Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Social engagement and daily mentions of LUNC broke a three-month record, according to LunarCrush, a social media analytics portal that tracks activity around cryptocurrencies.
Reaching the 9,550 daily social media mentions mark, the total for LUNC was 71,094 in the last 90 days. At the same time, LUNC's social engagement reached the 89.34 million mark. According to the source, social engagement has increased by 86.33%, and LUNC's social media dominance has increased by 47.23%.
The #terraclassic community is at it again today🚀
— LunarCrush (@LunarCrush) September 26, 2022
Let's take a look at today's social activity 🔥. $LUNC social mentions measured hourly hit 9.55K, the highest point in the last 90 days.
Social dominance +47.23%
Social engagements +86.33%
Insights: https://t.co/R01sSRHYOM pic.twitter.com/694VLZXkhK
While the explosive rise in LUNC quotes seems harmonious, following recent news about the project, such price perturbations - 50% or more per day - could turn into a dump. With a large number of unsophisticated investors eager to get into the project as soon as they see LUNC's current growth prices, those speculators who have been pushing the token's price since August could easily use them as exit liquidity.
Alex DovbnyaDo Kwon and Changpeng Zhao
Such an explosion of activity around LUNC on social networks is of course caused by recent events around this notorious project. Thus, exhibiting unusual volatility recently, LUNC quotations have risen and fallen at double-digit rates in recent weeks.
The latest was the one-day news of the issuance of a red notice from Interpol for the project's founder, Do Kwon, to be caught and arrested in almost 200 countries around the world.
Then, a couple of hours later, it was revealed that Binance, the global cryptocurrency exchange and holder of a trillion in LUNC liquidity, would introduce a long-awaited token-burning mechanism through trading commissions collected by the exchange.
Gamza Khanzadaev
Alex Dovbnya
Dan Burgin
U.Today Editorial Team
Vladislav Sopov