A Year Since the Terra Luna Crash – Time to Shine?
In May 2022, the cryptocurrency market was in shock after the crash of Terra Luna which witnessed its price sink into oblivion. The once-stablecoin got de-pegged from the U.S. dollar and it has been dumped beyond recognition.
One year since being hammered down, which is quite atypical for digital currencies which aren’t ‘memecoins’ as Terra was a project which provided utility and improvements to the crypto world, the community of the dismayed cryptocurrency is exhibiting some positive sentiment as LUNC is gaining bullish momentum. LUNC has gained more than 23% during the past several days after its developers upgraded the project’s testnet to version 2.0.0.
Looking into the current price trajectory of LUNC, it is more likely than not that the coin has found its bottom, but such statement would be credible if the price breaks the local trendline. Given that the omnipresent cryptocurrency market conditions are predominantly bearish, LUNC may dwindle further before it shines.
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