Here's What's Happening with LUNC after Yet Another Crash: Crypto Market Review, September 28

  • 📰 Utoday_en
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

$LUNC couldn't gain a foothold above the local resistance level and reversed, dropping to price levels we saw prior to the pump

was a pleasant surprise for its holders as the token was able to withstand the enormous selling and shorting pressure that was coming from traders and to break through every resistance level ahead, but not for long.reversed massively and lost around 10% from its value in a matter of 24 hours as traders saw no fundamental support behind the rally. The main fuel for it was Binance's agreement to implement a 1.2% transaction fee. All funds from the transaction will be sent to the burn address.

The initiative to burn LUNC was proposed for the sake of supporting the asset's value on the market as it has been pushed down actively by traders who have not seen any potential for the asset related to one of the most questionable personas in the whole industry, Do Kwon. However, industry experts did not expect anything exceptional even after the implementation of the proposal, as the burning mechanism is not enough to keep assets from continuously falling down. Use cases and network revenue are two fundamental factors that investors usually consider when looking for assets to invest in, and LUNC, unfortunately, does not have either of those.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Why aint nobodyy talkingg about thiss

I doon't undertand why news are silent aboout this

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 295. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin Dumped Sharply After Retesting $20K: Crypto Markets Shed $60B (Market Watch)The crypto market cap is down by almost $70 billion daily as BTC and almost all alts are deep in red now.
Source: Crypto_Potato - 🏆 568. / 51 Read more »