Crypto Market Shifts Focus to Chainlink (LINK) and Terra LUNA Ecosystem
As Bitcoin grapples with short-term volatility in recent weeks, crypto-swing traders have been diversifying into altcoins, showing strong breakout potential. Notable choices among traders have included Chainlink (LINK) and the Terra LUNA ecosystem.
Additionally, the uncertainty of a United States government shutdown looms large, driven by congressional disputes over rising national debt, digital asset regulations, and surging interest rates resulting from the government’s expenditure in the Ukraine conflict.
Simultaneously, altcoins are gaining significant momentum, driven partly by growing institutional demand, as the crypto community anticipates a notable price recovery in October.
Chainlink Price Analysis
Famous crypto analyst Rekt Capital, known for their verified X platform account, has been closely monitoring the price action of Chainlink (LINK). According to Rekt Capital, the bulls are on the verge of regaining control, as LINK has broken its macro downtrend.
Chainlink’s resurgence is not mere luck; it results from an unwavering commitment to providing high-quality blockchain services. Moreover, LINK Price has received recognition as a vital blockchain project from respected global research firms like Gartner. Notably, the Chainlink development team is currently working on an internet of smart contracts, aiming to push the decentralization of digital asset adoption to the next level.
Could Terra Classic (LUNC) Price Hit $1? Crypto Expert Weighs In
In recent weeks, Terra Classic (LUNC) has been on an upswing, basking in the green zone with a notable seven-day price surge of 13%. The altcoin has witnessed a remarkable 323.66% surge in the past 24 hours, propelling its value to $0.00006508. This represents an 8% gain in the midst of a generally passive cryptocurrency market. Nevertheless, the altcoin faces consistent selling pressure, as indicated by its Relative Strength Index (RSI), which has remained below 40 since mid-July.
Despite swings, experts and analysts are bearish on LUNC. Why the negative outlook? Let’s explore.
$120 Is a Distant Dream
The recent downturn in Bitcoin, dropping from $27,500, has exerted selling pressure on Terra Classic coin. This, in turn, has created an opportunity for Rex “Rexyz” Harrison, who has raised important concerns about the potential of LUNC. Harrison casts doubts on the likelihood of LUNC reaching its ambitious target of $120, an all-time high for the token. He believes that achieving a $1 price would require substantial community efforts, with the chances of LUNC hitting $120 appearing exceedingly low.
Supporting Harrison’s claims, on-chain data reveals a surge in short-liquidations for LUNC, recently surpassing $20,000. Additionally, LUNC’s Open Interest has risen by $1 million, signaling increased trading activity. However, with the long-short ratio dwindling to 0.67, a bearish correction seems likely.
Read More: Why are Terra (LUNA) and Terra Classic ( LUNC) Prices Surging Today?
Conditions for the $1 Price Point
Harrison outlines specific conditions for the community to reach the coveted $1 price for LUNC. He argues that 99.9% of LUNC’s circulating supply, which currently stands at 5.8 trillion, must be eliminated through burning or staking. This creates uncertainty about LUNC’s journey to $1, given Terra Classic’s current market capitalization of $374.12 million.
Harrison acknowledges that achieving a 90% reduction in circulation might be feasible through a combination of staking and burning, but this would still leave 690 billion LUNC tokens in circulation. The analyst believes that strong community support is essential to break through these resistance levels.
Does LUNC Need a Swap System?
Furthermore, Harrison suggests that such an effort could potentially secure LUNC a $0.01 price, representing a staggering 15,269.87% growth from the current price. However, he notes that despite ongoing efforts, burning USTC tokens has made minimal progress in reducing the supply overhang. Additionally, burning LUNC itself has not significantly impacted the price.
All hope is not lost..
As a potential solution to LUNC’s reduction challenges, Harrison proposes the creation of a swap mechanism, such as LUNC – USTC2. This mechanism could potentially address the supply reduction and price enhancement issues faced by Terra Classic.
Also Read: SEC Lawsuit Against Terraform Labs: Do Kwon’s Attorney Fights Extradition Request
Will Terra LUNC Cross the $0.00007 Soon?
The crypto industry continues to hover around its support levels as the bulls struggle to stabilize the price. Terra LUNC, on the other hand, has managed to trade positively as the price has gained over 12% in the past week.
The LUNC coin has been trading in an ascending trendline since mid-September. Recently, the coin experienced a jump in its value of almost 6% in a day, indicating the possibility of a surge soon. Further, Terra Classic is on the verge of experiencing a golden cross, which could result in the price to surge soon.
The RSI has been trading above the mid-point for over a week now, indicating a strong buying and selling power. Further, their chart recently displayed a bearish convergence, indicating a possibility of a dip soon.
On the other hand, the MACD has displayed constant price volatility in its charts recently. Moreover, the histogram displays a slight decline in its charts, indicating an uncertainty in Terra LUNC’s future price action.
If the Bulls gain power and hold the price, then the price will experience a jump in value and test its resistance level of $0.00006523 soon. Further, if a bullish sentiment is initiated in the market, then the price will continue to surge and test its upper resistance of $0.0000750 next week.
On the contrary, if the bears come into power and a trend reversal occurs, then the price will experience a dip and continue to fall to new yearly lows. If the bulls fail to hold the price above $0.00006298, then the LUNC price will test its lower support level of $0.00006141 by the month-end.
Why are Terra (LUNA) and Terra Classic ( LUNC) Prices Surging Today?
The Terra Classic (LUNC) ecosystem is experiencing a surge in bullish momentum, closely following the upward trajectory of its sister project, Terra LUNA. Recent market data from Binance-backed Coinmarketcap reveals a remarkable 214 percent increase in Terra Classic LUNC’s 24-hour trading volume, reaching approximately $59 million. This surge in demand for Terra Classic LUNC occurs when the project grapples with legal challenges across various jurisdictions due to a substantial collapse last year that resulted in over $30 billion loss.
Terra Classic LUNC Price Analysis
From a technical perspective, Terra Classic LUNC appears poised for an impending breakout from a multi-week falling trend that commenced last year. This bullish breakout is further supported by the weekly Relative Strength Index (RSI), which has exhibited signs of rising divergence year-to-date. Additionally, many altcoins have initiated an ascent from bear market lows, even as Bitcoin struggles to rally beyond the $27.4k mark.
Network Developments
The Terra Classic LUNC ecosystem has substantially benefited from regular token burns aimed at transforming it into a deflationary environment. With over 72 billion LUNC tokens burned thus far, the development of Terra Classic has made significant strides this year. For example, Terra Classic’s core developers facilitated the participation of DeFi developers in the network through the Cosmwasm v1.1.0 upgrade in June.
Terra (LUNA) witnessed a more than 21 percent surge in the past 24 hours, reaching around 52 cents during the early London market on Thursday. The upswing in Terra LUNA’s price appears to have catalyzed the start of the long-awaited altcoin season, especially as Bitcoin demonstrated short-term weaknesses.
Terra LUNA experienced a more than 450 percent spike in trading volume over the past 24 hours, surpassing $314 million,
How Far Can Terra LUNA Price Rally
Per insights from a prominent crypto analyst with a substantial following of over 196,000 on the X platform, Altcoin Sherpa, Terra LUNA’s price currently stands at approximately 205 times below its all-time high (ATH). Notably, LUNA’s price had plummeted by more than 99 percent following the collapse of the algorithmic stablecoin UST early last year.
In July, Terraform Labs announced the appointment of Chris Amani, the former Chief Operating Officer (COO) of TFL, as Director and interim Chief Executive Officer (CEO) to succeed Do Kwon. It’s worth noting that Do Kwon is currently contending with extradition proceedings in the United States while serving a four-month prison term in Montenegro.
Terra Luna Ecosystem Skyrockets As Luna Classic (LUNC) Price Dominates! What’s Next For LUNC Price?
Over the past week, the Terra Luna ecosystem has taken the altcoin market by storm, with both LUNA and LUNC experiencing remarkable surges. Traders are becoming more bullish as these altcoins break several resistance levels in quick succession, indicating a comeback in buying interest. Yet, as Terra Luna Classic and LUNA reach new peaks, some short-term traders are looking for a chance to cash in and secure their gains.
LUNC’s Proposal Accelerates The Pump
The Terra Luna Classic community is voting on a soft fork to set a minimum validator commission and implement technical enhancements. This follows a proposal to increase the minimum deposit to 5 million LUNC to deter spam. The need for the soft fork arose after the validator commission was mistakenly set to 0% during an upgrade.
Till Ziegler advocated for a soft fork over a simple governance proposal. Subsequently, blockchain engineer Vinh proposed the v2.2.2 soft fork, encompassing the 5% commission and other upgrades. Voting ends on October 3, 2023, with a current unanimous 1.64% “Yes” vote share. Previously, the LUNC community decided to halt all Terra Classic USD (USTC) minting activities. Following these developments, LUNA and LUNC prices are now pumping hard as they successfully generated buying interest in the market.
On-chain data reveals a spike in short-liquidation for LUNC, surpassing $20K today. Additionally, LUNC’s Open Interest has climbed by $1 million, indicating growing trading activity. Yet, with the long-short ratio dipping to 0.67, a bearish correction seems likely.
Conversely, LUNA has experienced a bearish liquidation of close to $300K. Its Open Interest has jumped by $16 million in just two days, hinting at increasing price fluctuations near resistance points. However, LUNA is also seeing a minor bearish correction as buyers continue to book profits.
What’s Next For LUNC Price?
Over the last seven days, Terra Luna’s price rose by 37%, and LUNC’s price surged by 15.6%, suggesting explosive momentum in the Terra ecosystem. Analyzing the 4-hour price chart, the LUNC price broke above the crucial resistance of $0.000065 as buyers took advantage of triangle pattern closure at $0.000061. As of writing, LUNC price trades at $0.0000658, surging over 9.5% from yesterday’s rate.
Currently, bears are aiming to reverse the trend following a resistance at $0.000067. The initial downside support is located at $0.000064. A rebound from this level would imply a continuation in range-bound trading, just like LUNC previously initiated in a $0.00006 breakout. This could lead the bulls to aim for the $0.000072 price point.
On the bearish side, should the price slide below the 20-day EMA, it would signal declining bullish momentum. The LUNC price might first approach the $0.000058 benchmark, followed by a potential descent to the support of $0.000055. As the RSI level is dropping from the overbought region, short-term traders will likely exit, creating more downward pressure.
LUNC Price Analysis: Will Terra Classic Plunge To New Low?
The top cryptocurrencies continue their struggle to stabilize their prices. The market continues to experience constant turbulence in its value. September has turned out to be the most volatile month of the year.
Since the start of the month, the LUNC’s price has experienced constant price volatility. The bulls are fighting hard to hold the coin’s value and stabilise the market, but they are constantly failing. Following the price plunge during the market fall, LUNC broke down multiple support levels and traded close to its crucial support level.
The Terra token was trading sideways below $0.00005833 for a brief period, after which the price experienced a significant surge in value, resulting in the coin breaking out of multiple resistance levels of $0.00005833, $0.00005978, and $0.00006141 within a day.
The LUNC price trades between the consolidated range of $0.00005978 and $0.00006141. The coin recently displayed a bullish Doji candle, indicating the possibility of a trend reversal, and is predicted to undergo massive price action soon.
The support level of $0.00005978 plays an important role because if the coin fails to hold its value above that level, it will fall into strong bearish influence, and the price may experience a massive plunge in value.
The RSI displays a decline in its averages, indicating weak buying and selling power. Further, the averages display a possible bearish convergence in their chart, indicating the price will fall in the coming days.
On the other hand, the MACD displays a constant decrease in its histogram, indicating reduced price action in the charts. Further, the indicator also displays the possibility of a bearish convergence in its charts, indicating the coin will experience massive price action before month-end.
Will LUNC Price Go Back Up?
If the bulls gain power and stabilize the price, the Terra coin will prepare to test its resistance level of $0.00006141 soon. Further, if the price holds itself at that level, it will prepare to test the upper resistance level of $0.00006298 this month.
On the other hand, if the bears dominate the market, the coin will lose its value and test the support level of $0.00005978. Moreover, if LUNC fails to hold that level, then the price is bound to test the lower support level of $0.00005833 by the end of this month.
Is Terra Luna Classic’s Crown As The ‘Top Gainer’ Fading? LUNC Price Faces Uncertainty Amid Declining Open Interest
In the past day, Terra Luna Classic experienced a significant uptick, breaking through key resistance barriers, sparking hope for a potential bullish surge. While LUNC claimed the title of ‘top gainer’ today, it’s now struggling with maintaining its upward momentum due to unfavorable on-chain signals. This has led to rising concerns of a sharp drop, given the lack of buyers to sustain the buying interest.
LUNC’s Long/Short Ratio Favors Bears
After witnessing a trend reversal from $0.000064, LUNC’s price trajectory has raised concerns among traders, many of whom have adopted a bearish path. This shift in sentiment is evident as a significant number of traders have opened short positions, anticipating a potential drop in LUNC’s value. Recent data from Coinglass suggests that LUNC’s long/short ratio has been on a downward trend, recently hitting a low of 0.7292.
While 42.17% of positions remain bullish, a more substantial 57.83% are leaning towards the bearish side. This imbalance in positions indicates a rising bearish sentiment in the market for LUNC. If the majority of traders continue to bet against LUNC’s price rise, it might hamper buying demand.
Moreover, with a significant number of traders liquidating their futures positions to capitalize on or eliminate the risks of price volatility, the open interest (OI) has receded from its peak. Today, the OI reached a notable one-month high at $5.07 million. However, it couldn’t sustain this momentum, with traders cashing in near this peak.
At present, the OI has declined, hitting a low of $4.1 million. This decrease indicates a reduced trading fervor in the LUNC market. Such declined activity could temper the altcoin’s volatility and potentially drive it back to its breakout point, especially in light of the dropping buying interest.
What’s Next For LUNC Price?
LUNC price is currently on a robust buying sentiment; however, bears are attempting to defend a surge above $0.000064. However, buyers might soon retest the breakdown level to validate further surge. As of writing, LUNC price trades at $0.0000612, surging over 6.7% from yesterday’s rate.
On the 4-hour price chart, LUNC price has declined below the EMA200 trend line and bears are now aiming for EMA20. Despite testing the immediate support at $0.00006 multiple times, the bulls remained strong, indicating that traders are holding their positions in anticipation of a further surge. If the price surpasses $0.000065, we could see LUNC price aiming for $0.000073.
The rising moving averages and the RSI below the overbought region suggest a bullish momentum. On the bearish side, LUNC’s initial support is at $0.000058, followed by a critical level at $0.000052.
Terra Classic Community Urges Binance to Burn USTC Fees for Stability
Following the unsettling collapse of Terra in May 2022, the Terra Classic community is debating a new proposal aimed at restoring stability to its TerraClassicUSD (USTC) stablecoin. Central to the discussion is a proposition that nudges Binance, the world’s largest cryptocurrency exchange, to burn 50% of its USTC trading fees. This development adds another layer to the dramatic efforts to resurrect a project that once had a prominent standing in the crypto-verse.
Two closely related proposals have been put forth on the Terra Classic governance forum, and they’re drawing significant attention from the community.
Proposal #11785: Binance Burn Program for USTC
The first proposal, aptly tagged as #11785, primarily focuses on getting Binance to extend its existing fee-burning mechanism to USTC trading pairs. The exchange currently burns 50% of its trading fees from Terra Classic (LUNC) pairs and, if the proposal is accepted, it would be a massive win for the struggling USTC stablecoin. Binance offers trading pairs like USTC/USDT and USTC/BUSD, which collectively saw a trading volume of approximately $5 million in the last 24 hours.
The logic is straightforward: if the most influential crypto exchange burns a portion of the USTC supply, it would likely bolster efforts to re-peg the stablecoin to the US dollar and possibly rejuvenate the value of its counterpart, LUNC.
Proposal #11786: Limiting USTC Minting
Running parallel to the first proposal is another initiative (#11786) aiming to limit the minting of USTC. This is aimed at closing loopholes that facilitate unwarranted expansion in USTC’s supply. Here, the community wants to have a say in any future minting activities, thereby guarding against the arbitrary creation of the stablecoin.
The Voting Landscape
As of now, the proposals have polarized the community. Proposal #11785 has garnered 41.11% favorable votes, while a sizable 57.02% abstained, and a minuscule 1.73% voted against it. The proposal for limiting USTC minting is in a fierce battle as well, with 47.32% in favor and 44.34% against. It’s a tug-of-war, and every vote counts.
The proposals don’t just represent mere governance changes; they embody the community’s ambitions and its resilience in the face of adversity. Meanwhile, USTC currently trades at a mere $0.012, a long way off from its intended peg to the US dollar. Only time will tell if these proposals can inject the much-needed stability and vitality into the Terra Classic ecosystem.
Terra Payment System Hacked Through Phishing!
Terra (LUNA), a blockchain-based payment system, has been compromised by a malicious entity that is using the domain ‘terra(dot)money’ as a phishing platform. The attackers are attempting to collect users’ sensitive data, such as private keys, smart contracts, and other personal information. It is advised that users do not interact with this domain, as they may fall victim to a scam. Terra’s official account has issued warnings on X (former Twitter) on August 19 and August 20, but no details have been provided on the cause of the domain being compromised.
Judge Rakoff Gives Green Light to SEC’s Probe into Terra Co-Founder
Amidst swirling allegations, the US Securities and Exchange Commission (SEC) has received approval to join hands with their South Korean counterparts, as per a recent report. This cooperative effort will further dive into the intriguing case involving Terraform Labs’ co-founder, Daniel Shin, and the prominent payments entity, Chai Corp.
Deepening the Investigation: SEC’s Global Pursuits
At the heart of this inquiry is the SEC’s vigorous hunt for substantial evidence tied to both Daniel Shin and Chai Corp. Their objective? To strengthen their case against the notable Terraform Labs and its erstwhile leader, Do Kwon.
Accusations claim an intricate scheme orchestrated by the parties, which purportedly led to a staggering loss of more than $40 billion in the cryptocurrency realm. Aiding the SEC’s overseas probe, Judge Jed Rakoff has endorsed the deployment of a 1970s treaty, ensuring the smooth international collection of vital evidence.
Kwon’s Troubles: From Montenegro to Many Many Nations
The unfolding drama also sheds light on Do Kwon’s turbulent path. Currently navigating a four-month incarceration period in Montenegro due to passport forgery charges, Kwon finds himself encircled by legal challenges. Criminal charges are looming over him not only in the U.S but also in South Korea, compounded by the ongoing SEC complaint. Interestingly, both Kwon and Terraform refrained from opposing the SEC’s evidentiary requests, actively providing the necessary documentation to fortify their defense stance.
Terraform and Chai
Contrary to allegations, Terraform Labs staunchly refutes any claims of misconduct. However, the waters were muddied when Daniel Shin faced prosecution by South Korean authorities in April. While Shin’s legal counsel vehemently denies his involvement in Terra’s challenging times, the historical connection between Terraform Labs and Chai Corp remains undeniable. With both entities having been birthed by Kwon and Shin, their eventual parting in 2020 saw Kwon helm Terraform while Shin assumed leadership at Chai.
Zooming in: SEC’s Areas of Interest
The SEC’s investigative lens is currently focused on a myriad of areas. These include an in-depth examination of Chai’s payment procedures, its adoption of Terraform’s innovative blockchain and stablecoin, the nature of communication exchanges between the intertwined firms, and vital information shared with Chai’s investor base about their intricate relationship.
Ripple Responds to Terra Court Ruling, Counters SEC’s Appeal
Amidst the web of courtroom battles and blockchain legalities, Ripple recently stepped up to challenge the Securities and Exchange Commission’s (SEC) intent to appeal the Judge’s ruling, and the company appears poised to defend itself, causing ripples in the crypto legal world.
Ripple’s Three-Point Defense
Ripple has laid out a comprehensive counter to the SEC’s anticipated appeal motion. This response is crafted on three strategic points. Initially, the company emphasized that the judgment given by Judge Analisa Torres on July 13 doesn’t hinge on a pivotal legal question.
Diving deeper, Ripple’s leadership asserted that the SEC failed to provide significant justification to indicate differing opinions on the matter. Lastly, they voiced concerns that the appeal wouldn’t necessarily hasten the end of this lawsuit.
SEC’s Grounds for Appeal
On the flip side, the SEC is not backing down. They’ve articulated their intent to challenge Judge Torres’ ruling concerning Ripple’s XRP sales and other distributions. Their contention revolves around a significant legal query that, in their view, holds substantial potential for debate.
Reinforcing their stance, the SEC highlighted a differing judgment in the SEC-Terra case. In this particular scenario, Judge Jed Rakoff, who presides over the Terra litigation, did not align with Judge Torres’ perspective in the Ripple case.
Distinguishing Ripple and Terra
At the heart of this legal drama, Ripple has gone to great lengths to differentiate its actions from those of Terra. The company underlined key disparities in its XRP sales compared to Terra’s strategies. Ripple was keen to spotlight the promises made by Terra and its chief, Do Kwon, which assured returns between 19-20% on initial investments in their coin. They further highlighted Terra’s aggressive promotional drive, urging both individual and institutional investors to buy their digital assets.
Terra Case Echoes in SEC’s Ripple Appeal Request
The legal battle between the SEC and Ripple continues to twist and turn, with the SEC now requesting an appeal against Judge Analisa Torres’ ruling. The drama unfolds with references to another case involving Terra and conflicting judgments between two judges. Let’s break down the latest developments.
Judge’s Ruling Sparks Controversy
The SEC is seeking to appeal Judge Torres’ ruling on Ripple’s programmatic sale of XRP and other distributions, citing “controlling questions of law on which there is substantial ground for differences of opinion.”
The spotlight falls on two judges: Jed Rakoff and Analisa Torres. Judge Rakoff, who presided over the Terra case, rejects Judge Torres’ reasoning in the Ripple case. The difference? Torres’ distinction between Ripple’s sales to institutional and retail investors.
A Tale of Two Judgments
Judge Torres ruled that Ripple’s XRP sales to institutional investors constituted securities, while programmatic sales and other distributions did not. She argued that institutional investors expected gains directly from Ripple, while retail buyers had different expectations.
Judge Rakoff, however, turned the tables, denying Terra and its founder Do Kwon’s motion to dismiss the SEC’s case against them using Judge Torres’ ruling as a precedent. He firmly stated that the Howey test, a critical security test in the US, does not differentiate between buyers.
SEC Plays the Terra Card
Here’s where the plot thickens: The SEC is using Judge Rakoff’s rejection as ammunition to request an interlocutory appeal in the Ripple case. The development was brought to light by Sherrie, an influential XRP figure.
Potential Appeal of Final Ruling: A Legal Tug of War
Opinions are split on whether Judge Torres will grant the SEC’s request. Top legal expert Scott Chamberlain predicts a denial.
However, the SEC has prepared for this outcome, hinting at appealing the final judgment if the interlocutory appeal is denied. The SEC argues that an interlocutory review would save time and money, avoiding two separate lawsuits over the same legal issues.
How Are Klaytn and Terra Classic Price Performing? Pomerdoge Sets $0.35 as Next Price Target
Klaytn (KLAY) and Terra Classic (LUNC) most recent performances have been flying under the radar, and a lot of people are curious about what the future holds for them. In addition, the upcoming P2E ecosystem seen in Pomerdoge has captured massive attention. The token has set $0.035 as its next price target, and today, we will explore why.
Summary
- Klaytn to spike to $0.20 by the end of the year.
- Terra Classic to reach $0.00010267 before 2023 ends.
- Pomerdoge sets $0.35 as its price target.
Klaytn (KLAY) Price Performance Analysis
The price of the Klaynt (KLAY) cryptocurrency sits at $0.155977 on August 10, 2023. In the past week, it saw its low-value point at $0.152714, with its high point at $0.157565. Moreover, the Klaytn crypto market cap is $498,318,136, with its trading volume at $4,302,941.
In addition, during the past 30 days, the Klaytn price decreased by 4.7%, and in the past week, it’s been down 0.5%. However, according to the Klaytn price prediction, it can surge to $0.20 by the end of the year.
Terra Classic (LUNC) Price Outlook
The price of the Terra Classic (LUNC) cryptocurrency was $0.00007717, with a 24-hour trading volume of $17,994,160. In addition, its market cap is at $449,186,727. Moreover, the Terra Classic crypto saw its low-value point at $0.00007608 during the week, with its high point at $0.00007993.
Overall, the price decreased by 6.9% in the past 30 days and by 2.8% in the past week. However, the future of this cryptocurrency is not bearish. According to the Terra Classic price prediction, it has the potential to reach $0.00010267 by the end of the year.
Pomerdoge (POMD) Sets $0.35 as Next Price Target
Alongside Klaytn and Terra Classic, another cryptocurrency primed to reach new heights in 2023 is Pomerodge (POMD). In fact, during its current presale stage, the project has sold over 70M POMD tokens, making it one of the highest-selling altcoins of the year. A single POMD token trades for $0.008 during this stage, and its price will increase with the start of the next stage.
The ecosystem behind Pomerdoge consists of three elements: Pomergame, Pomerplace, and an NFT collection. Pomergame is a virtual world where players can explore, complete objectives, and level up their Pomer. Upon reaching Gold Status, they can then begin using the Pomerplace.
This dedicated marketing has a lot of utility. Alongside enabling anyone to buy, sell or trade in-game valuables, it has an arena for competitions. Subsequently, holders of POMD can buy an NFT from the 7,777 collection at 0.2 ETH each. As a result, analysts now predict that Pomerdoge (POMD) can spike to $0.35 as its next price target by the end of the year.
Find out more about the Pomerdoge (POMD) Presale Today
Website: https://pomerdoge.com/
Telegram Community: https://t.me/pomerdoge
Ripple And XRP: Taking The Center Stage In Terra Luna Trial’s Legal Conundrum
The ongoing legal battle between Ripple and XRP has found a new arena: the Terra Luna trial in Korea. This trial, with its focal point on security status concerns, is witnessing an intricate twist as prosecutors strategically incorporate the Ripple-XRP legal discourse to bolster their case.
Triggered by Ripple’s recent courtroom victory against a prominent U.S. financial regulatory body, under the adjudication of Judge Analisa Torres, the ripple effects of this triumph are now stretching far beyond the boundaries of their initial legal battle.
With the Terra LUNA trial underway, prosecutors have utilized Ripple’s recent legal achievement as a powerful lever for enhancing their arguments in an intricate Korean legal framework.
A Legal Dilemma in Terra Luna Trial in Korea
At the heart of the Terra LUNA trial in Korea lies the pressing question of whether the tokens in question should be classified as “securities.”
Emerging from insider sources within the Seoul prosecutor’s office, it has been revealed that they’ve acquired a translated version of a U.S. court’s judgment concerning Ripple. This document distinctly states that although XRP itself wasn’t classified as a security, its characterization shifted when sold to institutional investors.
This nuanced contrast forms the crux of a calculated strategy to challenge the parallel contention that Luna Coin, akin to XRP, stands exempt from the security classification within the ambit of Korean legal paradigms.
Further, Deputy Chief Prosecutor Dan Sung elaborated on this strategic thrust, emphasizing that the U.S. court’s discernment of XRP’s subtle status echoes beyond, creating a widened lens for the understanding of what constitutes securities. This shift disrupts any assumptions that might have shielded Luna Coin from similar regulatory scrutiny within the contours of Korean law.
U.S. Court Ruling Echoes in Korean Crypto Legal Battle
In a legal turn of events with far-reaching implications, Ripple’s partial victory against the U.S. Securities and Exchange Commission (SEC) has cast its shadow over the ongoing Terra LUNA trial.
On July 13th, Judge Analisa Torres of the Southern District Court of New York rendered a significant ruling that struck at the heart of Ripple’s legal tussle with the SEC. This pivotal ruling rejected the classification of XRP as an “investment contract.” Now, this very ruling has taken center stage in the Terra LUNA trial, casting a spotlight on its significance.
Dan Sung elaborated, “Luna Coin’s unique commitment to profit sharing sets it apart from Ripple, possibly leading to its reclassification as a security.”
As the intricate Terra Luna trial continues to unravel, the ongoing Ripple and XRP saga surfaces as a pivotal force, significantly shaping the discourse around cryptocurrency security.
Terra Luna Classic Community’s Bold Move: Token Burn Aims to Propel LUNC and USTC to $1
In a highly critical decision, the Terra Luna Classic community is at crossroads over the fate of 800 million USTC tokens linked to the Ozone Protocol. Instead of returning them to the community pool, some members are advocating for their burning, which could have significant implications for the value of LUNC and USTC tokens. Why there is a mixed reaction to proposal 11658, do we see a potential downtrend for the pair? Let’s analyze.
800 Million LUNC is at Stake? Fate Depends on the Community Decision
There is a lot of discussion regarding the controversial Proposal 11658, championed by ex-Terra Rebels developer group member Vegas. The proposal aims to return the idle 800 million USTC tokens related to the Ozone Protocol back to the Terra Luna Classic community pool. The main motive behind this move is that the Ozone Protocol, initially proposed by Terra co-founder Do Kwon and funded from the community pool, has not fully utilized the allocated funds in its intended manner.
Notably, this proposal has faced opposition from certain validators and members. A counter-proposal, labeled Proposal 11660 and backed by DNC, M Van S, Lunanauts, and SolidVote Validator, is advocating for the burning of the 800 million LUNC. Even if Proposal 11658 were to pass, these community members seek to ensure that the funds are permanently removed from circulation.
It is worth noting that, the burning of tokens from the Ozone Protocol’s wallet could have significant implications for the prices of LUNC and USTC. As the opponents believe that this move would stimulate USTC repeg and LUNC developments, which have so far failed to bring about a substantial upward momentum in their prices. Seems familiar.
What could be the impact of this on LUNC & USTC Prices?
The most important factor here is the market is closely watching the price movements of LUNC and USTC. LUNC has seen a 1% of minor dip in the last 24 hours, it is currently trading at $0.000080. However, the formation of a triangle pattern indicates the potential for a recovery above the $0.00009 support level.
On the other hand, USTC’s price has declined by 2% in the last 24 hours, currently standing at $0.015. This comes after a recent 50% rally stirred by USTC repeg announcements. Nevertheless, trading volumes have decreased as traders show renewed interest in LUNC.
Overall, the fate of the 800 million USTC tokens and the potential burning of LUNC tokens will greatly influence the direction of the Terra Luna Classic community’s development. As stakeholders cast their votes, the entire ecosystem awaits the outcome that could shape the future trajectory of these digital assets.
LUNA’s Guardian Partnership and Q3 Roadmap Revealed by Terra Luna Classic, Tokens Surge
Terra Luna Classic’s core developer team, the Joint L1 Task Force (L1TF), has announced their plans for Q3 development while sharing the completion status of tasks from Q2. In the upcoming quarter, the developer teams will primarily focus on the repeg of the USTC stablecoin, along with major upgrades and a reduction in circulating supplies of LUNC and USTC.
Edward Kim’s Block Entropy team has recently established an agreement with on-ramp provider Guardian regarding the listing of LUNC. As part of the agreement, LUNC will be listed for free. Negotiations for the listing of USTC are still underway and have yet to be finalized.
LuncBurnArmy, the project manager of the Joint L1 Task Force developer team, took to Twitter to announce the completion of Q2 development work, which included several significant upgrades and maintenance tasks. The team is now shifting its focus to Q3 tasks from July 17 to October 17, with updates on all tasks planned to be provided on a biweekly basis.
In noteworthy news, LuncBurnArmy revealed that Guardarian has agreed to offer services to the Terra Luna Classic community for free, including the listing of LUNC without any fees. This on-ramp has been implemented on a test version of Station.
According to a Medium post, L1TF has successfully completed Cosmos SDK and CosmWasm upgrades, opened IBC to the Kujira chain, and implemented security patches such as the “Cherry patch.” After the v2.1.1 Parity upgrade, the team worked on resolving smart contract issues with Dapps and other projects, particularly Astroport.
L1TF plans to return the budget surplus from Q2 to the community pool and will communicate with the investor community once this process is completed.
LUNC and USTC surge
As a result of a descending channel breakout, the Terra Luna Classic ecosystem tokens, LUNC and USTC, experienced significant price increases of 14% and 55%, respectively, over the past week. The trading volume for both cryptocurrencies has also seen a significant jump.
In the past 24 hours, LUNC’s price has risen nearly 1%, currently trading at $0.00009313. Meanwhile, USTC is trading at $0.018, showing a 6.8% increase in the past 24 hours.
Terra Luna Classic L1TF Unveils Plan for Token Recovery and Path to $1
The Joint L1 Task Force (L1TF), Terra Luna Classic’s core developer group, has issued an update on their progress and future plans for Q2. In the upcoming quarter, the developer group aims to focus on reducing the circulating supply of LUNC and USTC. Additionally, the community pool has started to refill after reaching low levels, providing some relief.
However, there have been discussions within the community regarding validators’ participation in the LUNC burn campaign, with concerns raised about reduced contributions following Binance’s restoration of its LUNC burn mechanism in March.
Joint L1 Task Force outlines the ongoing tasks
L1TF project manager, LuncBurnArmy, shared a status update on Twitter, outlining the tasks from June 26 to July 11. The team plans to prioritize upgrading Astroport’s smart contract before transitioning to the Q3 roadmap. A separate end-of-quarter update will provide a comprehensive review of the completed tasks during Q2.
The L1TF is also working to stabilize the impact caused by the CosmWasm Parity upgrade, which introduced significant changes to the chain. Terraform Labs (TFL) has successfully integrated a pull request that allows the community to engage in seamless token swaps between LUNC and USTC using TerraSwap through TFL Station.
Among their ongoing initiatives, the LITF is currently working on the Burntax split to the distribution module, dApp whitelisting, contract upgrades using the MigrateContractProposal, and supporting the Quant team for USTC repeg. Unused funds will be returned to the community pool, which has already started to refill and currently holds over 525 million LUNC.
Some members of the community have expressed concern over the reduced LUNC burn contributions from validators in recent months. Currently, LUNC burn is mainly contributed by DFLunc, TerraCasino, and Cremation Coin, with major validators seemingly inactive.
In response to concerns about the reduced burn rate of LUNC, ClassyCrypto has devised a strategy to burn Classy’s Sphere Validator’s entire commission until the end of 2023. This proactive measure aims to reignite interest in the LUNC burn initiative and encourage validators to actively participate in the process. Additionally, Edward Kim’s Block Entropy Testnet is actively working towards boosting the LUNC burn rate, contributing to the collective effort to strengthen the token’s burning mechanism.
Terra Founder Do Kwon’s $163 Million Bitcoin Withdrawal Raises Eyebrows; Here’s the Whole Truth
In a recent development that has captivated regulators and the crypto community, Do Kwon, the co-founder of Terra, and his associates have made a substantial withdrawal of Bitcoin linked to the Luna Foundation Guard (LFG). Approximately $163 million worth of Bitcoin, totaling 5,292 Bitcoins, was moved from a Binance wallet owned by the Luna Foundation to an unknown wallet on Monday.
What is the actual truth? Let’s dive in.
What’s Up With Terraform Labs and Do Kwon?
This significant move comes amidst the backdrop of ongoing court proceedings and investigations involving Terraform Labs (TFL) and Do Kwon. The US Securities and Exchange Commission (SEC) revealed that Do Kwon and TFL had covertly transferred 10,000 BTC to a cold wallet following the Terra-LUNA crisis.
Since then, Do Kwon has been gradually transferring Bitcoin from the cold wallet to the crypto bank Sygnum, effectively cashing out millions.
Lingering Questions
The latest transfer occurred from the LFG crypto wallet, which was established in January 2021. According to on-chain data, the entire 5,292 BTC held in the LFG wallet were deposited into an unknown wallet, raising further questions about the movement of these funds.
Read More: Do Kwon’s Bail Request of $428K Granted by Montenegro Court in Fake Passport Case
Suspicious Withdrawals
In addition to the Bitcoin transfer, Terra co-founder Do Kwon and TFL have also been involved in other significant cryptocurrency withdrawals during the Montenegro court proceedings. They transferred 1.8 million Convex Finance (CVX) tokens, with a value of nearly $8.7 million.
Moreover, Do Kwon or an affiliate allegedly moved stablecoins worth $400,000 and Terra Classic (LUNC) valued at $150,000 from wallets managed by him to a separate wallet. South Korean prosecutors have claimed that since his arrest, Do Kwon has transferred crypto assets worth $29 million.
Kwon Crackdown
In a twist of events, Do Kwon reportedly exchanged Bitcoin worth $190,000 from the Luna Foundation Guard for cash in Serbia, further adding to the complexity of the situation.
Lastly, Swiss prosecutors have frozen crypto assets and fiat currency associated with Terraform Labs and Do Kwon in Sygnum. This action followed a request from the New York Federal Prosecutors Office and the SEC, indicating an intensified scrutiny of the transactions and activities surrounding Terra and its key figures.
As more details emerge, the implications of these moves on the future of Terra and the individuals involved remain uncertain.
LUNC Proposal Aims to Appoint Binance’s CZ as Leader of Terra Classic Amidst Internal Turmoil
In a bold move by the Terra Classic (LUNC) community, a proposal has been floated to establish a central authority to end ongoing internal discord. Changpeng Zhao, the CEO of the global crypto exchange Binance, is the nominee for this newfound leadership role.
The proposal, numbered 11614 and submitted on June 29, arises from the community’s desire to swiftly resolve lingering conflicts within the Terra Classic ecosystem.
They believe a central authority will help reinvigorate the ecosystem by effectively managing blockchain resources, coordinating development activities, and making robust decisions that favor the resurgence of Terra Classic.
CZ: The Ideal Candidate
The individual touted for this daunting task is none other than Binance CEO CZ. The justification for his selection is rooted in Binance’s demonstrated support for LUNC burns, CZ’s well-established proficiency in cryptocurrency, and his access to abundant resources essential for development activities.
The community envisions CZ steering the Terra infrastructure, supervising L1 and L2 development activities, and taking the helm of governance decisions for LUNC, aiming to propel its value to the desirable $1 mark.
June 30th: A Key Turning Point
In a related development, the Terra Luna Classic community, on June 30th, approved a core developer Joint L1 Task Force (L1TF) proposal for Q3 chain developments and maintenance.
The main objective of the L1TF developer group is to hasten the reduction of LUNC and USTC supply by making use of the market module. However, this community approval came with a rejection: the Terra Allies ‘Six Samurai team, a proposed assembly of six senior developers to revive the Terra ecosystem, was turned down due to inadequate funds in the community pool.
The new LUNC community proposal for CZ’s leadership highlights the community’s pragmatic approach to resolving internal challenges and their determination to rejuvenate Terra Classic’s ecosystem. The result of this proposal could mark a pivotal turning point in Terra Classic’s journey.
Can Terra Luna Classic return from the grave? Avorak gives insight
With Avorak’s AI analytics gaining significant recognition, more investors are turning to its insights on Terra Luna Classic’s future.
LUNC price
After the Terra collapse, a hard fork was proposed, leading to the launch of Terra 2.0 and the rebranding of the original platform as Terra Classic, with the original LUNA token becoming known as Luna Classic (LUNC). Despite concerted efforts to revive Terra Classic, LUNC became hyperinflated when UST deviated from its $1 peg, and many investors and users are still wary of the platform. Consequently, the LUNC price has struggled to experience significant growth. The LUNC price continues to coil and trade in a narrow range amid the prevailing uncertainty in the cryptocurrency market. Additionally, most Terra Luna Classic price predictions are bearish, with several analysts suggesting a breakdown from the support trendline with a 4-hour candle closing will boost supply pressure and could plunge the prices down 25%.
What is Avorak?
Avorak is a new AI platform built on the BNB Smart Chain. The platform offers a wide range of AI solutions, including text creators, chatbots, image generators, blueprint drafters, 3D modeling tools, and more
The Avorak Trade bot has made a lasting impression by providing insights and predictions that correspond to those of reputable analysts in its development. This unique AI trading bot conducts a full market analysis, identifies key patterns and trends, generates sets of carefully selected indicators, and then provides price predictions. Avorak’s trading bot can also automate trades on multiple exchanges and asset classes and is programmed with a non-code-based command-line input.
Avorak Trade is currently in its beta phase, and beta testers have already earned significant profits, suggesting that once fully operational, it could be the best trading tool on the blockchain.
AVRK is the native token of the Avorak platform and serves as a payment for its AI services. AVRK holders are entitled to a share of the profits made by these services. Users can increase their AVRK holdings through Avorak’s three staking pools, or trade them for cryptocurrencies or fiat through crypto exchanges. There’s a capped supply of 40 million AVRK and a portion is burned on payments, ensuring deflation and price increases. AVRK is currently priced at $0.27 in the last phase of Avorak’s ICO (initial coin offering) and will launch at $1. The ICO offers investors other benefits besides significant returns on launch day, including token bonuses and preferential access to staking pools.
The Avorak team has received recognition for its ability to develop products that bridge the gap between traditional finance and cutting-edge science, and analysts have suggested that Avorak’s solutions position it for great growth and adoption.
For more information on Avorak:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
Why Investors Are Buying Sparklo (SPRK) Over BitDAO (BIT) And Terra Classic (LUNC)
Statistics are showing that investors are buying more of the Sparklo token over other coins like BitDAO (BIT) and Terra Classic (LUNC) due to the massive potential that the Sparklo project has shown since its presale phase started. More details are below.
High display of potential sees more investors buy into the Sparklo (SPRK) project
Sparklo has not gone short of momentum in the crypto market since its first presale phase. Now at the third stage of its presale, it has experienced an upsurge as investors discover the massive potential that Sparklo carries. It is a blockchain-based investment platform that allows investors to invest in highly profitable solid minerals like Silver, Gold and Platinum. These solid treasures can be traded on the Sparklo platform using fractionalized NFTs that act as digital placeholders for the assets.
Currently, the SPRK token has garnered an increasing reputation as the token follows a similar path to the early rise of Bitcoin. Crypto analysts have projected that the token may see a rise of over 1,500% before the end of the year. Given this, it is important to invest in the SPRK token now, as it sells at only $0.055. This is because investing in solid projects early is where significant gains are made.
It is worth noting that Sparklo has passed its audit with Interfi Network and has successfully verified its KYC from the BlockAudit Report Team. The SPRK token’s liquidity will be locked for 100 years to ensure more solidity and prevent an event of a rug pull. There’s a sky-high potential for Sparklo to boost investors’ portfolios and bring high returns. You can click the link below to invest.
Terra Classic (LUNC) is tilting towards bearishness
Terra Classic (LUNC) is a decentralized protocol that powers on-chain payment systems globally using fiat-pegged stablecoins. Terra Classic is showing an unwanted potential to enter the bear market soon. This is evident as the price analysis shows that the token has seen a 1% loss in price value in the last few hours. As such, Terra Classic trades at $0.0000893 at the time of this writing. Similarly, the trading volume of Terra Classic fell by 9.60% in trading activity within the last 24 hours to stay at $34.89M presently.
The signs of an imminent price downturn for Terra Classic are making the token a less favourable investment option. As such, investors may look beyond Terra Classic to Sparklo as a better investment alternative. Terra Classic holders have joined the ongoing SPRK token presale to make gains.
BitDAO (BIT) fails to see a price rally
BitDAO (BIT) is an autonomous organization that operates on the blockchain network and aims to facilitate a fair environment for a decentralized token economy. The token lost 0.80% in price value in the last 24 hours. Consequently, the token trades at $0.41 at the time of writing. Moreso, the 24-hour trading volume of BitDAO plummeted by 34.63% to stay at $1.79M currently.
While the price loss of BitDAO may seem less significant, it is only a testament to what may be in store for the token. As such, it may not be a good time to invest in BitDAO. However, Sparklo has proven to be a promising investment option. BitDAO investors have seen the potential of Sparklo and have joined the ongoing token presale to make profits.
Find out more about the presale with the links below;
Holders of Dogecoin, Terra Luna Classic and Avorak AI will Win in 2023
Many investors look for opportunities to invest in digital assets with potential profits but are spoilt for choice. With the growing number of cryptocurrencies, Dogecoin, Terra Luna Classic, and Avorak AI are among the leading cryptocurrencies in the market today. Each presents unique features and characteristics that make them stand out from the rest.
Terra Luna Classic (LUNC)
Terra began as a stablecoin platform offering fiat-pegged tokens and a stabilizing crypto asset, Luna, to promote the mass adoption of cryptocurrencies. It was founded in January 2018 with the support of the Terra Alliance. After the split, Luna Classic (LUNC), a token in the Terra ecosystem, experienced a significant price increase due to the burning of over one billion tokens. The collapse of the Terra ecosystem in May 2022 led to the creation of Terra 2.0. LUNC’s price reached a high of $119.18 in August 2022 before plummeting to its lows. Amid the recent SEC crackdown, the LUNC news was trending with the LUNC price pump, although it isn’t certain how far it would go up. Investors should follow LUNC news for updates and more on the progress of the parity upgrade for increased interoperability.
Will Dogecoin reach $1?
Whether Dogecoin reaches $1 is informed by many factors, such as the overall sentiment of the events in the Dogecoin ecosystem. The question begs the consideration of its reliance on hype, and with no real use cases, it becomes a subject of speculation. Dogecoin has experienced significant price fluctuations in response to various events, including Elon Musk’s tweets, which have boosted the cryptocurrency’s value in the past.
While many factors such as increased adoption, technological developments, and more mainstream acceptance could push Dogecoin to reach $1, it is uncertain achieving this target considering its current value. As it stands, it has to rally an enormous effort to reach dollar one but several factors stand in its way, including, lack of utility, inflationary supply, and it is speculation based.
Avorak AI
Avorak AI, with its utility solutions, solid framework, and a high-flying ICO, makes it a candidate for big wins this year. Avorak enters the crypto arena as a utility solution to blockchains and crypto traders and as an investment vehicle powered by its native token AVRK. Avorak Trade Bot is a crypto trading assistant that performs all the aspects of crypto trading such as surveys, data gathering, market watch, and analysis of complex historical data. By analyzing this information, it generates accurate signals for use in price predictions and profitable decisions.
Avorak also deploys image generators, chatbots, trade bots, and many robust solutions. Avorak Write strives to address the repetition and plagiarism challenges of existing AI content generation tools. It achieves this through a language bank and APIs that help the tool proofread, edit, and auto-correct text before producing ready content.
Avorak’s ICO is in phase seven, having surged 325% to $0.255, with projections of a further AVRK price rise to $1 at launch. The project rewarded early investors with bonuses, Beta testing access, and future priority access to staking pools. Avorak’s performance has attracted the attention of analysts, investors, and YouTube enthusiasts who have regarded the project as a 100x AI crypto gem. Avorak has decided to reward investors with bonuses as the ICO nears completion, subject to terms and conditions as per the schedule below:
$250 – $495 = 100% Bonus AVRK
$500 – $1,250 = 200% Bonus AVRK
$1,255 – $6,000 = 300% Bonus AVRK
$6005 – $10,250 = 400% Bonus AVRK
More than $10,300 = 625% Bonus AVRK
Terms and Conditions
Bonus can ONLY be applied to purchases made AFTER the time of this message and can not be applied to any orders made BEFORE this post.
Bonus MUST be submitted within 24hrs of the completed purchase.
After purchase, please note your TXN order number and E-mail address used for your Avorak AI account and submit to any support staff via Website Live Chat, Telegram or Discord.
These bonuses and more goodies to come defines Avorak AI as a credible project worth investing in this year,
More on Avorak AI here:
Website: https://avorak.ai
Buy AVRK: https://invest.avorak.ai/register
Terra Classic Prepares For Major Parity Update
The post Terra Classic Prepares For Major Parity Update appeared first on Coinpedia Fintech News
The Joint L1 Task Force (L1TF), consisting of Classic Terra core developers, is gearing up for the Terra Classic blockchain’s largest v2.1.1 parity update scheduled for June 14. Following the approval of proposal 11561, titled “Upgrade to v2.1.0,” by the Terra Luna Classic (LUNC) community, the L1TF upgrade provides an update on the specifics and status of the upcoming upgrades.
Re-peg On The Way: USTC to Hit $1 Soon After Terra Resolution is Accepted
A recent community-driven development within the Terra Classic (LUNC) sphere could be a significant step towards aligning TerraClassicUSD (USTC) back to its original $1 peg. The decisive initiative, ushered in by the L1 Team, intends to establish an experimental environment that would simulate conditions necessary for a successful USTC re-alignment.
Setting Up a Crucial Experiment
The L1 Joint Task Force (L1JTF), in their quest to examine an array of concepts aiding the USTC realignment, intends to generate this testing environment. In a recent public announcement, LuncBurnArmy (LBA), the project overseer of the L1JTF, provided details of this initiative, referring to the dedicated Agora text for additional information.
The proposal’s most attractive feature is that it does not necessitate any extra community funds. Instead, it will employ the existing budget already set aside for the L1 team. A portion of the computer budget allocated for their second-quarter work will help establish the USTC test environment.
Probing Potential Solutions
The L1 Task Force envisions that the creation of this experimental USTC environment will provide a playground for a variety of ideas, which could be the key to reestablishing USTC’s dollar peg. This reestablishment is a primary target in the revitalization effort, alongside diminishing LUNC’s significant supply.
Community voting on this proposal has concluded, revealing robust support for the idea. A total of 49 validators participated in the vote, with a remarkable 40 validators endorsing the proposal, while the rest abstained. Interestingly, no validator opposed the idea, with significant validators such as Allnodes and Orion showing their support.
The L1 Team’s proposal’s successful passage implies the team will utilize a small fraction of the Q2 budget to engineer the USTC test environment. This novel testing environment will enable the L1 Team and other interested stakeholders to evaluate potential USTC re-peg events, ensuring a thorough trial before actual implementation.
Hollywood X PEPE ($HXPE) Surges Ahead of Wall Street Memes Token and Eco Terra: A Comparative Analysis
As the crypto market continues to surge, three innovative tokens are making their way to the top: Wall Street Memes Token, Eco Terra, and Hollywood X PEPE ($HXPE). In this analysis, we will delve deep into the unique characteristics of each token, their progress so far, and why Hollywood X PEPE ($HXPE) is becoming an industry leader. Spoiler alert: they have already raised a whopping 30M USD, and bagged a spot on the popular Killer Whales Crypto show. Let’s dig in.
Hollywood X PEPE ($HXPE)
Hollywood X PEPE ($HXPE), the shining star among the three, has managed to create a significant buzz in the crypto world. As a token centered around the intersection of pop culture, Hollywood, and digital currency, $HXPE has carved out a unique niche for itself.
The reasons behind the success of $HXPE are manifold. Firstly, they have succeeded in raising a staggering 30M USD. This significant funding has allowed the token to invest in infrastructure, secure its technology, and provide liquidity, instilling trust and confidence among investors.
Secondly, securing a spot on the much-coveted Killer Whales Crypto show has propelled $HXPE into the spotlight, further garnering attention and facilitating a growing community. This achievement not only speaks to its popularity but also its legitimacy as a serious contender in the crypto space.
Finally, the structure of $HXPE itself is noteworthy. By integrating the glamour of Hollywood with the exciting world of cryptocurrency, $HXPE offers an engaging and interactive community for investors. Their tokenomics model, coupled with an ambitious roadmap, has piqued investor interest, further driving its success.
Wall Street Memes Token
With its roots in the popular culture of internet finance memes, Wall Street Memes Token has brought a new level of energy and engagement to the cryptocurrency market. This token has successfully harnessed the power of meme culture to engage with a community that is deeply versed in internet humor. However, while it has achieved notoriety through a unique and compelling approach to community engagement, its financial structures, roadmap, and token economics remain relatively traditional and unambitious compared to its competitors.
Eco Terra
Hollywood X PEPE – $HXPE Token – $PEPE goes to Hollywood & becomes a star. – YouTube
Eco Terra, on the other hand, stands as an environmentalist’s dream in the crypto world. It marries digital currency with sustainability, advocating for a better environment through its transactions. The premise of this token is intriguing, making it a significant competitor in the world of crypto. Still, despite its potential, Eco Terra is yet to make a substantial impact on the market in terms of its market cap or investor base. Its unique proposition has not entirely resonated with the broader crypto community, which may be due to a lack of aggressive marketing or a not fully understood concept.
Conclusion
In comparison, while Wall Street Memes Token and Eco Terra bring unique concepts to the table, Hollywood X PEPE ($HXPE) has surged ahead in terms of both financial achievements and overall market impact. The blend of significant funding, exposure on a renowned crypto show, and a captivating concept makes $HXPE the leader of the pack. As the world of crypto continues to evolve, it will be exciting to see how these tokens adapt and grow.
Sparklo (SPRK) Projected to Overtake Terra Classic (LUNC) And Kava (KAVA) In 2023
In the face of recent setbacks and price drops in the crypto space, crypto investors are on the lookout for projects that not only offer promising returns but also have the backing of valuable commodities such as gold. While well-known projects like Terra Classic (LUNC) and Kava (KAVA) may hold potential for future growth, investors are gravitating towards innovative projects like Sparklo, which provides the appeal of NFTs supported by precious metals.
Why Sparklo (SPRK) is the new gold mine
Sparklo is about to reshape the precious metals investment sector with a new blockchain platform. This platform will provide users with the chance to engage in the precious metals market, acquiring either fractional shares or whole quantities represented as unique NFTs. Each NFT will be fully backed by actual platinum, gold, or silver.
To increase trust and ensure transparency, Sparklo’s liquidity will be locked in for a century, stopping any abrupt sell-offs post-launch. The team’s tokens will also be locked for a significant period of 1000 days. Also, Sparklo has had its smart contract audited by the InterFi network and has successfully completed the KYC process.
Through these measures, Sparklo seeks to inspire confidence among its investors and enhance the long-term worth of the project. Presently, Sparklo is holding its second token presale phase, offering the SPRK token at a price of just $0.026 per token. This is a good opportunity for investors to join before the project launches.
Kava (KAVA) price jumps 10% as trading volume surges
At press time, the price of Kava (KAVA) has skyrocketed by 10.79% in the past 24 hours to $1.21. Kava (KAVA) trading volume has also touched $202,497,383, a surge of 429.50% compared to the volume recorded a day earlier. This upswing in the trading activity of Kava (KAVA) indicates a recent surge of interest in the market.
However, the sudden leap in Kava’s (KAVA) price has taken many by surprise, particularly since there have been no major announcements or developments that would typically be associated with such a substantial increase. Perhaps, Kava’s (KAVA) recent price jump could be a temporary occurrence.
Binance to carry out Fetch.ai and Terra Classic (LUNC) upgrades
Binance, the world’s largest crypto exchange, has officially announced its endorsement for the upcoming network upgrades of Fetch.ai (FET) and Terra Classic (LUNC). These upgrades are designed to enhance the functionality and performance of the respective blockchain networks, providing users with greater stability and improved features.
The network upgrade for Terra Classic (LUNC) is scheduled to take place at the Terra Classic block height of 12,902,400. As part of this process, Binance will temporarily halt deposits and withdrawals for Terra Classic (LUNC) and USTC via the Terra Classic network starting from May 23, 2023.
Find out about the Sparklo (SPRK) presale using the links below:
Website: https://sparklo.finance
Presale: https://invest.sparklo.finance
Twitter: https://twitter.com/sparklo_finance
Telegram: https://t.me/sparklofinance
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Bitfinex Backs Terra Classic Tax Burn Hike to 0.5%
The post Bitfinex Backs Terra Classic Tax Burn Hike to 0.5% appeared first on Coinpedia Fintech News
Bitfinex to back Tax Burn on Terra Classis Network transactions. LUNA Classic’s tax burn was raised to 0.5% with Bitfinex’s backing. Deposits & Withdrawals for LUNC Classic & TerraUSD suspended on Bitfinex On May 23, 2023, at 19:00 (UTC). LUNA & TerraUST access will resume after tax burn updates and stable network. Bitfinex to update on Deposit & Withdrawal reopening via Social Media. where customers can check the procedures status via API anytime, 0.5% tax deducted by Terra Classic Network.
Terra Classic (LUNC) Price Might Crash 80% If Bitcoin Drops Below This Crucial Level
In a recent tweet, Tobias Andersen, a senior software developer, and former Terra Classic layer-1 team member, raised concerns about the possibility of LUNC revisiting its all-time low (ATL) value of $0.00001675. He believes that if the selling pressure on Bitcoin (BTC) continues and drives the cryptocurrency to the $22,500 price range, LUNC’s price could suffer further.
Crypto Market Fakeouts and Their Impact
Andersen, known as “Zaradar” on Twitter, has warned against crypto market fakeouts, which occur when an asset falsely indicates a price breakout, causing a rapid price reversal. He emphasizes that such events can harm traders and negatively impact market sentiment. In response to a recent drop of 5% in BTC’s price within an hour, he expressed his concerns, particularly as BTC fell to $26,777, reaching a 7-week low. The developer also noted that these fakeouts can have a detrimental effect on other assets.
Selling Pressure on Bitcoin Raises Concerns
The immense selling pressure witnessed in the Bitcoin market this week has contributed to the prevailing pessimistic mood. Crypto analytics firm Material Indicators reported a significant transfer of 9,800 BTC from an unnamed wallet, which has generated speculations of a “possible government seizure” or “whale dumping.” Although the transaction’s source remains unknown, experts speculate that it might be a routine transfer between two major exchanges or businesses.
LUNC’s Struggle
BTC’s uncertain future has also impacted other assets, including LUNC. As a low-cap altcoin, LUNC has faced challenges in gaining traction and recovering from its recent price drop. Despite experiencing a 10% gain in the past two days, the token is still down 81% from its all-time low. As Zaradar predicted, if BTC’s price drops to $22,500, LUNC might face further losses and retest its all-time low, potentially leading to a decline of Terra (LUNA) to $0.50.
This Might Interest You: Terraform Labs Shocks Crypto Community with Million-Dollar Token Transfer – Coinpedia Fintech News
Terra Classic Community Support and Future Prospects
The Terra Classic community continues to rally behind the revitalization initiative. The L1 team recently recommended a chain update to v2.0.1, aligning with the capabilities and interoperability of Cosmos and Terra 2.0. The community’s overall approval of these updates could pave the way for new ventures and partnerships, fostering the growth and development of the Terra Classic ecosystem.
In conclusion, the volatile nature of the crypto market necessitates diversification for investors. While LUNC may face short-term hurdles, the future of the Terra Classic ecosystem depends on its continuous improvement and adoption of new use cases.
As Andersen succinctly stated, “if BTC reaches $22,500, LUNC will retest its all-time low, and LUNA will likely drop below 50 cents or less.”
The Crypto Project Everyone’s Talking About Over Cronos (CRO) and Terra Classic (LUNC)
Are you looking for the next big thing in the world of cryptocurrency? Check out Sparklo – the latest crypto project that has got everyone talking. It has a unique and innovative approach to blockchain technology, helping it to gain popularity among investors and enthusiasts.
Some even say it’s set to outperform established players like Cronos (CRO) and Terra Classic (LUNC). So, what are you waiting for? Take advantage of this exciting opportunity to invest in the future of crypto. Read on and discover why Sparklo is the talk of the town.
Sparklo (SPRK): The Must-Have Investment Of 2023
Sparklo is a new crypto platform that allows investors to make money from trading precious metals. This investment opportunity is unique as fractionalized NFTs secure it.
With its fractionalization and trading platform, Sparklo is opening the doors to a wide range of investors. Those who are wealthy and humble mean CBA leverages the fractionalized model and makes money. As such, Sparklo aims to become the first Altcoin project tailored for crypto investors.
One of the most attractive features of Sparklo is that it offers investors first access to new products and discounts. Sparklo will partner with jewellery stores to bring new products to market. This partnership will allow its users to enjoy exclusive access to luxury items and diversify their portfolios.
Sparklo has passed its audit with Interfi Network, and its liquidity will be locked for 100 years to ensure investor safety. The team has also passed KYC and received their KYC certification from Block Audit Report.
Sparklo’s presale is currently ongoing, with a price of $0.019 per SPRK token. Investors can benefit from a 40% bonus on all purchases until June 20, which means that if they buy 100,000 tokens, they will receive 140,000 tokens.
Cronos (CRO) Cryptocurrency Falls Short: Understanding the Market Trends and Potential Risks for Investors
Cronos (CRO) is another cryptocurrency that could be doing better. Not many people are trading it right now. This is because the number of people buying and selling Cronos (CRO) is lower than it usually is over the past seven days.
Because there is limited data on Cronos (CRO), some investors might not want to invest in it. Even though it started strong, Cronos (CRO) is gaining little popularity in the market and is losing momentum quickly.
As a result, Cronos (CRO) needs help keeping up with all the changes happening in the market. People who want to invest in Cronos (CRO) have been warned to be careful because it’s not doing well.
Terra Classic (LUNC) Testnet Upgrade to Version 2.0.0: Boosting Security and Functionality for the LUNC Blockchain
The Terra Classic (LUNC) blockchain recently underwent a major upgrade to version 2.0.0, which could increase the value of the Terra Classic (LUNC) token, LUNC. This is a critical milestone for the project and shows that the team is actively working to improve the ecosystem.
The upgrade was successful, and the Terra Classic (LUNC) team plans to upgrade the Terra Classic mainnet to version 2.0.0 on May 17. This will introduce several upgrades that will further enhance the security and functionality of the Terra Classic (LUNC) network.
The news of the upgrade has been met with enthusiasm from the LUNC community, with some investors predicting that the Terra Classic (LUNC) token’s value will continue to rise. This will aid the adoption and usage of the token over time.
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BREAKING: South Korean Authorities Indict Terra Co-Founder Daniel Shin
Daniel Shin, the co-founder of Terraform Labs, has been indicted on allegations of violating capital market legislation and other charges by South Korean authorities, according to a recent Bloomberg report. This comes after the recent arrest of Terraform Labs’ founder Do Kwon last month on suspicion of forgery.
Daniel Shin Indicted for Violating Capital Markets Law
Terraform Labs co-founder Daniel Shin and nine others have been indicted by South Korea on various charges, including the violation of capital markets law, in connection to the failed Terra cryptocurrency project that collapsed last year.
At a news conference, Dan Sung Han, the prosecutor who oversees the financial crime investigation department, revealed that so far, prosecutors had frozen 246.8 billion won ($184.7 million) in assets from the suspects. Eight people, including Shin, have been indicted for illegal trading, while two others have been charged with breach of trust. All of those charged have a direct connection to Terra, including involvement in marketing, systems development, and management.
According to his lawyer, Kim Ki-dong, Shin bears no responsibility for the Terra and Luna collapse, as he had left the company two years prior to the event. Kim added that Shin voluntarily returned to South Korea soon after the collapse and has been cooperating with the authorities for over 10 months to assist with the fact-finding process.
Background of the Terra Labs Collapse
The collapse of Terra occurred last summer when the algorithmic stablecoin, TerraUSD, deviated from its 1:1 peg with the US dollar, resulting in significant disruption throughout the cryptocurrency markets. These events contributed to a broader downturn of $2 trillion in the crypto market.
The incident caused a ripple effect that led to several crypto firms, including Three Arrows Capital, Voyager, and Celsius, going bankrupt. Officials have described the Terra project as a “fabrication” since its inception, citing an algorithm that was impossible to get right in maintaining TerraUSD’s stable price.
It was further alleged that Shin and other charged individuals have caused “astronomical damage” to global investors.