to $1 or more.
Terra Luna Classic Price Prediction – Can LUNC Hit $1 in the Next Bull Market?
Looking at the price chart of LUNC, it is clear that there is not much momentum behind the altcoin at the moment. Its Relative Strength Index (purple) has dropped to 30 over the past few days, indicating a rally in selling.
Meanwhile, its 30-day moving average (red) continues to trade below its 200-day average (blue), and may soon reach the bottom. If so, this would signal a rebound to come, although with the market still feeling the FTX collapse, it is unclear when such a rally might occur.
However, a few things are happening with the Terra Luna Classic ecosystem that suggest LUNC may be making a comeback sooner than later. Most notably, the developer Tobias Andersen published a proposal Last month that would potentially relink USTC, the stablecoin to which the price of LUNC has historically been tied.
The proposal would see the creation of a system of ‘quantitative tightening’, which would lead to increased burn taxes on USTC and LUNC, as would interest rates and lock-up periods for staking. In theory, this would drive significant amounts of USTC and LUNC out of circulation, and by extension the prices of both coins would slowly rise over time.
As of writing, this proposal is only a proposal. However, its publication was enough to double the price of USTC in the second week of October, raising hopes of further growth for both coins in the future.
Its publication also highlights how the Terra Luna Classic community is banding together to produce plans to boost the respective prices of LUNC and USTC. Back in September, it implemented a 1.2% tax burn for all on-chain LUNC transactions, and since this has been reduced to 0.2%, the call rate remains on the back burner to return to 1.2% or even higher.
Additionally, exchanges such as Binance have initiated their own burn on LUNC trades, helping to reduce the coin’s circulating supply even further. That said, with the 6.879 trillion LUNC still making the rounds (down from 6.9 trillion about a month ago), the burn has a long way to go before it will have a substantial impact.
Altcoins with more short term potential
While LUNC remains likely to reach $1 in the near future, other coins offer higher potential for above-average gains in the near term. In particular, coins that have passed through their pre-sale present a good opportunity for returns. Some Pre-Sale Coins Gained Over 1,000% on their initial listing this year.
Accordingly, here are three coins that are currently holding their presales. Each of these boasts solid fundamentals, increasing their chances of seeing profits in the short and long term.
Dash 2 Trade (D2T)
dash 2 business Is an Ethereum-based trading intelligence platform where investors can access real-time analytics and social trading data, aimed at helping them make more informed trading decisions.
Due to launch in Q1 2023, its native D2T token sale Has already raised over $6.7 million, It also announced listings on the BitMart and LBANK exchanges early next year, confirming that investors will indeed have an opportunity to lock up some real returns.
Robotera (Tarot)
also running on ethereum, robot era (TARO) is a sandbox-style metaverse in which gamers can play as robots and participate in the creation of its virtual world. Its alpha version will go live by Q1 2023, with its ecosystem allowing users to create their own NFT-based land, buildings and other in-game items.
1 TARO is currently selling for 0.020 USDT (it can be bought using either USDT or ETH), however this price will increase to $0.025 in the second phase of its pre-sale, which is set to start soon .
IMPT (IMPT)
running on ethereum, IMPT There is a carbon credits marketplace where users can earn and trade NFT-based carbon offsets, which can also be earned by making purchases with a wide range of eco-friendly retailers. The tokenization of carbon credits in the form of NFTs means that such credits can be tracked in a more transparent manner, helping to solve many of the problems that have, until now, underpinned carbon markets.
IMPT pre-sale is now over raised $13 million Barely a few weeks after its launch, it is one of the hottest sales in crypto right now.
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