LUNC stands out amid the crisis with a resilient course. The small Terra coin is becoming a symbol of resilience in crypto but some shadows still remain.
LUNC resists collapse for the moment
Is the phenomenon due to the past of LUNC, which itself faced the crisis following the collapse of USTerra? Or has the project team sufficiently protected itself against adversity? Still, LUNC continues to amaze the crypto sphere. The piece of Terra, which everyone said was lost, was able to create a new place for itself on the market. While the latter falls again, she seems to resist again and again, even managing to stand out from the others.
Indeed, although LUNC has also suffered the turnaround linked to the fall of FTX, the Terra project token is characterized by a price that does not seem to know the crisis. Indeed, its value rose by 14% yesterday and by 5% in the last 24 hours.
This phenomenon can be justified in two ways. First, by the publication of the US inflation index report. Now raised to 7.7%, it has reassured investors and attracted them back to the side of crypto. Secondly, a small period of respite seems to be taking shape on the course of cryptocurrencies after the stupor generated by the FTX scandal. As the liquidations slowly subside, the tokens are recovering in value. With a BTC having also regained 4% since yesterday and an FTT which finally seems to have stabilized, LUNC and others are content to follow the movement.
Investors remember the token’s past
While the cryptocurrency market looks grim, many in the crypto sphere remember the resurgence of LUNC. Thanks to a whole series of initiatives ranging from community gathering to the establishment of a burn system, the token has been able to make a name for itself. Enough to suggest that projects fearing for their future could take an example.
In addition, while other more popular and reputedly more solid currencies grimace, a handful of profit-crazed investors could take refuge with LUNC in the hope of benefiting from its still green course. This phenomenon could also be exacerbated by the massive advertising campaign the coin community is indulging in, touting its resistance to the crypto crash. Others, still, are delighted with the end of a competition with Solana or even with the repeg of the USTC.
Be careful though, the crisis is not over yet and LUNC may still succumb to collateral damage. One of the Terra Rebels devs is also trying to calm things down, saying that at the rate the token destruction mechanism is going, it will take several years to see it get to the promised dollar. Finally, by the admission of a LUNC ambassador, the project still reports internal difficulties and supply problems.
So it would seem that, despite its attractive price for investors looking for shelter, the project still needs to solidify if it wants to outperform its competitors.
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