LUNA 2.0 Nearing All-Time Low—Bounce or Demise?

  • LUNA 2.0 is nearing its all-time low price and is currently trading at $4.08.
  • Some LUNA hypers are beginning to lose hope.
  • Meanwhile, India might charge a 30% tax to citizens who received LUNA airdrop.

Terra’s new iteration of LUNA has been anticlimactic at best, as the current price is nearing its all-time low (ATL) price of $4.08. At the time of writing, LUNA 2.0 is changing hands at $4.93, as per CoinGecko.

At the moment, LUNA is showing barely any signs of promise despite a huge portion of the airdrop being locked until further notice. As such, some people who tried to hype LUNA are losing hope instead.

Recent news are not helping either, as experts pointed out the possibility of India charging a 30% tax to citizens who received the LUNA 2.0 airdrop.

LUNA/USDT 1-day chart (source: TradingView)

The 1-day chart shows that there won’t be a lot of trading activity happening around LUNA in the near future. This is supported by the low trading volume.

On the other hand, some choose to cut LUNA some slack since it has barely existed for two weeks. It will definitely take some time before LUNA shows a different market sentiment other than indecision and disinterest.

The Terra ecosystem is far from disarray, and authorities have yet to conclude their investigation of the incident. However, Do Kwon and critical Terra supporters remain engaged and fixated on their project. At this rate, only time will decide whether LUNA will become the biggest comeback story in the crypto space, or if history will only repeat itself.

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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.