Critics Warn Against LUNC as Fans Predict $0.001 Soon

  • In less than a week, LUNC has moved from $0.0001 to $0.00058 before experiencing a pullback.
  • Detractors claim LUNC is a “scam,” while fans believe it will reach $0.001 soon.
  • For clarity, LUNC and Terra (LUNA) are two different and mutually-exclusive cryptocurrencies.

Critics have started to warn people against buying Terra Luna Classic (LUNC) amid a phenomenal short term rally. In just less than a week, LUNC has reached up to $0.00058 from a flat $0.0001.

At the time of writing, LUNC is changing hands at $0.00050 per piece, according to CoinGecko. This translates to a whopping 24-hour and 7-day gain of 15.4% and 117.2%, respectively.

For context, the first photo in the post shows the entire price chart of LUNC after it has rebranded given its dismal fall from $110 to practically zero. Meanwhile, the second photo shows how the old Terra (LUNA) — which is now LUNC — plummeted in price earlier this year.

On the other hand, LUNC community members remain convinced that their beloved cryptocurrency has brighter days ahead of it. Some even claim it will reach $0.001 soon.

Time will tell whether detractors or fans will prevail regarding the eventual price of LUNC. As it stands, LUNC is undoubtedly the top-performing crypto in the 100 largest assets in market capitalization. Currently, LUNC is the 27th biggest crypto on CoinGecko.

For clarity, LUNC is the old Terra (LUNA). Do Kwon, Terraform Labs, and Terra network validators have decided to relaunch the Terra blockchain and re-issue LUNA after the aforementioned fiasco that caused many investors to lose money.

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Jesus covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.