Jannah Theme License is not validated, Go to the theme options page to validate the license, You need a single license for each domain name.
Business

Why investing in Terra Classic (LUNC) is a bad idea

The value of Terra Classic (LUNC) plummeted below zero after the biggest crash ever seen in the crypto space. Cryptocurrencies refuse to “die” and instead have a following among crypto investors looking to make quick money from highly volatile cryptocurrencies. Even with its use, investing in LUNC may not be as good an investment as some users might expect due to many factors.

Terracamp uncertainty

After the Terra network crash that caused users to lose billions of dollars, Terra founder Do Kwon and others went on to create another token to be airdropped to its holders. But even this new cryptocurrency isn’t doing well.

Most of the issues came in a lawsuit against Terra founder Do Kwon and other parties. The search for the founder escalated after South Korean authorities issued an arrest warrant for him. However, South Korean authorities have refuted his claim that Kwon could not be contacted.

Singapore police have also confirmed that Terra’s founder is no longer in the country he moved to earlier this year. And on September 26th (Monday), it was confirmed that the international police (Interpol) issued a deficit notice to the founder.

This red notice means that wherever Kwon is, Interpol will charge local law enforcement to arrest him. Kwon claimed to have fully cooperated with authorities, but multiple arrest warrants were issued after South Korean authorities said he was uncooperative in any way.

Terra Classic (LUNC) is a bad idea

Cryptocurrencies have become very unstable due to issues that continue to plague the Terra network and its founders. This is compounded by the fact that there are now two tokens, with LUNA proving he is the more stable of the two.

Currently, LUNC is a gambler’s token, attracting people who basically play the market like a casino. This long-term lack of certainty makes tokens a bad play, especially for those looking for tokens to hold.

Recovery trends can be massive, but so can downturns. For example, the price of LUNC has fallen 25% during this time, while the rest of the market has actually shown a slight gain over the past seven days. In the last 24 hours, LUNC has recorded a loss of over 10% of his.

LUNC prices have reacted negatively to the news of Do Kwon’s arrest warrant. is the problem. When this happens, the price of Terra Classic could be lower than it was during the network he crash.

Featured image from Finbold, charts from TradingView.com

follow Best Owie on Twitter Market insights, updates, the occasional funny tweet…



Why investing in Terra Classic (LUNC) is a bad idea

Source link Why investing in Terra Classic (LUNC) is a bad idea

Related Articles

Back to top button