The digital currency Terra Luna Classic (LUNC) has seen an almost 9% leap within the past day, largely due to the sanction of two major governance proposals. These aim to bolster the altcoin and its companion stablecoin, USTC. Currently valued at about $0.00006136, it’s been a mixed bag for LUNC recently; coin worth is up by around 7% in the past week, but it’s fallen 4% in the last month and a significant 57% from the year’s start.
The sanctioned proposals may well lead to a return of LUNC worth to earlier heights, heralding good news for current holders. Cumulated market indicators have long suggested the altcoin could stage a substantial rally. For instance, LUNC’s relative strength index has risen promisingly to 50 today from only 30 just a week ago. Conversely, its 30-day moving average lags behind its 200-day average, indicating that it could have been excessively devalued and is due for a significant comeback.
Nonetheless, the reality that LUNC has been consistently depreciating for nearly the entire year cannot be swept under the rug. This could suggest that today’s gain is merely a momentary fluctuation.
But it’s not all gloomy; the Terra Luna Classic community welcomes Proposal 11784, which seeks to halt all minting of USTC completely, a pivotal move towards restoring the stablecoin to $1. Alongside this, Proposal 11785 urging Binance to start burning USTC, and by doing so, enhance LUNC’s price, has also received acceptance. Remember, though, that these approvals do not automatically guarantee execution; thus, LUNC holders need to be prudent.
Conversely, a new presale token called Meme Kombat (MK) presents an interesting alternative, offering prospects of substantial rallies even in a bearish market. It’s an AI-driven platform pitting various memes against each other in automated matchups, awarding winners MK tokens, which can be staked for a passive income. Tokenomics details reveal MK will have a 12 million total token supply, distributed among presale, staking and battle rewards, liquidity and community rewards.
Though the crypto market is notoriously volatile, taking meticulous investment decisions can potentially foster healthy portfolio growth. To conclude, while LUNC grapples with its fluctuating trajectory, upcoming projects like MK harnessing next-gen tech solutions could offer freshly-brewed opportunities. Whether you’re a long-time LUNC holder waiting for the coin to reclaim its previous glory or a new player exploring supercharged tokens like MK, it’s a thrilling time to be a part of the ever-evolving crypto universe.
Source: Cryptonews
