While its 30-day moving average (red) has turned upwards, and many overtake its 200-day average (blue) once again, there remains a very good chance that Terra Luna Classic will witness a few more rallies this year. That's because Binance committed last month to an ongoing burn of the LUNC it collects via trading fees.
By itself it may not be much, but Binance has created a precedent for other exchanges to follow--something which has excited the market and goaded LUNC supporters into believing it could reclaim its former highs.
With its 30-day moving average (red) rising and many surpassing its 200-day moving average (blue), there remains a good chance that Terra Luna Classic will see several more rallies this year.
Binance committed last month to an ongoing burn of the LUNC it collects via trading fees. It may not be much, but Binance has created a precedent for other exchanges to follow--something which has excited the market and goaded supporters into believing it could reclaim its former highs.
This is doubtful because even if various exchanges and platforms can burn enough LUNC to reduce its supply to something approaching its former level, it's still very hard to imagine there will be genuine demand for the token.
While LUNC's recovery may be slow and steady, there are other options for positive returns. For instance, presales have been successful this year, with Tamadoge (TAMA) raising $19 million in its presale before witnessing a 1,800% gain after it was listed on OKX.
One ongoing presale that does seem promising is the Impact Project, which is an Ethereum-based carbon credit marketplace and green shopping platform.
The sale for its IMPT token kicked off on October 3 and has so far raised $5 million, with the coin currently available at $0.018 (although the price will soon rise to $0.023).While the future price history of IMPT can't be predicted, the project's fundamentals make it an interesting platform for ESG investors.
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