Ekta Mourya Ekta Mourya
FXStreet

Crypto analysts and proponents have evaluated Luna Classic’s recent price gains. Do Kwon’s response to the arrest warrant issued by a South Korean court and LUNC’s burn mechanisms are two key events, driving Luna Classic higher. 
Also read: US Department of Justice wants to pull out all the stops in fight against crypto crime
Will Chen, a crypto developer identified the biggest challenge facing Luna Classic in the following months. Chen clarified the incentives for Luna Classic holders. Developers and holders of Luna Classic are curious about large wallet investors, entities that control the LUNC network. 
Based on data from crypto intelligence tracker Santiment, LUNC, the token of the Terra Classic chain has garnered massive crowd attention as LUNC-related keywords topped social media search history. 
The biggest challenge $LUNC will have to face in the following months is clarifying the incentives.

Who are the $LUNC whales? Who controls the network?

I would imagine it hard to attract projects to build on Terra Classic until the rebels figure out who they're working for.
LUNC entered the spotlight yet again following a recent price rally in response to the planned tax burn of 1.2%. While the gains were quickly reversed with profit taking by LUNC holders, Do Kwon shed light on the situation where Korean authorities issued a warrant for his arrest. 
Kwon tweeted to the crypto community, addressing the concern of his arrest and assured LUNC holders. Kwon said he is in the process of defending ourselves in multiple jurisdictions. Kwon told community members that Terraform Labs employees hold themselves to an extremely high bar of integrity, and look forward to clarifying the truth over the next few months. 
Chen’s concerns is that Terra Classic’s future looks bleak since it is challenging to attract projects to build on Terra Classic. Chen was quoted as saying, it might be,
hard to attract projects to build on Terra Classic until the rebels figure out who they're working for.
LUNC holders are pushing for 1000x gains in Luna Classic price. LUNC yielded 262% gains over the past month, Luna Classic is therefore one of the altcoins with highest 30-day return and a higher 90-day ROI compared to Bitcoin.
Amidst speculation and the recent update from Terraform Labs and Do Kwon, holders have flooded Twitter with mentions of 1000x gains from LUNC. 
#LUNC holding strong during #cryptocrash. Why? It's a community owned L1 chain. It's not owned by banks and VCs. Burn tax coming #LUNACLASSIC will #1000x https://t.co/OVz6vvpo6w pic.twitter.com/b22WUmYmwd
 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Crypto.com price has been on a downtrend since it formed a peak on August 3. This development has caused CRO to produce a string of lower lows and lower highs. However, on closer inspection, the altcoin reveals a liquidity run and a potentially bullish setup. 
Ethereum’s namesake and a hard fork, Ethereum Classic, is one of the only few cryptocurrencies that has recovered significantly over the last couple of months. But impacted by the broader market conditions, ETC is currently looking at a short-term dip.
Bitcoin price has breached all of July and August liquidity levels. A bullish hammer is minutes away from printing while the RSI hovers back into bullish territory. Invalidation of the bullish counter-trend idea is a breach of the swing low at $18,250.
Dogecoin price could witness a profitable rebound in the coming days. Dogecoin price is worth keeping on your watchlist if you are an active day trader. On September 19, the notorious meme coin showed signals that could prompt a 30% rally in the short term.
Bitcoin price has not only swept key swing lows, as noted in last week’s articles, but it has also reached its first recovery level target. While the recovery rally was as quick as it was a surprise, investors can hope for a minor retracement to get on the next leg-up.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

source

Write A Comment