While the broader crypto market struggles for a bull run with the majority of the cryptocurrencies below their important price levels, there is one currency, Terra Classic (LUNC) which is selling on a positive note against the entire market.
Terra Classic (LUNC) has registered a massive 7% jump in the last seven days. However, at the time of reporting, LUNC Price has lost 22% and is trading at $0.000342
Terra Classic (LUNC) Will Not Hold For Long
Though LUNC’s performance is commendable in the last week, many are speculating about the currency’s stability with Terra network’s past record where LUNA and its stablecoin, UST collapsed in May.
Furthermore, Gokhshtein Media founder, David Gokhshtein took to Twitter to address the obsession around LUNC and calls LUNC a lottery ticket where the currency lacks utility.
Additionally, the media founder also revealed that one of the LUNC supporters replied to his tweet that who cares about utility, just pay attention to the burn and the currency reaching $0.01.
Last week’s LUNC rally is mainly due to the burn proposition by the Terra network as the community hopes to bring back the asset and the trust with the upgrade. After the burn completion, it will see a 1.2% burn fee imposed for every LUNC transaction.
Also, the network has received support from crypto exchanges like U.K based Y-5 and MEXC Global, though many in the industry believe the currency will fall and not hold on for long. Several industry experts are against LUNC because they are of the opinion that the project is a pump-and-dump strategy.
It is also important to note that the latest bull run by LUNC has pushed the currency to register a height of $0.00044 before the currency plunged.
The post Altcoin Market Might Crash More Than 60% in Next 12 Months appeared first on Coinpedia Fintech News
Along with Bitcoin, altcoins too have been the prey of extreme volatility since a while now. Just a couple of days before the market appeared to be recovering but that couldn’t hold on for long as the currencies dropped. While the currencies struggle for a bull run, one of the known analysts is predicting more …
One of the most prominent financial hubs in gulf countries, Dubai, has shown keen interest in web 3 and metaverse technology. The country’s moves also spurred innovative development and the establishment of regulatory frameworks in neighboring states like Saudia Arabia. But UAE remains ahead of the curve with its latest announcement revealed on Wednesday in […]
The post Alert Traders! XRP Up For Another Price Crunch, Here Is Why appeared first on Coinpedia Fintech News
The crypto market is currently on a bumpy ride as Bitcoin, the first born currency, has once again lost its $20,000 level. In the early hours today, September 29, Bitcoin had managed to surge from $18.5k to $19.8k before plunging. Currently, Bitcoin is trading at $19,255 with a drop of 1.56% in the last 24hrs. …
FTX has won the bid to absorb cash-beleaguered crypto lender Voyager Digital, beating crypto exchanges Binance and CrossTower. According to a Monday announcement, FTX won after placing a $1.422 billion bid, with Voyager describing the sale as “the best alternative for Voyager stakeholders.” Details as to how much its two other competitors offered were not […]
Two U.S. Republican senators, Marsha Blackburn of Tennessee and Cynthia Lummis of Wyoming, have introduced a bill that, if passed by the Senate and House, could see crypto companies legally reporting and sharing with federal and state authorities and among themselves any cyber threat indicators, activities, individuals/companies, and information they may deem as a cyber-security […]
The post Chainlink Witnesses Increased Whale Activity, LINK Price Rally On Charts appeared first on Coinpedia Fintech News
Chainlink (LINK), the 21st cryptocurrency by market cap, was trading positively but has recently begun struggling for a bull run again. Since the early hours of the day, the currency has seen a notable bearish trend. At the time of writing, Chainlink is selling at $7.70 after a drop of 2.42% over the last 24hrs. …