Terra Luna Classic (LUNC)

Terra Luna Classic (LUNC) Crashes 13%: Exchange Transfers & Market Selloff Fuel Bearish Trend

Terra Luna Classic (LUNC) has extended its weekly loss to over 10%, leaving investors on edge. As the price of LUNC continues to dip, several factors, including significant wallet transfers, broader market instability, and community concerns, are contributing to the bearish trend. Here’s a closer look at the current situation and what traders need to consider.

LUNC Price Drops Amid Increased Exchange Transfers

A key factor driving the current price slump is the large-scale transfer of LUNC tokens from wallets to major exchanges like Binance, Bitkub, Kraken, and Cryptex. According to an official X post from the Terra Luna Classic community, transfers exceeding 1 billion tokens have been recorded, raising alarm among investors. As more LUNC moves to exchange hot wallets, speculation about increased supply in the market has intensified, causing bearish sentiment to spread.

Market Selloff and DeepSeek’s Impact

The broader market’s downturn, triggered by the emergence of the Chinese AI startup DeepSeek, has also put pressure on the price of LUNC. Tech giants like Nvidia, Microsoft, and Alphabet have seen significant losses, contributing to a wider market selloff that has even affected cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). This market-wide decline has led many traders to adopt a more cautious approach, exacerbating the LUNC price drop.

Consolidation and Uncertainty in the LUNC Market

The ongoing large-scale transfers and liquidity adjustments have led to market consolidation, which some experts believe could be preparing the ground for a major shift in LUNC’s staking dynamics. However, the uncertainty remains, as traders may unstack their holdings and engage in further selling, potentially driving the price lower.

LUNC transactions are subject to a burn tax, which has driven investors to send smaller amounts to avoid higher processing costs. This has caused a surge in dump transactions as users test transaction speeds before committing larger transfers. Additionally, the infrastructure challenges within the Terra Luna Classic network, including slower processing times, are prompting some investors to seek alternatives with faster transaction capabilities.

Also Read: Terra Classic (LUNC) Breaks 410-Day Resistance: Bullish Momentum Could Drive 333% Surge

LUNC Price Outlook

As of the latest update, LUNC is trading at $0.00007618, reflecting a 13% drop in the last week and a staggering 32% loss over the past month. While the 24-hour chart shows a slight 3% gain, the overall outlook remains uncertain, and market observers will be closely monitoring future price movements as LUNC navigates through these challenging developments.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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