Terra Luna Classic

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Terra Luna Classic (LUNC) has been plummeting since the start of 2023 and has dropped by 20% in the last month. Despite the launch of LUNC after LUNA crashed in 2022, this turbulent cryptocurrency has not been able to offer high returns in the market. 



As an alternative to Terra Luna Classic, we will be looking at two new projects which are already pumping during their presale rounds. Keep reading to learn more about two brand new presale tokens – Wall Street Memes ($WSM) and Launchpad XYZ ($LPX). 



Why is the Terra Luna Classic Dropping?



Terra Luna Classic (LUNC) is the rebranded version of LUNA, the old cryptocurrency token that existed on the Terra blockchain. In May 2022, LUNA crashed and acted as a starting point for a huge bear market in the cryptocurrency space. 



The token crash occurred after the blockchain’s algorithmic stablecoin, ‘UST,’ lost its 1:1 pegging against the U.S. dollar last year. This all happened after the old LUNA token’s market cap dwindled after the supply fell below that of UST’s. Back then, the LUNA token acted as collateral for the UST stablecoin. 



After this, the token crashed and the investors lost all their holdings. In May 2022, Luna Classic and the new Genesis block went live. While the cryptocurrency has recovered after the catastrophic downfall in the past year, there is still a lot of uncertainty and a lack of faith in this cryptocurrency project. 







In 2023, when most top cryptocurrency tokens offered higher returns, LUNC struggled to offer any returns. From a price of $0.0002 in February 2023, $LUNC has corrected to a live price of just $0.000085 per token. This equates to a price correction of more than 57%. 



In the last 30 days alone, the token is down by 20%. Along with the lack of faith that the market has in this cryptocurrency, the poor technicals are another reason which could indicate why this token is not performing better. 



According to TradingView, the $LUNC token is in a ‘Sell’ zone in 14 of the 26 key trading technicals at the time of writing. The exponential and simple moving averages indicate that the token is not offering much support in the short term. 







Thus, there is no guarantee of when LUNC may recover or start offering returns to investors. 



As an alternative to this cryptocurrency, the sections below will review two new crypto projects with high growth potential in 2023 and beyond. 



Wall Street Memes – the New Meme Coin That’s Raised Over $2.5m in Presale, Being Backed to Explode



While coins like LUNC struggle, one token making waves is Wall Street Memes, a new meme coin that’s now on presale.



Unlike other new meme cryptos such as Pepe and Milady, Wall Street Memes is an established group with a community of over 1 million members. This group has existed since 2019 and has seen influential celebrities like Elon Musk interact with its social media pages. 







Wall Street Memes has released $WSM, its native token, on presale. While the $WSM token does not offer any utility, it has the backing of a large meme movement. In 2021, Wall Street Memes also released its own NFT legacy project – Wall St Bulls. 



The first collection consisted of 10,000 NFTs and was sold out in 32 minutes. Wall Street Memes aims to generate wealth for its community through the $WSM token. Notably, $WSM will be a 100% community-based token. 



From a total token supply of 2 billion, 50% has been allocated for the ongoing presale. A further 30% will be offered as community rewards on the ecosystem, while the remaining 20% will be used to maintain DEX and CEX liquidity. 



The presale will consist of 30 rounds, as the price of $WSM increases from $0.025 to $0.0337 by the final round.  At the time of writing, $WSM is priced at just $0.0265 per token. Wall Street Memes has raised more than $2.6 million in just a week since the presale started.



By the end of the presale, Wall Street Memes aims to raise more than $30.57 million. Interested investors can join the Telegram group and read the whitepaper for more updates on this platform. 



Visit Wall Stree Memes Presale



Launchpad XYZ – New Web3 Investment & Analytics Platform That’s Racing Through Presale



Another new token making waves is $LPX, the native token of Launchpad XYZ, which is a new crypto platform offering a single entry point for accessing multiple Web3 services. In this ecosystem, users can create a new Web3 wallet from where they can swap tokens, interact with DApps (Decentralized Applications), and gain self-custody of assets. 







One can benefit from Launchpad XYZ by holding $LPX, the native cryptocurrency. Those who stake a monthly average of 10,000 $LPX can get discounts on trading fees. Furthermore, through Launchpad XYZ’s presale portal, users can also get guaranteed access to new Web3 presale listings. 



With Launchpad XYZ, users can access an NFT decentralized exchange. By staking $LPX tokens, you get reduced fees and trade hundreds of asset pairs. One can also leverage $LPX to purchase fractionalized assets, gain trading insights on existing tokens, and access trading terminals. 



Currently, $LPX is available to buy on presale for $0.0445 per token. The listing price is set at $0.0565 per token. From a total supply of 1 billion, 250 million tokens are being allocated equally over 10 presale rounds. 



Since the presale started, Launchpad XYZ has raised over $843K. Join the Launchpad XYZ Telegram group to stay updated with the project. 



Visit Launchpad XYZ
The post Why Terra Luna Classic Price is Dropping? These New Tokens Pump appeared first on BeInCrypto.


Terra Luna Classic (LUNC) has been plummeting since the start of 2023 and has dropped by 20% in the last month. Despite the launch of LUNC after LUNA crashed in 2022, this turbulent cryptocurrency has not been able to offer high returns in the market.  As an alternative to Terra Luna Classic, we ...

beincrypto.com

Why Terra Luna Classic Price is Dropping? These New Tokens Pump

Recently, the Terra Classic ecosystem has been in the spotlight due to its developmental efforts, with the testnet upgrade to version 2.0.0 being the latest advancement. Contrary to general expectations, this recent improvement hasn’t translated into the price of the Terra Luna Classic token (LUNC).
Since the start of February, the price of Terra Luna Classic has been on a downward trend. And it can be said that the project’s recent growth hasn’t done much to halt this decline.

LUNC Price Falls By 15% In Single Week
Over the past seven days, the Terra Luna Classic market has experienced a drastic price decline, losing more than 15% of its value. This bearish period was preceded by a week in which the price of LUNC was relatively stable, moving in a horizontal direction.
However, a broader look at the market shows that Terra Luna Classic has been on a downward trend in the past few months. Since the beginning of February, the token has recorded a price fall of nearly 53%. 
According to data from CoinGecko, LUNC is currently valued at $0.00009549. In the past 24 hours, the value of this cryptocurrency has dropped by about 5%, falling beneath the crucial $0.0001 level in that time. 


The last time Terra Luna Classic made it below this price point can be traced back to August 2022 – the aftermath of the Terra ecosystem collapse. With the $0.0001 level failing to hold, the token would hope to find rest at its next support level of $0.00009275, even though the current sentiment is strongly bearish.
L1JTF Proposes Mainnet Upgrade To V2.0.0
In other news, the L1 Joint Task Force team just completed the upgrade of the rebel-2 testnet to v2.0.0, integrating various new features for better functionality and security. Notably, this serves as a preliminary step towards the Terra Classic mainnet upgrade.
The testnet was upgraded to v.2.0.0 with Cosmos SDK v0.45 and will provide a secure and controlled environment for the L1 team to test upgrades on the mainnet. The testnet upgrade, completed on the 4th of May, was announced on Twitter by Till, a part-time developer for the L1 team.

Ok.
We upgraded the rebel-2 testnet to v2.0.0 with Cosmos SDK v0.45.
Purrs like a cat now. Thank you for participating in the upgrade test:@StakeBin @edk208 @Allnodes@Lunanauts_Lunc@StellarDrift__ @SolidVote
— fragwuerdig (@frag_dude) May 4, 2023

Following the successful testnet upgrade, the L1 team’s project manager submitted a proposal aimed at upgrading the Terra Classic mainnet to v2.0.0. According to the proposal document, the mainnet upgrade implementation is slated for May 17. This enhancement will implement a transition to Cosmos SDK v0.45.13 and Tendermint v34.24.

#LUNCcommunity Please review and comment on the proposal to upgrade to v2.0.0 at the following location:https://t.co/6B60jBpo7r
— LuncBurnArmy (@luncburnarmy) May 5, 2023

It is important to mention that these upgrades are in accordance with Terra Classic’s revitalization plan. Having recorded considerable success in Q1 2023, the development team looks set to reach more milestones in Q2 2023.







Recently, the Terra Classic ecosystem has been in the spotlight due to its developmental efforts, with the testnet upgrade to version 2.0.0 being the latest advancement. Contrary to general expectations, this recent improvement hasn&#8217;t translated into the price of the Terra Luna Classic toke...

newsbtc.com

LUNC Continues Downward Trend Despite Testnet Upgrade

The Switzerland-based crypto ETP issuer – 21Shares – will reportedly terminate five of its funds and delist another one due to low interest from investors. 
Arielle Pennington – Head of Global Communications – claimed the firm will keep offering its other products that enjoy a solid level of demand.
Scraping Some ETPs
As revealed by Bloomberg, the company will close down the following five funds: the 21Shares S&P Risk Controlled Ethereum Index ETP (ticker SPETH), the 21Shares S&P Risk Controlled Bitcoin Index ETP (ticker SPBTC), the 21Shares DeFi 10 Infrastructure ETP (DEFII), the 21Shares USD Yield ETP (USDY), and the 21Shares Crypto Layer 1 ETP (LAY1). 
Traders will no longer have access from April 6. It will also delist the 21Shares Terra Classic ETP (LUNA) on June 12. 
The main reason behind the move is the low interest, as they have total assets of less than $700,000.
Pennington outlined that the demand for the other ETPs remains strong, adding that January saw a significant amount of inflows. During that month, assets under management for the 21Shares Bitcoin ETP (ABTC) and the 21Shares Ethereum ETP (AETH) surpassed $200 million.
The Fed’s policy of lifting interest rates has negatively affected some products, such as ETPs, and could be one reason behind the slide of the cryptocurrency market last year. Other factors include the countless scandals and collapses in the industry, with FTX, Terra, and Celsius among the infamous examples. 
However, the market condition has improved a lot since the start of the year. Bitcoin and many altcoins surged to multi-month peaks amid the banking cataclysm in the US. 
In addition, the industry could further benefit if the Fed puts an end to its aggressive rate hikes and thus give a breath of fresh air to risk-off assets. The initial expectations are that the central bank will increase interest rates by 25 basis points next week, while some believe they might not touch the percentage after lifting it for eight consecutive months. 
The BTC ETF Was Rejected Again
Apart from offering ETPs, 21Shares displayed its plans to introduce a spot Bitcoin ETF on the Cboe BZX Exchange in a joint effort with Ark Investment Management. Nonetheless, the US SEC rejected the application nearly two months ago, as it did in the spring of 2022.
It maintained that the Cboe BZX Exchange did not “demonstrate that its proposal is consistent with the requirements” to prevent price manipulation and scams.
The SEC has previously dismissed similar efforts launched by VanEck, NYDIG, Grayscale, and other organizations. 
The post 21Shares Halts Several Crypto Products Citing Decreased Interest (Report) appeared first on CryptoPotato.

The firm will supposedly close down five crypto ETPs and delist the 21Shares Terra Classic ETP (LUNA).

Terra Luna Classic price	$0.000085
Low - High 24H	$0.000085 - $0.000085
Market cap	$498.04M
Volume 24H	$12.33M
All time high	$119.18 -100.00% April 5th 2022
All time low	$0.000001 8398.90% May 13th 2022
Genesis date	N/A

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