Frenzy buying in Terra Luna ends; token dips 19% in 24 hours. What to expect ahead3 min read 13 Sep 2022, 07:16 PM IST
Last week, Luna was the 58th largest cryptocurrency on CoinMarketCap with a market cap of more than $3 billion. Currently, the token dropped 16 places to become the 74th largest crypto.
The frenzy buying in Terra Luna seems to have worn out as the token slipped nearly 19% on Tuesday. Investors booked profits pushing Luna to stumble to 74th rank in the top 100 cryptocurrency list. Last week, Luna made a more than 361% monthly rise due to approval for a 1.2% tax burn proposal of Terra Classic Lunc. However, currently, the token is under pressure. Does this mean, Luna has entered into a volatile zone?
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