• The Terra Luna Classic (LUNC) price has risen by 5% in the past 24 hours, reaching $0.00013703.
• A proposal to reverse a recent move to re-mint 50% of all burns is responsible for the latest surge.
• Other altcoins such as Lucky Block (LBLOCK) and FightOut (FGHT) have witnessed increases as high as 6,000% and 3000% earlier this year, respectively.
The Terra Luna Classic (LUNC) price is finally on the move after a period of stagnation. After rising by 5% in the past 24 hours, LUNC is now trading at $0.00013703. At one point today, the altcoin was up by as much as 7.7%, although its current price still means it’s down by 17% in a week and by 10% in a month.
The current surge in the LUNC price can be attributed to a proposal to reverse a recent move in which the community had voted to send 50% of all LUNC burns to a community development pool. It appears that this new proposal will be accepted, which is why LUNC holders are optimistic that the altcoin can get back on track and significantly reduce its supply. This, in turn, has caused the relative strength index (RSI) to shoot up, indicating substantial momentum and buying pressure.
The hope is that LUNC will eventually climb to $1, although other, more conservative predictions have been made, with Luna Classic HQ, for instance, proposing a target for the end of the year of $0.0045. This would imply a gain of over 3,000% in the next couple of weeks, something which seems out of reach, given the current state of the market.
The key mechanism for a LUNC rally will remain token burns. Binance revealed it burned 6.4 billion LUNC in November alone, with the overall burn count now standing at 36.3 billion. Furthermore, the community appears to be rallying behind a proposal to increase the on-chain burn rate, which could provide the market with the necessary push to increase the LUNC price.
Meanwhile, other tokens are also attracting attention, with their presales providing the potential for big returns for early investors. Two of the most notable examples are Lucky Block (LBLOCK) and Battle Infinity (IBAT), which both witnessed increases of up to 6,000% and 3,000%, respectively, compared to their initial presale prices of $0.00015. Similarly, Tamadoge (TAMA) rose by as much as 1,800% after listing on OKX in October, showing that substantial gains can be made if traders invest early in token sales.
This is especially true of the presales currently underway, such as FightOut (FGHT). This is a move-to-earn app running on the Ethereum blockchain which tracks and rewards a variety of workouts, including boxing, weightlifting and yoga. Since launching last week, its token sale has already raised over $2.2 million, with $1 currently buying you 60.06 FGHT tokens.
Dash 2 Trade (D2T) is another promising token sale. This trading intelligence platform is set to launch in Q1 2023 and will provide real-time analytics and social trading data. It has already raised over $10.4 million, with listings on BitMart, Changelly Pro, and LBANK Exchange due in early 2023. Finally, C+Charge (CCHG) is a peer-to-peer payment system for electric vehicle charging stations, with its sale of CCHG tokens having raised over $2.2 million.
In conclusion, the Terra Luna Classic market looks set to see some substantial changes in the near future, with the proposal to reverse the 50% burn set to have a positive effect on its price. Meanwhile, numerous tokens are also currently holding their presales and are offering investors the chance to make substantial gains. Investing in these tokens at their presale stage could prove to be a very lucrative decision.