Terra LUNA Price Prediction: Has The Terraport Hack Unleashed The Bears?

LUNA is trading in the red today, down from yesterday’s closing value of $1.3315. Do Kwon’s arrest and subsequent revelations of financial misappropriation have fueled the current FUD level for the token to high values. 

What lies in store for the token in the coming weeks?

Terra Price Prediction With Technical Indicators

LUNA is trading in the red today, at the $1.30 price level, a prominent decline from its April 8 closing price of $1.3922. The bearish pressure has driven the asset below its 50-day and 200-day Simple Moving Averages (SMA), a short and long-term bearish sentiment.

The Relative Strength Index (RSI) indicator is at 43.90, descending to the oversold region of 30. This shows that the bears are in charge of the market. LUNA’s Moving Average Convergence/Divergence (MAD) is converging with its signal line and showing negative values. This also confirms the bearish trend prevalent on the daily chart. 

The technical indicators are all bearish today, suggesting a slump in the asset’s price. Expect a further price decrease until the bulls rally again to sustain the price at the nearest support. 

Terra (LUNA) Long-Term Price Prediction By Experts 

Experts have compiled long-term LUNA price predictions based on technical and fundamental analysis.

LUNA Price Prediction In 2023

Crowdwisdom predicts that LUNA will trade at $0.000170 in 2023 based on activities on its network. Changelly, predict a minimum of $2.49, a maximum of $2.92, and an average of $2.56 for the asset.

LUNA Price Prediction In 2025

Priceprediction predicts a minimum of $4.09, an average of $4.21, and a maximum of $4.80 by 2025. Technewsleader, tips LUNA to trade within the $3.53 to $4.29 range by 2025. 

LUNA Price Prediction In 2030

Tradingeducation predicts the asset will trade at $361,63 by mid-2030 and $379.71 by the end of the year. Bitnation is more conservative, predicting a minimum of $12.10, an average of $12.49, and a maximum of $12.89.

Factors Influencing LUNA’s Price 

Several factors can affect LUNA’s price action. These factors could be events in its ecosystem or macroeconomic events. Here are the factors that could influence its price.

1. Supply and Demand: If there are more buyers than sellers, the demand for the asset will increase, thus leading to a price increase and vice-versa. This is the reason tokens with an infinite supply do not have much value in the long term. Different mechanisms, such as token burns, control the token’s supply and increase its scarcity influencing its price.
2. Investor sentiments: Investors have a prominent role in any crypto ecosystem. Increased investors’ interest will help boost the price of a token. However, if FUD levels are high or there are negative investor sentiments, an asset’s price could suddenly decline.
3. Macroeconomic events: Events like global inflation rates, recession, wars, and natural disasters could affect a token’s price. Usually, whenever the inflation rates are higher, it generally reduces the value of cryptocurrencies. However, lower rates often lead to a bull run in the crypto market.
4. Crypto Regulations: Some countries and regions have strict crypto regulations and high taxation for crypto users. This could discourage potential investors and lead to a decrease in price since the adoption rate is low.

Latest Trends On The LUNA Network

Terraport Hack A Concern For Users 

Terraport Finance, a recently launched Decentralized Finance (DeFi) project on the Terra Classic network, has suffered a hack losing 15 billion LUNC tokens. The team announced in a Tweet that a breach occurred in the protocol’s liquidity wallet enabling hackers to steal funds.

However, the DeFi providers stated that the stolen funds were traced, and efforts were underway to secure most funds and blacklist wallets. 

According to the report, the hacker withdrew 9.7 million TERRA, over 15 billion LUNC, and an estimated 5.5 million USTC. The latest hack may increase the FUD level among investors in the market, leading to a price decrease on the TERRA network.

Do Kwon Ordered To Halt Crypto Liquidations

Do Kwon, Founder of LUNA And LUNC, was arrested last month amidst allegations of financial misappropriation and other charges? However, investigators have encountered several challenges as Kwon reportedly converted most of his assets to Bitcoin using offshore crypto exchanges. This makes the assets unrecoverable for the investigators.

https://twitter.com/btcsistemi_en/status/1644346253432573959

The authorities identified roughly $314 million in illegal assets linked to Kwon, with an estimated $70 million linked to the CEO. Also, South Korean authorities have informed Binance, the apex crypto exchange, to freeze all wallets associated with Do Kwon. Additionally, the properties and assets of other former Terra executives have been confiscated.

Do Kwon faces fraud charges in Montenegro, making his extradition seem quite a puzzle. Also, the United States requested his extradition as he faces criminal charges from U.S. regulators.

LUNA Alternatives 

While LUNA is down in the market today, some hot altcoin presales can reward early investors. 

Metropoly (METRO)

Real estate investment is a niche that grants investors phenomenal rewards. However, the entry barrier has always been high and a turn-off for small-scale investors. Metropoly brings blockchain-powered real estate solutions to simple users and big investors. 

Users can partake in the fractional ownership concept, owning a fractional portion of a property to earn rewards. With just $100, users can partake in this real estate revolution that has already launched its Beta testing phase.

METRO tokens power all activities and transactions on the platform. The token is in its twelfth presale stage and is currently worth $0.08. The presale has been a success, with $1.2 million raised so far. 

METRO’s utility will keep the project relevant in the crypto space now and in the future. Also, its eventual listing on exchanges will usher in a price increase for the asset. 

Ecoterra (ECOTERRA)

Ecoterra is a platform promoting the Recycle-to-Earn (R2E) project that uses blockchain technology to encourage recycling habits. The recycling is done with a Reverse Vending Machine (RVM) that will reward recyclers with ECOTERRA tokens. Token holders can give to charitable green energy causes such as tree planting activities and beach cleanups.

Ecoterra supports individuals and companies alike that hope to promote the recycling trend. One ECOTERRA token is currently worth $0.04 and can be purchased using ETH, USDT, or a credit card. 

With pollution becoming a major global challenge, this green initiative will help eliminate the harmful effects of carbon emissions and other pollutants.