Old Luna adds more than 500% of new investors

Luna classic showing bullish pattern in terms of new holders of this coin. 

Terra is a blockchain Network, which was launched by Terraform labs. Initially, Terra blockchain was launched with two native tokens UST & Luna. But in May 2022, Luna & UST crashed badly due to the high-pressure sell situation among the Terra ecosystem investors. The Terra project team launched a new coin Luna2.0 and now the old Luna coin is known as the Luna classic. 

According to available data reports, the new on-chain unique Terra addresses are 560% higher than the last month, which is itself a big number in itself amid a lack of trust in this project. 

In May, the crypto Industry saw the collapse of the Terra ecosystem, which resulted in the wipeout of more than $10 billion in funds from the market within a few days. At present, there are very few crypto Investors, who are thinking that Terra’s renewed coin may result in profit. 

Few experts noted that we should not see this rapid increment in the unique numbers of addresses in the classic chains as an opportunity because many small investors invested penny amounts of money to get better returns. 

Luna classic price 

The current price of Luna classic (LUNC) is $0.00007174, which is 12.27% down over the last 24 hours’ trade price. 

Few people claimed that the situation seems much similar to the Shiba Inu token. The majority of the small budget & low IQ crypto investors are thinking that they can make 10x to 100x profit if Classic Luna coin will remove its one to two zeros. 

The majority of the small investors are looking at the past all-time high price of Luna but they are not looking at the current situation, where it is almost impossible for this coin to show increment like flagship assets.

Read also: Shiba Inu’s native testnet blockchain is closer to launch