Terra Luna Classic (LUNC), the cryptocurrency underlying the Terra blockchain, is on the rise again. The last time this project topped the news headlines was after losing the 1:1 peg of its algorithmic stablecoin UST to the US dollar.
Over the last 7 days, the token price has increased by 11% and the coin is now trading in the range of $0.00006477 to $0.00006589. It has a market capitalization of $376 million and a 24-hour volume of $25 million.The rise in value is believed to be influenced by investor optimism due to the anticipation of approval of bitcoin-ETF applications.
However, poor fundamentals indicate that LUNC is unlikely to keep pace with the rally of the broader cryptocurrency market. For this reason, Terra Luna Classic’s price forecast is unlikely to change significantly to bullish in the near term.
Price forecast: are investors ready to say goodbye to Terra Luna Classic (LUNC)?
L1 Task Force developers recently announced that they plan to put the blockchain into “maintenance mode” in the fourth quarter to address issues with the network and decentralized applications. However, despite the team’s efforts, which are still invested in promoting Terra Luna Classic, the outlook for LUNC is not hopeful.
Hardly anyone in the crypto space trusts or takes seriously any project with the name Terra Luna. The blockchain has never fully recovered from the 2022 crash that cost investors billions.
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According to DeFiLlama, a portal that reviews DeFi projects, the blocked trading value of Terra Luna Classic (TVL) is $1.53 million. This dollar value of the cryptocurrency, captured in smart contracts on the blockchain, is too small to interest investors.
At its peak, the network’s TVL volume was around $35 billion. The current low blockchain trade value underscores that Terra Luna Classic has essentially become a “rogue blockchain” that no one is using.
For this reason, it is not surprising that LUNC’s outlook remains bearish, even if the broader cryptocurrency market is expected to grow in the coming months. For now, analysts suggest that LUNC will continue to find resistance at its major moving averages and remain in a long-term downtrend. This is how the token is likely to reach its all-time low around $0.000044, which would mean a drop of 20% or more from current levels.
Cryptocurrencies that could outperform LUNC
While the Terra Luna Classic altcoin shows no signs of stability, many investors are relying on promising new cryptocurrencies. To capitalize on pre-sales, the key is to invest as early as possible while the coins’ value is at its lowest point. Investing early allows you to buy more tokens and make a larger profit once official trading begins.
According to analysts, the 2023 presale leaders seem to be Bitcoin Minetrix (BTCMTX) and Meme Kombat (MK). Let’s take a closer look at each coin in detail.
Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix (BTCMTX) is a new cryptocurrency mining platform. Bitcoin Minetrix makes it easier to “mine” bitcoin in the cloud, making the process more transparent and cost-effective.
Bitcoin Minetrix could be a solution to many of the problems that cloud mining faces, including high cost and fraud risk. This is how the team behind the new project gives control of the tokens back to investors. All they have to do is purchase and stack BTCMTX, the platform’s own token, to earn credits that can be exchanged for cloud mining capacity.
BTCMTX is allowed to be sent to and withdrawn from the staking at any time, and investors are free to sell their earned assets on the exchange. The smart contract has also been fully audited by Coinsult.
To start earning with cloud mining, interested investors can buy BTCMTX for $0.0113 during the fourth round of the presale. There will be a total of 39 rounds of the presale, with 70,000,000 coins allocated for each round.
The presale has raised more than $2.7 million. By the final round, the value will rise to $0.0148 per token.
Benefits include:
- Users of the platform have the right to dispose of their earned assets thanks to the decentralization of cloud mining.
- “Mining” bitcoin will be possible through the phone 24 hours a day.
- The initial cost of mining is only $10.
Meme Kombat (MK)
Meme Kombat (MK) is a new project that unites the world’s most famous memes in a single arena for battles using blockchain. The developers’ proposal is unconventional for the meme coin niche, as the team has found a way to give utility to the most volatile assets in the crypto market.
Meme celebrities such as Baby Doge, Milady, Kishu, Floki, Pepe, Pepe 2, Shiba, Sponge, Wojack, Doge and Mong will collide in the first season. Viewers can place bets on the outcome of the fights, and artificial intelligence technology adds to the spectacle of the fights and static characters.
The team behind Meme Kombat has ambitious plans, including new game modes, partnerships and innovative developments. For this reason, analysts believe that the digital currency has a chance for growth once it hits the cryptocurrency exchanges.
A total of 120 million MK tokens will be issued, while the current value of one coin is $0.1667. The project has already managed to attract more than $900 thousand, and investors are rushing to buy the altcoin before its value rises.
The features of the project include:
- The platform is transparent, as you can learn about the founder through his LinkedIn.
- Early investors get the added benefit of automatic staking during the pre-sale.
- PoS rewards are currently at 112%.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
