The LUNC price has risen by 1% in the past day, reaching $0.00016354 amid the same rise for the cryptocurrency market as a whole. Its price represents a 1% drop in the last seven days and a 32% decline in a month, with the altcoin being pulled in different directions by its ongoing token burns, on the one hand, and plans to ‘merge’ it with LUNA, on the other.
While the FTX and BlockFi collapses haven’t helped LUNC post substantial returns, uncertainty over its future has been raised by the aforementioned proposal to convert it to LUNA, its newer counterpart. However, it seems that the Terra Luna Classic community as a whole hasn’t taken positively to this idea, so it’s debatable whether it will have any real impact.
Terra Luna Classic Price Prediction as Crypto Prices Bounce Up – LUNC to $1 Soon?
LUNC’s chart reveals a gradual accumulation of momentum in the past few days, with its relative strength index (purple) hovering around 60, which suggests overall buying pressure without too much buying. Similarly, its 30-day moving average (red) is about to climb over its 200-day average (blue), forming a ‘golden cross’ that could be a sign of a breakout.
Of course, with the market remaining in a precarious condition, there’s no guarantee that LUNC will enjoy a sustained rally anytime soon, even if it’s arguably due to such a rally.
Its situation also isn’t helped by a recent proposal to use the IBC bridge to let holders swap LUNC for LUNA. This bridge is due to open at some point later this month, which is when the Terra community would expect swaps to become possible, if the proposal is accepted.
While LUNA is currently worth less than LUNC, the idea’s proposers are trying to sweeten the deal by offering some unspecified DEX-related incentives for locking up liquidity. Given that they haven’t provided details of what this might be, it’s hard to say at the moment whether they’ll be enough to attract substantial numbers of LUNC holders.
In fact, it seems that most holders probably won’t opt to swap their LUNC for LUNA, if the responses of prominent Terra Luna Classic community members/accounts are anything to go by. Some have gone so far as to suggest that the proposal, if fully realized, would effectively ‘kill’ Terra Luna Classic.
More importantly, it needs to be stressed that the proposal remains just that, a proposal. It hasn’t been accepted by a sufficient number of Terra Luna Classic validators to actually be enabled yet, and it doesn’t seem like it will.
Given such opposition, this is perhaps why the price of LUNC hasn’t been affected too much in either direction, with the coin more or less stable over the past week.
Assuming that the proposal is roundly rejected, it will disappear and the Terra Luna Classic community will be able to re-focus on restoring LUNC’s value. The main way it will be doing this is through LUNC’s ongoing token burns, with roughly 28.8 billion LUNC being burned to date.
That said, there remains some 6.88 trillion LUNC in circulation as of writing, leaving the community with a long way to go if it wants to restore the altcoin’s price. For example, a rise to $1 would imply a percentage increase of over 600,000%.
In early October, Binance helped along the supply reduction effort by introducing its own burn of trading fees, yet no other major exchange has followed its example. As such, LUNC holder should set their price targets a little lower for the time being, with $1 being some distance away.
Alternative Altcoins
Despite LUNC needing more time to recover, traders looking for big short-term gains may be able to find them if they look elsewhere. In particular, presales have done especially well in 2022, with some new coins rising by as much as 1,800% (compared to their sale prices) after listing for the first time.
Needless to say, not all presales are equal, with many resulting in projects that don’t really go anywhere. However, the three projects below all boast strong fundamentals, giving them a better chance than most of securing good gains for their early investors.
Dash 2 Trade (D2T)
Running on Ethereum, Dash 2 Trade is a trading intelligence platform that real-time analytics and social trading data, helping investors of all experience levels to make more informed trading decisions. It’s set to go live next year, with its D2T token being used to pay for the monthly subscription fees to its platform (there are two subscription tiers).
Dash 2 Trade’s presale has already raised more than $7.5 million and is due to enter its fourth stage very soon, while it will end after the fifth. It has also announced listings on BitMart and LBANK Exchange for early next year, giving early investors a good opportunity to make some decent returns.
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RobotEra (TARO)
RobotEra (TARO) is a Sandbox-style Metaverse that will enable gamers to play as robots and participate in the creation of its virtual world, including NFT-based land, buildings, and other in-game items. Due to launch in an alpha version in the first quarter of next year, it also plans to let players link up with other metaverses, in the process creating a multi-verse where NFTs from different platforms can interoperate.
1 TARO is currently selling for 0.020 USDT (it can be bought using either USDT or ETH), although this price will rise to $0.025 in the second stage of its presale.
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Calvaria (RIA)
Calvaria (RIA) is a game in which players can collect, trade and do battle with NFT-based cards. Aside from incorporating play-to-earn features, it will also enable users to play it without holding any cryptocurrency, something which could make it more popular than other blockchain-based titles.
RIA will be used within its ecosystem for purchasing in-game items and for staking, giving it a strong use case. The presale for the token has raised $2.1 million and is currently in its fifth stage, with 1 USDT buying 30.77 RIA.
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Source: cryptonews.com
