Terra Luna Classic (LUNC) has been plummeting since the start of 2023 and has dropped by 20% in the last month. Despite the launch of LUNC after LUNA crashed in 2022, this turbulent cryptocurrency has not been able to offer high returns in the market.
As an alternative to Terra Luna Classic, we will be looking at two new projects which are already pumping during their presale rounds. Keep reading to learn more about two brand new presale tokens – Wall Street Memes ($WSM) and Launchpad XYZ ($LPX).
Why is the Terra Luna Classic Dropping?
Terra Luna Classic (LUNC) is the rebranded version of LUNA, the old cryptocurrency token that existed on the Terra blockchain. In May 2022, LUNA crashed and acted as a starting point for a huge bear market in the cryptocurrency space.
The token crash occurred after the blockchain’s algorithmic stablecoin, ‘UST,’ lost its 1:1 pegging against the U.S. dollar last year. This all happened after the old LUNA token’s market cap dwindled after the supply fell below that of UST’s. Back then, the LUNA token acted as collateral for the UST stablecoin.
After this, the token crashed and the investors lost all their holdings. In May 2022, Luna Classic and the new Genesis block went live. While the cryptocurrency has recovered after the catastrophic downfall in the past year, there is still a lot of uncertainty and a lack of faith in this cryptocurrency project.
In 2023, when most top cryptocurrency tokens offered higher returns, LUNC struggled to offer any returns. From a price of $0.0002 in February 2023, $LUNC has corrected to a live price of just $0.000085 per token. This equates to a price correction of more than 57%.
In the last 30 days alone, the token is down by 20%. Along with the lack of faith that the market has in this cryptocurrency, the poor technicals are another reason which could indicate why this token is not performing better.
According to TradingView, the $LUNC token is in a ‘Sell’ zone in 14 of the 26 key trading technicals at the time of writing. The exponential and simple moving averages indicate that the token is not offering much support in the short term.
Thus, there is no guarantee of when LUNC may recover or start offering returns to investors.
As an alternative to this cryptocurrency, the sections below will review two new crypto projects with high growth potential in 2023 and beyond.
Wall Street Memes – the New Meme Coin That’s Raised Over $2.5m in Presale, Being Backed to Explode
While coins like LUNC struggle, one token making waves is Wall Street Memes, a new meme coin that’s now on presale.
Unlike other new meme cryptos such as Pepe and Milady, Wall Street Memes is an established group with a community of over 1 million members. This group has existed since 2019 and has seen influential celebrities like Elon Musk interact with its social media pages.
Wall Street Memes has released $WSM, its native token, on presale. While the $WSM token does not offer any utility, it has the backing of a large meme movement. In 2021, Wall Street Memes also released its own NFT legacy project – Wall St Bulls.
The first collection consisted of 10,000 NFTs and was sold out in 32 minutes. Wall Street Memes aims to generate wealth for its community through the $WSM token. Notably, $WSM will be a 100% community-based token.
From a total token supply of 2 billion, 50% has been allocated for the ongoing presale. A further 30% will be offered as community rewards on the ecosystem, while the remaining 20% will be used to maintain DEX and CEX liquidity.
The presale will consist of 30 rounds, as the price of $WSM increases from $0.025 to $0.0337 by the final round. At the time of writing, $WSM is priced at just $0.0265 per token. Wall Street Memes has raised more than $2.6 million in just a week since the presale started.
Launchpad XYZ – New Web3 Investment & Analytics Platform That’s Racing Through Presale
Another new token making waves is $LPX, the native token of Launchpad XYZ, which is a new crypto platform offering a single entry point for accessing multiple Web3 services. In this ecosystem, users can create a new Web3 wallet from where they can swap tokens, interact with DApps (Decentralized Applications), and gain self-custody of assets.
One can benefit from Launchpad XYZ by holding $LPX, the native cryptocurrency. Those who stake a monthly average of 10,000 $LPX can get discounts on trading fees. Furthermore, through Launchpad XYZ’s presale portal, users can also get guaranteed access to new Web3 presale listings.
With Launchpad XYZ, users can access an NFT decentralized exchange. By staking $LPX tokens, you get reduced fees and trade hundreds of asset pairs. One can also leverage $LPX to purchase fractionalized assets, gain trading insights on existing tokens, and access trading terminals.
Currently, $LPX is available to buy on presale for $0.0445 per token. The listing price is set at $0.0565 per token. From a total supply of 1 billion, 250 million tokens are being allocated equally over 10 presale rounds.
Since the presale started, Launchpad XYZ has raised over $843K. Join the Launchpad XYZ Telegram group to stay updated with the project.
The post Why Terra Luna Classic Price is Dropping? These New Tokens Pump appeared first on BeInCrypto.