This development has pushed BTC to slide lower and could result in a consolidative structure over the next few days. Shiba Inu price action is set to continue its bullish path as whales are finally entering the trading action. Despite LUNA 2.0’s successful airdrop on Binance, token distribution did not occur as planned. LUNA and UST https://www.bitcoininsider.org/article/190732/luna-20-price-forecast-can-new-cryptocurrency-recover holders have received less LUNA 2.0 than expected from the airdrop. LUNA 2.0 price has nosedived since its launch on May 28, 2022, posting 23.7% losses overnight. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications.
- The value of LUNC was partly driven by the demand for USTC, which will not affect LUNA as there will be no stablecoins on Terra 2.0.
- Investors and traders are keen on knowing where this new boat will take them, many are raising speculations over the price targets, and many question its utility.
- Some remedies that have been suggested are raising capital that is close to $1.5 billion, requesting traders to shift to Anchor Protocol or keep a lock-in time frame for UST trading.
- Both blockchains still exist and operate separately, which can cause confusion for new investors.
- Polygon is different from many other cryptocurrencies on the market.
- If you buy LUNA, you will need to keep it somewhere — and there are a range of wallets available.
The goal of this revival will be to ensure that the strong community that existed before the collapse continues. The same is true for some of the most important projects that were built in Terra like Astroport, Station, and Stader. CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money. Desktop wallets —Free software wallets that can be downloaded onto desktops, these tend to be a bit more secure than web wallets and are almost as convenient. They are therefore also suitable for small-time LUNA holders and somewhat frequent traders.
Investors, on the other hand, appear to be able to receive their benefits at any time. The existing LUNA token will be called LUNC, while the new LUNA 2.0 token will be known as LUNA. The new chain will airdrop LUNA tokens to holders of LUNC , USTC , and aUST . Professional proof-of-stake validator, we provide a reliable infrastructure and support +20 blockchains accross the Cosmos ecosystem, with +30,000 customers. At the time of writing, the price of LUNA stands at $6.93, and the market cap is roughly around $1.5 Billion according to coinmarketcap. The new token, LUNA, was said to be distributed through an airdrop- that later took place on the 28th of May.
Additionally, the platform based its opinion on other “free money” airdrops in the past. For example, in the case of Uniswap and Ethereum name service airdrops, the traders pulled a bank run after receiving the tokens out of volatility fears.
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With a total supply size of 1 Billion, the tokens were to be distributed to specific users in particular ratios. As the crash progressed, several popular exchanges decided to either delist LUNC or halt trading. The crash was a result of a sudden liquidation of UST, where $285 Million worth of UST was liquidated & this led to UST losing its alignment with the US dollar.
The investigator believes the technology behind Terra doesn’t matter; LUNA 2.0 could crash as exchanges use the pump-and-dump strategy again on the token. Those making very long-term investments likely don’t care about short-term price fluctuations, so the timing of the investment isn’t that important. Shorter-term investors may prefer to wait for a dip in LUNA price before buying in the hopes of increasing their returns during that market cycle. Traders, on the other hand, will likely use technical analysis to decide when to make trades according to their chosen strategy.
Luna 2.0 Price Prediction for 2022
Still, the token has yet to slice through the $7.80 resistance level to validate the optimistic outlook. Breaching such a vital supply wall could allow LUNA 2.0 price to surge to $10.70.
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Dogecoin price seems stuck sideways to lower, whereas peers like Shiba Inu are set to boom. DOGE price action on the ropes as traders select where they allocate LUNA their money. @scottmelker, a leading crypto trader and investor and host of the Wolf of All Streets podcast, has a bearish outlook on LUNA 2.0.
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Terra 2.0 came about after the crash of the original LUNA token and its dollar-pegged stablecoin . There will be no stablecoins on the new chain, which aims to provide a new home for the many decentralised applications that were built on Terra Classic. YEREVAN (CoinChapter.com) – A case study from analytical platform Freedom Research asserted that no amount of LUNA 2.0 airdrop could resurrect the former stablecoin crash cushion. The previous LUNA token, now referred to as LUNC or LUNA Classic, suffered a liquidation crash that wiped out close to $40 Billion of investors’ https://www.bitcoininsider.org/article/190732/luna-20-price-forecast-can-new-cryptocurrency-recover wealth in a matter of days. So, as advisable in the case of other cryptocurrencies as well, investors should put in thorough research and study the price movements carefully before investing in volatile cryptos such as LUNA. Given the knee-jerk reaction LUNA 2.0 received upon its debut and the extremely volatile price movements over the last few days, investors are advised by experts to “research well” before taking a call. Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date.
The going rate of Luna 2.0 on most platforms seems to be on similar ranges. The new LUNA token will be airdropped for those who stake their existing LUNC tokens, residual USTs, and other essential tokens How do brokers rate LUNA 2.0? on the LUNC ecosystem. Any investment carries risks, and crypto is a high-risk investment at its best. But there are probably more stable coins, including bitcoin and ethereum, to invest in today.
The site credits Terra’s “fast-growing eco-system,” noting a “massive market for Terra coins,” for the crypto’s potential. Terra 2.0’s LUNA launched on May 28, 2022 with a price of $17.80 per coin.