Shaky Restart 🏃‍♀️

Table of Contents

Shaky Restart

Yesterday we discussed how the Terra community and its developers have decided to regroup and launch a “Terra 2.0.” The idea scraps the former centerpiece of the project and Stablecoin “Terra,” which helped trigger the collapse. In the revived version of the project, Terra plans to distribute tokens to holders of the old Luna, soon to be renamed “Luna Classic,” and UST tokens. Investors and developers appear mixed on whether the revival will succeed. So far, the new token “Luna Classic” has not been performing too hot. The token is trading on exchanges including Bybit, Kucoin, and Huobi. Binance, one of the largest crypto exchanges in the world, plans to list Luna on Tuesday. The price movement of Luna Classic was initially positive, with the token reaching a peak of $19.53 on Saturday before tanking to just $4.39 hours later. According to CoinMarketCap data, it has since settled at a price of around $5.90.

One of the major concerns weighing down the price of Luna Classic is the competition in the crypto space. With so many other Layer 1 blockchains, Terra 2.0 will be just another competitor in a game where many others are already far ahead. To top it all off, investors and developers in the Terra Ecosystem were highly skeptical of Terra 2.0 given what happened the first time around. Even so, Terra is going ahead with an “airdrop,” in which most tokens will go to those who held Luna Classic and UST before their collapse, in an effort to compensate for losses.

What do you think about the negative price movement in Luna Classic, and will the token ever return to its former glory?

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:
More Posts
PGA Tour Enters Investment Talks 💪
29 September, 2023

As reported on Thursday, both Endeavor Group and Fenway Sports have displayed interest and begun discussions to provide investment in the PGA Tour.
Nike Just Didn’t Do It 📉
29 September, 2023

Providing one of the biggest earnings reports of the week, $140 billion shoe and clothing retailer Nike posted a significant slip.
Market Recap – September 28th 💰
29 September, 2023

After the 10-year Treasury yield bond fell off from its 15-year high, investors added some value back into the market, focusing all short-term attention on Friday’s PCE price index reading.
The Crude Oil Bust 🛢
28 September, 2023

Surging global crude oil prices, driven by factors like OPEC+ production cuts have pushed U.S. West Texas Intermediate futures to over $95 per barrel.

Load More
Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Facebook Twitter Youtube Instagram Snapchat Tiktok
learn
products
plan
Who we are
blog

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.