Terra Luna 2.0 Continues to Trade Sideways, LUNC Loses Another Zero

Terra Luna 2.0 Continues to Trade Sideways, LUNC Loses Another Zero
фото показано с : nulltx.com

2022-5-31 16:47

Terra Luna 2.0 went live on exchanges last night, and traders have mixed feelings regarding LUNC and LUNA. Some remain hopeful that LUNA 2.0 will reach prices as high as $50, while others are on Terra Classic’s side, encouraging users and exchanges to burn the token to reduce the enormous supply of the cryptocurrency. Let’s look at what’s happening with LUNC and LUNA and see what next week may hold in store.

LUNA 2.0 Remains Above $1.2 Billion Market Cap

The good news is that LUNA 2.0 is holding its support level of $5 relatively well, with a substantial increase in trading volume. The 24-hour trading volume for LUNA is currently at $284 million and rising. The successful launch of the new token is due in part to the number of exchanges that banded together to support LUNA 2.0.

Taking a deeper dive into the trading volume, the top exchange for LUNA is KuCoin, with a trading volume of $155 million, followed by Gate.io, with a 24-hour trading volume of $35 million.

In addition to listing LUNA extremely quickly and enabling traders to start buying and selling the token, some exchanges like Bitrue offer a staking option for LUNA USDT & USDC trading pairs for an APY of up to 7%!

Trading for the new version of $LUNA is now online! @terra_money

Try now with $USDT & $USDC pairs:https://t.co/p5ShyohEmZhttps://t.co/TBp90gD7Yr pic.twitter.com/8tKSAFKN5F

— Bitrue (@BitrueOfficial) May 28, 2022

There are currently 210 million LUNA tokens in circulation, a much healthier supply than LUNC, which now boasts a 6.5 trillion token supply.

Another reason for LUNA maintaining its price relatively well is that 70% of the Airdropped tokens are locked for vesting for two years. This means users can only dump 30% of their LUNA, which minimizes the selling pressure for the new token immensely.

LUNC Down 16%, Losing Another Zero

On the other hand, things aren’t looking so cheerful for Terra Classic (LUNC). The cryptocurrency continues its downfall, dropping by over 16% in price over the past 24 hours, losing another zero, and currently trading at $0.00008404.

LUNC supporters on Twitter are upset with the recent turn of events. They are pushing the community and exchanges to start burning tokens, which is one option that could reduce the ridiculous supply of the digital asset and drive upward momentum to its price.

Last week, MEXC announced its recovery plan for LUNC, which includes utilizing the trading fees from the LUNC/USDT spot trading pair to buy back and burn LUNC on a daily basis.

The proposal gained over 12k votes with a whopping 98.49% approval rating, speaking to the community’s tremendous support to burn LUNC tokens.

According to MEXC Global’s official announcement, the burning will last for one month, starting May 26th and ending June 26th.

So far, MEXC has burned over 207 million LUNC, with an average burn rate of over 70 million LUNC per day.

It’s clear that Terra Classic community members are all for burning LUNC to stabilize the supply of the cryptocurrency. It’s unclear whether a burn proposal will commence from the official Terra Luna team or whether they have shifted their focus to the new LUNA token.

Other than retweets of exchanges adding LUNA to their platform, there have been no new announcements from the official Terra Luna account or Do Kwon this Sunday. Next week should shed more light on any new developments for LUNA and whether an official burn for LUNC will commence.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency.

Follow us on Twitter @nulltxnews to stay updated with the latest Metaverse news!

The post Terra Luna 2.0 Continues to Trade Sideways, LUNC Loses Another Zero appeared first on NullTX.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Luna Coin (LUNA) на Currencies.ru

$ 0.0059327 (+16.14%)
Объем 24H $285
Изменеия 24h: 11.57 %, 7d: 6.72 %
Cегодня L: $0.0059327 - H: $0.0059327
Капитализация $10.124k Rank 2215
Доступно / Всего 1.706m LUNA

luna terra exchanges lunc others classic high

luna terra → Результатов: 126


Terra (LUNA) Price Prediction 2024 – 2025 -2030 | LUNA Price Forecast

What is Terra? Terra is the new LUNA 2.0 launched by the Terra founder Do Kwon. After an incredible demise and unprecedented crash of the original Terra Luna project that went from a $60 billion protocol to almost zero, Kwonman (popular name for this conman) decided to do another round of plundering crypto noobs by […] The post Terra (LUNA) Price Prediction 2024 – 2025 -2030 | LUNA Price Forecast appeared first on CaptainAltcoin.

2023-12-25 23:50


Terra (LUNA) Price Prediction 2023 – 2025 -2030 | LUNA Price Forecast

What is Terra? Terra is the new LUNA 2.0 launched by the Terra founder Do Kwon. After an incredible demise and unprecedented crash of the original Terra Luna project that went from a $60 billion protocol to almost zero, Kwonman (popular name for this conman) decided to do another round of plundering crypto noobs by […] The post Terra (LUNA) Price Prediction 2023 – 2025 -2030 | LUNA Price Forecast appeared first on CaptainAltcoin.

2022-12-22 11:58


Цена токена LUNA подскочила на 200%

Токен LUNA новой сети Terra 2. 0 резко вырос в цене, показав прирост на 127% в течение часа: с $2 до $4,55. Криптовалюта обновила максимум с 8 июня. Монета была выпущена в конце мая взамен оригинальной криптовалюты Terra (LUNA), которая была переименована в Terra Classic (LUNC).

2022-9-10 18:05


Terra Classic (LUNC) vs. Luna 2.0 (LUNA)

A  few weeks ago, Terra (UST-USD), the third-largest stablecoin in the crypto market, was delisted from the US dollar and crashed along with its reserve asset, Luna (LUNA1-USD). This is after experiencing a massive sell-off of over 99% of its value, resulting in Investors losing all their funds and life savings as in the case […] The post Terra Classic (LUNC) vs. Luna 2.0 (LUNA) appeared first on NullTX.

2022-6-1 23:09


Фото:

План по восстановлению Luna столкнется с трудностями: отчет Huobi

После отвязки Luna и краха стейблкоина UST на прошлой неделе соучредитель Terra До Квон представил предложение с его видением «пути вперед» - плана по возрождения блокчейна Terra. Предложение предусматривает форкинг цепи Terra в новую цепь без алгоритмического стейблкоина, при этом старая цепь будет называться Terra Classic (токен Luna Classic - LUNC), а новая цепь Terra (токен Luna - LUNA).

2022-5-27 16:28


Фото:

Terra (LUNA) could have hit bottom: you can buy $LUNA token here

Most crypto investors are optimistic that Terra’s woes are almost coming to an end and that its coin the Terra (LUNA) is poised for recovery in the coming days. The rate at which LUNA was losing its value has reduced from losing over 100% per day to only about 40% per day; a sign that […] The post Terra (LUNA) could have hit bottom: you can buy $LUNA token here appeared first on Invezz.

2022-5-16 19:09


Цена Terra LUNA обновила исторический максимум благодаря инвестициям в биткоин

Монета Terra (LUNA) достигла нового исторического максимума после того, как выросла более чем на 140% по сравнению с минимумом 2022 года. Что происходит? Рост LUNA связан с беспрецедентными инвестициями компании-разработчика криптовалюты в биткоин.

2022-3-30 18:11