The post Terra LUNA, LUNC Pump Back Over $1 Bn Market Cap – Which Undervalued Cryptos Are Next To Explode appeared first on Coinpedia Fintech News

Terra (LUNA) and Terra Classic (LUNC) have recently surpassed a $1 billion fully diluted market cap, causing many investors to question whether these cryptocurrencies are overvalued.

As the market continues to fluctuate, we will explore which undervalued cryptos could be the next to explode in the coming weeks.  

LUNA Continues Price Rise, But Can Its Recovery Be Sustained?

LUNA is a token that emerged after the collapse of the original Terra blockchain and ecosystem.

This new iteration aimed to rebuild after the catastrophic downfall of TerraClassicUSD (UST) brought the original Terra ecosystem to its knees.

LUNA, initially designed to maintain UST’s peg, lost nearly all of its value.

However, the new LUNA token now serves as a governance token for the revamped Terra blockchain, which doesn’t feature a stablecoin.

LUNA’s price has seen exceptional growth recently, rising over 118% in the past month.

The token is currently hovering around the $1.03 level and boasts a fully-diluted market cap of $1.03 billion.

LUNA’s impressive recovery has recently been one of the most significant talking points in the market, demonstrating the Terra community’s resilience.

However, it remains unclear whether LUNA’s growth is justified or if the token is still overvalued due to market hype.

As such, LUNA still faces an uphill battle to regain trust and stabilize its price over the long term.

Terra Classic Stages Impressive Comeback, Yet Doubts Remain Over Ecosystem

While LUNA emerged as a new project, Terra Classic represents the remnant of the original blockchain.

LUNC serves as the native token of Terra Classic, which is the original Terra mainnet that housed the failed UST stablecoin.

In contrast to the rebranded LUNA token, LUNC maintains its original purpose – primarily used for staking, governance, and stabilizing the stablecoin TerraUSDClassic (USTC).

Much like LUNA, LUNC has seen impressive growth recently, with price up 216% in the past month.

Its fully diluted market cap now exceeds $1.4 billion – yet the token remains highly volatile.

LUNC’s surprise rise has also raised questions about whether the token can now be classed as overvalued.

On the one hand, interest in the original Terra ecosystem persists, with a community still actively backing LUNC and USTC.

However, the strain left from the catastrophic UST de-pegging leaves doubts about the long-term viability of LUNC.

Ultimately, while the price surges of Terra and Terra Classic have been impressive, both may still be overvalued compared to their peers in the crypto market.

TG.Casino & Bitcoin Minetrix Offer Hidden Gem Potential for Crypto Investors

As LUNA and LUNC grab headlines with their price spikes, other fresh crypto projects are quietly making progress in the background.

Two potential hidden gems are TG.Casino (TGC) and Bitcoin Minetrix (BTCMTX), both of which are in their presale phases.

TG.Casino aims to disrupt the online gambling industry by creating an intuitive, anonymous crypto-gambling experience on Telegram.

With instant deposits/withdrawals, no KYC, and access to hundreds of casino games from top providers, TG.Casino provides a seamless user experience.

TGC holders receive attractive rewards like 25% cashback on losses and staking yields of 173% per year.

The TG.Casino presale has raised over $3.4 million so far, with the project looking poised to capitalize on the growth of crypto gambling.

On the other hand, Bitcoin Minetrix pioneers a new “stake-to-mine” model that allows users to earn BTC passively.

By staking BTCMTX tokens, users generate mining credits that are redeemable for cloud mining hash power to mine BTC.

This lowers the barriers to entry compared to the expensive hardware and electricity costs of traditional mining.

Offering 121% APY staking rewards, plus the upside of Bitcoin mining, has helped Bitcoin Minetrix’s presale raise over $4.9 million from early investors.

As speculation drives short-term price spikes in potentially overvalued cryptocurrencies like LUNA and LUNC, projects like TG.Casino and Bitcoin Minetrix aim to provide long-term value.

With solid use cases, growing community interest, and real-world utility, these two new cryptos could be considered undervalued amid the current market hype.

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Filed under: Bitcoin - @ December 6, 2023 5:24 pm