{"id":238856,"date":"2022-06-04T16:00:49","date_gmt":"2022-06-04T10:30:49","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=238856"},"modified":"2022-06-04T16:01:31","modified_gmt":"2022-06-04T10:31:31","slug":"even-a-week-after-launch-of-lunc-it-appears-do-kwons-problems-are-far-from-over","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/even-a-week-after-launch-of-lunc-it-appears-do-kwons-problems-are-far-from-over\/","title":{"rendered":"Even a week after launch of LUNA, it appears Do Kwon\u2019s problems are far from over"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Following the <\/span><a href=\"http:\/\/ambcrypto.com\/terra-2-0-proposal-gets-the-crypto-communitys-nod-of-approval-but-thats-not-all\/\"><span style=\"font-weight: 400;\">forking<\/span><\/a><span style=\"font-weight: 400;\"> of the Terra chain and the subsequent launch of Terra\u2019s Luna 2.0, the token has since suffered extreme volatility. For example, following the listing on cryptocurrency exchange Binance, the price per LUNA token grew by 39.41% last Tuesday. This was however soon followed by a severe decline that plunged the token below the $10 price index.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, when the newly minted token was first listed on Bybit, it registered a high of $30. This was soon followed by a price reversal that led the token to lose over 80% of its value in less than two hours.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Down by over 50% since it was first listed just seven days ago, the token appears to be off to a rocky start. Let\u2019s take a closer look at the performance of this token vis-a-vis that of the now collapsed Terra Classic( LUNC) in the last seven days.<\/span><\/p>\n<h3><b>Birds of a Feather<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">First listed seven days ago with the hopes of reviving the failed LUNC token, Terra\u2019s Luna 2.0 token has struggled to keep the bears away. Data from Coinmarketcap showed that the token hit the cryptocurrency exchanges with an index price of $17.8. The token hit both sides of the price spectrum as it marked an ATH of $19.54 on the day of its launch and hit an ATL of $3.63 on the same day. At the time of press, the price per Luna token stood at $6.38, registering a 64% decline since it launched and a 9% loss in the last 24 hours.<\/span><\/p>\n<figure id=\"attachment_238858\" aria-describedby=\"caption-attachment-238858\" style=\"width: 1858px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNA_7D_graph_coinmarketcap.png\"><img decoding=\"async\" class=\"wp-image-238858 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNA_7D_graph_coinmarketcap.png\" alt=\"\" width=\"1858\" height=\"800\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNA_7D_graph_coinmarketcap.png 1858w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNA_7D_graph_coinmarketcap-300x129.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNA_7D_graph_coinmarketcap-1024x441.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNA_7D_graph_coinmarketcap-768x331.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNA_7D_graph_coinmarketcap-1536x661.png 1536w\" sizes=\"(max-width: 1858px) 100vw, 1858px\" \/><\/a><figcaption id=\"caption-attachment-238858\" class=\"wp-caption-text\">Source: Coinmarketcap<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The LUNC token was no different. This token also saw a 22% price decimation in the last seven days.<br \/>\n<\/span><\/p>\n<figure id=\"attachment_238860\" aria-describedby=\"caption-attachment-238860\" style=\"width: 1858px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNC_7D_graph_coinmarketcap.png\"><img decoding=\"async\" class=\"wp-image-238860 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNC_7D_graph_coinmarketcap.png\" alt=\"\" width=\"1858\" height=\"800\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNC_7D_graph_coinmarketcap.png 1858w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNC_7D_graph_coinmarketcap-300x129.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNC_7D_graph_coinmarketcap-1024x441.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNC_7D_graph_coinmarketcap-768x331.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNC_7D_graph_coinmarketcap-1536x661.png 1536w\" sizes=\"(max-width: 1858px) 100vw, 1858px\" \/><\/a><figcaption id=\"caption-attachment-238860\" class=\"wp-caption-text\">Source: Coinmarketcap<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">At the time of writing, the market capitalization of the Luna token remained unknown. However, CoinMarketCap reported that according to the promoters of the project, the self-reported CS of the token stood at 210,000,000 LUNA with a self-reported market cap of $1,343,354,760.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other hand, the market capitalization of the LUNC token at press time stood at $613.56m, a 24% decline from the $808.44 marked seven days ago. <\/span><\/p>\n<h3><b>Price Movements<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Since launch, the Relative Strength Index (RSI) and the Money Flow Index (MFI) for the Luna token have been positioned deeply in the oversold regions. At the time of press, the RSI stood at 22.16. Also deep in the oversold region, the MFI at the time of writing, stood at 0.41.<\/span><\/p>\n<figure id=\"attachment_238865\" aria-describedby=\"caption-attachment-238865\" style=\"width: 2708px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNAUSDT_2022-06-04_07-21-34.png\"><img decoding=\"async\" class=\"wp-image-238865 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNAUSDT_2022-06-04_07-21-34.png\" alt=\"\" width=\"2708\" height=\"1280\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNAUSDT_2022-06-04_07-21-34.png 2708w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNAUSDT_2022-06-04_07-21-34-300x142.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNAUSDT_2022-06-04_07-21-34-1024x484.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNAUSDT_2022-06-04_07-21-34-768x363.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNAUSDT_2022-06-04_07-21-34-1536x726.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNAUSDT_2022-06-04_07-21-34-2048x968.png 2048w\" sizes=\"(max-width: 2708px) 100vw, 2708px\" \/><\/a><figcaption id=\"caption-attachment-238865\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">It is worthy of note to point out that while the RSI for the LUNC token maintained a position below the 15 index for the last seven days, the MFI on the other hand embarked on an upward curve. With a steady movement towards the 50 neutral region over the course of the last seven days, the MFI was stationed at 56.62 at the time of press. With a decline in price within the period under review, a rising MFI generally indicates an impending bullish run.<\/span><\/p>\n<figure id=\"attachment_238866\" aria-describedby=\"caption-attachment-238866\" style=\"width: 2708px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNCUSDT_2022-06-04_07-26-11.png\"><img decoding=\"async\" class=\"wp-image-238866 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNCUSDT_2022-06-04_07-26-11.png\" alt=\"\" width=\"2708\" height=\"1280\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNCUSDT_2022-06-04_07-26-11.png 2708w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNCUSDT_2022-06-04_07-26-11-300x142.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNCUSDT_2022-06-04_07-26-11-1024x484.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNCUSDT_2022-06-04_07-26-11-768x363.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNCUSDT_2022-06-04_07-26-11-1536x726.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/LUNCUSDT_2022-06-04_07-26-11-2048x968.png 2048w\" sizes=\"(max-width: 2708px) 100vw, 2708px\" \/><\/a><figcaption id=\"caption-attachment-238866\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<h3><b>No Place for Kwon to Hide\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">On-Chain data showed that on a social front, the LUNC suffered a decline in the last seven days. Social Dominance saw an 84% decline. The Social Volume also went down by 84% during the course of the last seven days.\u00a0<\/span><\/p>\n<figure id=\"attachment_238870\" aria-describedby=\"caption-attachment-238870\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-Classic-LUNC-07.34.43-04-Jun-2022.png\"><img decoding=\"async\" class=\"wp-image-238870 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-Classic-LUNC-07.34.43-04-Jun-2022.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-Classic-LUNC-07.34.43-04-Jun-2022.png 3840w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-Classic-LUNC-07.34.43-04-Jun-2022-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-Classic-LUNC-07.34.43-04-Jun-2022-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-Classic-LUNC-07.34.43-04-Jun-2022-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-Classic-LUNC-07.34.43-04-Jun-2022-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-Classic-LUNC-07.34.43-04-Jun-2022-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-238870\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Worthy of note are the indexes for the development activity of both tokens. With increased activity within the Terra Ecosystem to save the project, the development activity for both Luna and LUNC tokens recorded a gradual spike in the last seven days. At press time, development activity for the Luna and LUNC tokens stood at 22 and 31 respectively.\u00a0\u00a0<\/span><\/p>\n<figure id=\"attachment_238871\" aria-describedby=\"caption-attachment-238871\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-LUNA-07.42.32-04-Jun-2022.png\"><img decoding=\"async\" class=\"wp-image-238871 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-LUNA-07.42.32-04-Jun-2022.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-LUNA-07.42.32-04-Jun-2022.png 3840w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-LUNA-07.42.32-04-Jun-2022-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-LUNA-07.42.32-04-Jun-2022-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-LUNA-07.42.32-04-Jun-2022-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-LUNA-07.42.32-04-Jun-2022-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-LUNA-07.42.32-04-Jun-2022-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-238871\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<figure id=\"attachment_238872\" aria-describedby=\"caption-attachment-238872\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-Classic-LUNC-07.42.35-04-Jun-2022.png\"><img decoding=\"async\" class=\"wp-image-238872 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-Classic-LUNC-07.42.35-04-Jun-2022.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-Classic-LUNC-07.42.35-04-Jun-2022.png 3840w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-Classic-LUNC-07.42.35-04-Jun-2022-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-Classic-LUNC-07.42.35-04-Jun-2022-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-Classic-LUNC-07.42.35-04-Jun-2022-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-Classic-LUNC-07.42.35-04-Jun-2022-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/06\/Terra-Classic-LUNC-07.42.35-04-Jun-2022-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-238872\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Following the forking of the Terra chain and the subsequent launch of Terra\u2019s Luna 2.0, the token has since suffered extreme volatility. For example, following the listing on cryptocurrency exchange Binance, the price per LUNA token grew by 39.41% last Tuesday. This was however soon followed by a severe decline that plunged the token below<a href=\"https:\/\/ambcrypto.com\/even-a-week-after-launch-of-lunc-it-appears-do-kwons-problems-are-far-from-over\/\">Continue reading <span class=\"sr-only\">&#8220;Even a week after launch of LUNA, it appears Do Kwon\u2019s problems are far from over&#8221;<\/span><\/a><\/p>\n","protected":false},"author":64,"featured_media":238873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,41,66,3,4,20],"tags":[1387,2825,2788],"class_list":["post-238856","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-analysis","category-new-news","category-news","category-social","category-trading-view","tag-luna","tag-luna-ath","tag-luna-price-rally"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Even a week after launch of LUNA, it appears Do Kwon\u2019s problems are far from over - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Seven days after the launch of the new LUNA token, it appears Do Kwon\u2019s problems might be far from over. 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