Terra Luna Classic Price Prediction - Can LUNC Hit $3 in Next Bull Market?
The Terra Luna Classic price prediction is bearish, as the LUNC/USD pair has fallen below $0.000169, a support level extended by an upward trendline. The cryptocurrency market has recently been harsh on investors, with most cryptocurrencies unable to produce gains due to liquidity issues at FTX, Genesis, and many other crypto exchanges.
Terra Classic (LUNC) witnessed a slight price increase, bucking the trend of other large market-cap cryptocurrencies. According to CoinMarketCap data, the price of LUNC increased by more than 2% during the European session.
It was trading at $0.0001642 as of this writing, giving it a market cap of $982 million. Fear, uncertainty, and doubt (FUD) are still present in the market, so trading volume has dropped and has stayed below $1 billion.
Law enforcement agents in Singapore have reportedly opened an investigation against the troubled crypto lender Hodlnaut. The company's management are suspected of committing fraud and other crimes over the years.
An investigation into Hodlnaut's possible complicity in cheating and fraud was reportedly initiated by Singaporean authorities, as reported by Bloomberg.
As a result of multiple reports, the company's directors have been called out for "false claims relating to the company's exposure to a certain digital token." In August, the bitcoin lending platform in Singapore suspended withdrawals, deposits, and token swaps due to "challenging market conditions."
About 80% of its staff was let go, and interest rates were lowered, all within the span of a week after service was temporarily halted.
In an effort to "rehabilitate" the company and avoid a forced liquidation of its assets, Hodlnaut requested judicial management from the Singapore High Court.
Hodlnaut
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