LUNC Loses Value Catastrophically Quick, Among Worst Performing Assets

Oct 25,2022
LUNC Loses Value Catastrophically Quick, Among Worst Performing Assets

Luna Classic's price performance at the end of September added some expectations for investors, because the asset has already reversed, adding expectations for the next round of rebound. However, the lack of intrinsic value of tokens has pushed it down, and now it is becoming the worst performing one in all cryptocurrency markets.

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According to CoinMarketCap, LUNC has become one of the worst performing assets among the cryptocurrencies ranked by total market value within the past 24 hours. The asset has lost about 8% of its value in the past few hours. Although we saw the recovery of cryptocurrency sales market yesterday, it has been in a downward trend for more than a week.

LUNC Chart

LUNC has fallen below the critical support level, which was previously a natural barrier between the downward trend and the upward trend. Lack of consumption power and high popularity in the bear market of the stock market are the main reasons for Luna Classic to return to the total demand of the sales market in September.

Unfortunately, LUNC has a decline of more than 13% that needs to reach the local applicable level, which will become a potential reversal point of the asset. However, the overview of trading volume shows that even after the ignition system is packaged in its original way, the asset cannot be fully applied.

Recently, LUNC decided to cancel the 1.2% lighting fee that was carried out a few weeks ago. Although Binance is sure to accept this expense, the community feels that it will have a negative impact on the economic behavior of franchise stores, and there is no need to cancel some customer transactions to make a relatively unpopular franchise store more and more annoying.

As of the time of submission, LUNC's transaction price was US $0.00022, losing 7.4% of its value in the past 24 hours.