The price of Terra Luna Classic is up 8% in the last 24-hours, rising to $0.00009048 on the day the cryptocurrency witnessed the one-year anniversary of the infamous Terra crash.
The crash rendered LUNA and its companion stablecoin UST almost worthless overnight, yet it seems that LUNC – the cryptocurrency running on the original Terra chain – has risen on the hopes that there will be positive news to mark the anniversary. can be announced.
Despite today’s surge, LUNC remains down 15% in one week and 28% in the past month, with the coin also down 37% since the start of the year.
But with the one-year anniversary raising new hopes, and the Terra Luna Classic community constantly pushing to update the Terra series, it may not be long before LUNC arguably has an overdue rally.
Terra Luna Classic Price Prediction May 10th as the First Anniversary of the Luna and UST Crash – Will Important News be Announced Today?
The LUNC chart shows the altcoin in a promising position, with its 30-day moving average (yellow) beginning to move towards its 200-day (blue), indicating an upcoming rally.
While its Relative Strength Index (purple) has declined after moving towards 80, it remains above 50, indicating that LUNC continues to attract positive momentum.
More bullishly, LUNC’s support level (green) has risen strongly over the past few days, with the coin’s price forming a pennant that could suggest a breakout.
As noted above, LUNC’s rally today is largely a product of the one-year anniversary of the terra de-peg, during which the UST lost its 1:1 peg to the US dollar and during which an attempt Trillions of Luna were issued — a failed attempt — to raise the price.
Fast forward to today, and it seems that either the LUNC community is deliberately ‘celebrating’ the occasion by pumping up coins, or that there is some genuine hope that the Terra Luna Classic benefits from some sort of announcement. Could
So far, there’s no sign of any major announcements, yet it’s worth noting that the Terra Luna Classic series — and by extension, LUNC — continues to witness steady growth.
Recently, this includes A proposal from the Layer 1 Task Force To introduce a number of technical upgrades related to Terra Luna Classic’s use of Tendermint and interoperability with Cosmos, as well as minimum deposit amounts for governance participation.
If accepted, this will not be a major upgrade, but it does highlight the ongoing work being done to improve Terra Luna Classic and make it a useful blockchain network.
On top of this, a plan to re-peg the USTC was accepted by the Terra Luna Classic community late last month, paving the way for a large increase in the price of LUNC, which has been largely burned to achieve Will go Peg again.
Given this plan, the market could see LUNC rally very strongly in the later months of the year, potentially losing decimal places as it moves back to $1 and higher.
There is still work to be done to actually implement the plan (including getting consent and cooperation from major exchanges), but if it goes ahead, LUNC could be back in a big way.
A new alternative to LUNC
Despite LUNC’s potential, some traders who may prefer to look at the coin are not resting their hopes on a massive restructuring plan.
Fortunately, there are many promising new coins on the market, with some token pre-sales offering the opportunity to make some big, above-average profits this year.
one of the most interesting idogAn AI-powered meme-generating platform has raised over $5 million in a pre-sale for its Ethereum-based $AI token, which launched only two weeks ago.
Due to launch at the end of the year, aDog combines advanced algorithms and big data in a way that enables its users to generate memes based only on short text-based descriptions.
The platform also includes a strong community element, with users able to upvote and downvote each other’s memes.
High ranked memes will earn their creators rewards in $AI, which can also be staked to earn holders credits.
Investors can participate in the sale by visiting the official AiDoge.com Linking website and their crypto wallet, with 1 AI currently costing $0.0000288.
This will rise to $0.00003360 by the 20th and final leg of the sale, although AI could easily rise even higher once it is listed on exchanges in the next few weeks.