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Bearish Signal Flashing for LUNA Price! 250K LUNA to Flood Into the Market Dragging the Price Below $1 Soon!

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Jun 17, 2022

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LUNA 2.0 price appears again in danger as more than 250K LUNA is about to hit the centralized exchanges very soon. Moreover, these tokens are expected to get liquidated immediately creating massive selling pressure on the asset. Therefore, the LUNA price is expected to be extremely volatile in the upcoming days, as they may register an all-time low very soon.

TerraClassicโ€™s sister token Terra incepted trade amid the bearish trend which was ignited by the UST de-peg event, maybe on the verge to fall by more than 50% very soon. In a recent update, the LUNA builder emergency allocation was released a couple of hours before and will be distributed among 52 projects on Terra 2.0. Nearly 50% of the tokens distributed are expected to flood into the market which may impact the LUNA price largely. 

Nearly 5 million LUNA was allocated to the emergency multisig wallet out of which, 50% i.e. 250,000 LUNA could be liquidated immediately. This dump is about to impact the LUNA price to a larger extent, which is expected to drop below $2. The possibility of a major FUD circulating within the space is also at its peak and this may further drag the price below $1. However, the pullback is expected to be a short-lived one as the prices could rebound firmly. 

Mainly for the reason that the founders of the LUNA DAO are said to have done huge things before which were cumulatively sold for more than $1 billion. Therefore, the projects which are been built on Terra 2.0 could also fuel the price towards the north. While the community appears to be still in disbelief as the platform is funding new people instead of re-paying the ones who have lost in millions. 

On the other hand, TerraClassic (LUNC) price is believed to recover at the earliest much before LUNA 2.0 price. A rumour of the big hands cashing out in the disguise of projects is also making noise within the space. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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