{"id":387497,"date":"2023-04-22T05:00:49","date_gmt":"2023-04-22T05:00:49","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=387497"},"modified":"2023-04-22T05:02:50","modified_gmt":"2023-04-22T05:02:50","slug":"lunc-price-drops-by-5-as-bitcoin-slumps-closer-to-its-25k-support","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/lunc-price-drops-by-5-as-bitcoin-slumps-closer-to-its-25k-support","title":{"rendered":"LUNC Price drops by 5% as Bitcoin Slumps Closer to Its $25k Support"},"content":{"rendered":"

LUNC, LUNA Classic, was one of the many cryptocurrencies to have uplifted since the beginning of 2023. As people started to pull the crypto economy back from its wintery grave thanks to fresh rumors about the Fed Rate, Bitcoin touched its $20k mark for the first time. <\/span><\/p>\n

And as BTC took a step up, the LUNC price closely followed. But the token was decoupled from Bitcoin enough that BTC reaching $30k didn’t have any positive effect on it. LUNC, in fact, started trading in bearish zones during the time Bitcoin reached the $30k mark. <\/span><\/p>\n

But the token was quick to replicate the negative price action as Bitcoin moved away from its $30k mark that is making it fall to each the $27k level, which has pushed the LUNC price down by more than 5%. Will it make a return? <\/span><\/p>\n

Terra Classic’s Weekly Chart has been Bearish Since the Beginning of 2023<\/b><\/h2>\n

People automatically assume that a crypto asset’s price to rise when Bitcoin gains more interest. While it is true for the most part, Terra Classic’s performance is an outlier. While it climbed during the initial days of 2023 and formed four green candles in a row, it can to a stop on 9th January 2023. <\/span><\/p>\n

The LUNC Price during that time was largely stable for a week, until 16th January, when the weekly highs and weekly lows matched, which signaled a quick reversal. Terra Classic has been falling since then.<\/span><\/p>\n

LUNC Price has been Moving Below the 50-Day MA Since March<\/b><\/h2>\n

The LUNC price has been moving leagues below its 50-day moving average since March 2023. And the consecutive reds that have formed in the trading chart show that this token will fall further. <\/span><\/p>\n

That said, the Relative Strength Index currently is 27, indicating that it is undervalued. But is this token really undervalued?<\/span><\/p>\n

The token has rarely shown any major activity recently, and the community has been mum about it. And as we looked at the LUNC community’s Twitter handle, we failed to find anything that could create major buzz for this asset. Considering these facts, LUNC is probably not an undervalued token – it is just one that people don’t care about right now. <\/span><\/p>\n

LUNC Emerged From the Ashes of the Old Terra Luna Blockchain, but Can it Return?<\/b><\/h2>\n

The fall of LUNA upended the entire cryptocurrency market, plunging it into, what many say, is the longest crypto winter to date. Terra Classic became an independent crypto community that has done everything in its power – from the #lunaburn campaign to introduce staking – to keep the token relevant with moderate success.  <\/span><\/p>\n

In Q3-2022, LUNC saw many positive price actions that saw it reach many highs. That was thanks to a community that has always been passionate about LUNC because of their stray feelings towards the original LUNA tokens. However, all those campaigns only brought in short-term upsides.<\/span><\/p>\n

And Bitcoin’s recent uptick did the same. It only delivered a short-term gain for LUNC, and the continued fall that is now happening is pushing LUNC close to its $0.0001 mark. <\/span><\/p>\n

But can it return? While nothing is certain in the crypto space, LUNC has to grow up massively if it is ever to go back to its pre-LUNA crash values. And that would require an exponential upswing in its price, which is not happening any time soon. <\/span><\/p>\n

So, if you are interested in making money from crypto, your best bet is investing in an asset that has more upsides than LUNC and is available outside the listing charts. <\/span><\/p>\n

Ecoterra is a green-crypto classic that has Gotten The Crowd Riled Up<\/b><\/h2>\n

While LUNC had its day to shine last year, nothing in its current price chart indicates that it would ever make a comeback. Your best bet is investing your assets and energy in another green crypto with much better fundamentals. <\/span><\/p>\n

Ecoterra<\/span><\/a> is a green cryptocurrency project that has recently surfaced as a presale and has continued to entice the crowd with its Recycle 2 Earn mechanics. This project is an ecosystem where recycling your waste materials like glass or plastic will reward you with crypto. <\/span><\/p>\n

And the way that it has implemented this method is nothing short of simple. All you need to do is upload the recycling receipt that you receive from the reverse vending machine onto the Ecoterra app and get ECOTERRA tokens in return. <\/span><\/p>\n

ECOTERRA tokens have several upsides beyond being just another tradable asset. You can use it to get a subscription to the Ecoterra educational platform. <\/span><\/p>\n

The Ecoterra educational platform is a collection of blogs, articles, and videos that will give you access to reading materials and lessons that will make you environmentally friendly and how to leverage the green measures you take to earn more profits. ESG companies will also benefit from this portion of the app. <\/span><\/p>\n

But there are three more utilities that Ecoterra has, which is making the entire cryptocurrency community pay more attention to the projects. <\/span><\/p>\n

Impact Profile<\/b><\/h3>\n

Ecoterra is an app meant not only for individuals but also for ESG enterprises that want to grow truly sustainably. With the Impact Profile, companies can track the green moves they have made to better the environment and earn renown as an eco-friendly enterprise. <\/span><\/p>\n

Recycled Materials Marketplace<\/b><\/h3>\n

ESG companies can reach out to the recycled materials marketplace, where they can use Ecoterra tokens to buy recycled materials from recycling companies. The ECOTERRA tokens would be used as a mode of transaction for buying said materials, and users will be rewarded in return. <\/span><\/p>\n

Carbon Offset Marketplace<\/b><\/h3>\n

The second element of Ecoterra’s app is the Carbon Offset marketplace which will deliver a transparent way to buy and sell carbon credits. This decentralized way to trade carbon credits will prevent issues like double-selling and is another way to make the environment better. <\/span><\/p>\n

These factors are priming Ecoterra to become another 100x crypto this year. <\/span><\/p>\n