Luna price continues to struggle as Terra falls 15% in a week

This is a sponsored post. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by the external author of the post. You should be aware of all the risks associated with trading. Cryptocurrency presales can be very risky investments as the assets have yet to be proven in the market. Some or all the tokens mentioned in the articles may be devalued or subject to scams, and investors may lose all capital as most of these assets lack proper due diligence. FXStreet is not responsible for any losses incurred from investments in crypto presales.

It’s been a tough week for Terra (LUNA) investors, with the token’s value dropping 15% in the past seven days.

Having posted three bearish closes in a row and looking likely to make it a fourth, many in the investment community are becoming concerned about the token's prospects of a rebound.

This article examines LUNA's recent price movements before highlighting three alternative penny cryptos that could offer promising returns for investors looking to diversify their portfolios.

LUNA’s bearish momentum leaves investors in the lurch

LUNA is trading for $0.439 after a period of sustained bearish momentum stretching back to September 27.

During that period, LUNA rejected the resistance zone at $0.590, which also capped price back in early August.

LUNA is now 97.7% below May 2022’s all-time high, and its current bearish outlook has led many traders to reconsider their positions in the token.

Daily trading volume is also down 35%, meaning LUNA is now just the 83rd most-traded cryptocurrency globally.

Notably, no clear catalysts exist for LUNA's recent decline, meaning that the drop appears to be more sentiment-driven than based on any specific news events.

This lack of a clear catalyst makes predicting LUNA’s future movements even more challenging for investors.

Ultimately, with the Crypto Fear & Greed Index now at just 48, the market may not be in a position to provide the positive momentum needed for LUNA to rebound in the short term.

Three penny crypto alternatives to LUNA

Given LUNA’s continued struggles, let’s take a look at three new cryptocurrencies that look to have more positive futures.

Bitcoin Minetrix offers innovative stake-to-mine feature & raises $520k

While the uncertain outlook for LUNA may have investors reconsidering their positions, there are alternative investment opportunities that promise upside potential.

One such prospect is Bitcoin Minetrix (BTCMTX), an Ethereum-based platform gaining significant attention in its presale phase.

Bitcoin Minetrix offers a novel “Stake-to-Earn” feature, enabling users to engage in Bitcoin mining without needing expensive hardware or technical expertise.

Not only that, but Bitcoin Minetrix also allows users to stake BTCMTX to earn tokenized rewards – with yields of 1,237% per year on offer.

The project has already seen over 33.6 million tokens staked, indicating strong early adoption and community support.

Making this even more impressive is that Bitcoin Minetrix is still in its presale phase, with BTCMTX tokens priced at just $0.011.

This presale has raised over $520,000 in just two weeks, with the developers planning to launch BTCMTX on multiple exchanges once it concludes.

Although Bitcoin Minetrix is not yet publicly traded, the buzz surrounding its innovative features is clear, evidenced by the rapid growth of the official X (formerly Twitter) account.

For those disheartened by LUNA’s recent performance, Bitcoin Minetrix could be a penny crypto with better upside potential.

Visit Bitcoin Minetrix Presale

Meme Kombat targets Gaming & Gambling with unique Meme-powered platform

Meme Kombat (MK) is another penny crypto attracting attention, targeting the gaming, meme coins, and gambling sectors.

With over $310,000 raised during its presale in just two weeks, Meme Kombat has already made its mark on the crypto community.

Meme Kombat's flagship feature is its meme-battling platform, where popular meme characters duke it out in battles that users wager on.

The outcome of these battles is determined on-chain, meaning those who bet can rely on transparency and security to ensure fair results.

On top of this battling feature, Meme Kombat also boasts a high-yield staking mechanism, with stakers earning 112% APY by pledging MK tokens.

MK tokens are currently priced at $1.667 – a low price that has already attracted investment from meme coin enthusiasts around the globe.

Once the presale ends, Meme Kombat's team plans to launch MK on decentralized exchanges (DEXs) like Uniswap, with 10% of the token supply reserved to provide liquidity.

Given these aspects, MK could serve as an appealing alternative to LUNA for those seeking utility-driven coins with high price potential.

Visit Meme Kombat Presale

Launchpad XYZ provides comprehensive tools for crypto traders & offers limited-time presale bonus

Lastly, Launchpad XYZ (LPX) is an emerging penny cryptocurrency that seeks to redefine how people engage with Web3 assets.

Launchpad XYZ does this through a comprehensive platform focusing on crypto trading, education, and analysis.

The project has already raised over $1.8 million during its presale, with LPX tokens on offer for $0.0445 each.

Notably, those who invest through the presale will receive a whopping 14% bonus on their purchase – although this offer will only last for another six days before the bonus size decreases.

Launchpad XYZ’s main selling point is its AI-driven analysis tools, which aim to accommodate a wide range of investor needs.

Users can purchase NFT access cards using LPX, Launchpad XYZ’s native token, to unlock VIP trading channels, receive trade insights, and even get whitelisted for exclusive crypto presales.

As outlined in Launchpad XYZ’s whitepaper, the platform will also feature the "Launchpad Quotient," which is an innovative ranking system based on over 400 data points that evaluates assets in a simple way.

With the pledge to help users “discover the next 10x trades”, Launchpad XYZ positions itself as an exciting platform for crypto insights – and could be another penny crypto to keep an eye on while LUNA falters.

Visit Launchpad XYZ Presale

Share: Cryptos feed

ETF News provides quality insights in the form of financial guides and video tutorials on buying and investing in stocks. We compare the top providers and provide detailed insight into their product offerings. We do not advise or recommend any provider but want to enable our readers to make informed decisions and trade on their own responsibility. Contracts for Difference (“CFDs”) are leveraged products and carry a significant risk of loss for your capital. Up to 67 % of retail investor accounts lose money trading with the brokers compared on this website. Please make sure you fully understand the risks and seek independent advice. By continuing to use this website, you agree to our Privacy Policy.