The Terra Luna price has barely shifted today, rising by 0.5% in the past 24 hours and reaching $1.33. This marks a 3% decline in a week and 20% fall in a month, with the altcoin settling into a bearish pattern that shows no obvious sign of ending in the near future.
LUNA is the newer altcoin running on the Terra 2.0 blockchain, which launched in the wake of the infamous Terra collapse that happened last May. And given that much of the community-led activity seems to be focused mainly around the older Terra Luna Classic network, it’s hard to imagine how LUNA can enjoy a big rally towards $100 in the near future, particularly when it’s no longer linked to an algorithmic stablecoin that would boost its price.
But in the world of cryptocurrency, anything is possible and prices can rally much higher than expected. With that in mind, here’s where LUNA is heading next.
LUNA’s indicators are somewhat mixed at the moment, with its relative strength index (purple) dropping under 60 today after reaching 70 at the very start of the year. Likewise, its 30-day moving average (red) is hovering around its 200-day average (blue), with the implication being that it could easily go either way.
LUNA’s price history has more or less been one of decline ever since it was launched as part of Terra 2.0 in late May. It did surge to (an all-time high of) $18.87 on May 28, but since then it has fallen by 93%, with observers questioning whether a new LUNA without an algorithmic stablecoin would have any fundamental value.
So far, it seems that such criticisms are on-point since little has happened with Terra 2.0 since founder Do Kwon launched it back in the early summer. There was a proposal put forward by developers in October to adopt a four-year plan that would boost Terra 2.0’s growth by earmarking LUNA for development, but nothing has been heard about this since.
Similarly, a recent proposal to create a bridge between Terra Luna Classic and Terra 2.0 (so that LUNC and LUNA could be swapped) seemed to be very unpopular with much of the Terra Luna Classic community.
As such, there isn’t really a realistic expectation that Terra 2.0 will experience any organic growth and adoption in the near future, and that LUNA will rally as a result. Instead, traders should expect it to hover around its current level until the next bull market eventually arrives, and should also brace themselves for further losses.
This is particularly the case when Terra 2.0 is so heavily associated with Do Kwon, who remains a fugitive. It’s entirely arguable that serious developers and investors want little to do with a project whose principal founder and figurehead could be in prison in the foreseeable future.
Given just how risky investing in LUNA could be, traders may prefer to look to other altcoins that don’t have so much baggage, and that have more promising fundamentals. Also, while the market remains bearish, one way of beating it has been to invest early in presales, which had an excellent 2022.
For instance, Tamadoge (TAMA) rose by as much as 1,800% compared to its presale price in October, when it was listed on OKX. This performance was topped by Lucky Block (LBLOCK), which witnessed an increase as high as 6,000% in February, compared to a sale price of $0.00015.
Hoping to match such returns, the three coins below are currently seeing out their own respective presales, with each boasting some very solid fundamentals and promising business models.
Running on Ethereum, Fight Out (FGHT) is a new move-to-earn app that combines real-life workouts with Web3. Going beyond the template set by early M2E platforms such as STEPN, it tracks and rewards a wide range of workouts, including boxing, weightlifting and yoga, while also offering a range of in-app and IRL courses at its own branded gyms.
Launched last month, its token sale has already raised over $2.6 million, with 1 FGHT currently going for $0.0166 (this will increase in later stages of the sale). Investors can participate by going to its website and connecting their Connect Wallet or MetaMask wallets.
Visit FightOut Now
Another Ethereum-based platform, Dash 2 Trade is a trading intelligence app that will launch in the next few months, when it will provide real-time analytics and social trading data. It offers investors of all experience levels all the resources and tools they could possibly need to make more informed trading decisions.
The sale of its D2T token has raised over $13.1 million and is due to end in only two days. It has also announced listings on BitMart, Changelly Pro, and LBANK Exchange for early 2023, with the first due on January 11.
Visit Dash 2 Trade Now
C+Charge (CCHG) is a new peer-to-peer payment system for electric vehicle (EV) charging stations, with the overarching aim of widening access to carbon credits. Running on BNB Chain, it launched the sale for its native CCHG token before the end of 2022, with CCHG set to be used within its network by EV owners to pay to charge their vehicles.
C+Charge will also reward users with carbon credits for charging their EVs at its stations, while the platform has already signed a deal with Perfect Solutions Turkey, adding 20% of the EV chargers in Turkey to its network. This signals its early promise and shows how serious it is about becoming a global leader in EV charging.
Visit C+Charge Now
A quick 3min read about today's crypto news!
A quick 3min read about today's crypto news!