While major cryptocurrencies, including Bitcoin and Ethereum, have been pumping throughout October 2022, Terra Classic (LUNC) has been one of the few altcoins trading sideways.
After analyzing three key reasons for LUNC’s lack of momentum, we will evaluate three top altcoin alternatives – Dash 2 Trade (D2T), IMPT (IMPT), and Calvaria (RIA).
Why is LUNC Not Pumping?
Terra Classic (LUNC) is the 36th largest cryptocurrency, with a market cap of over $1.6 billion. After a bull run earlier in the year, Terra Classic is one of the few major cryptos to have not pumped in October 2022.
In October 2022, LUNC dropped from $0.00029 to $0.000244 – a 15.8% price correction. The sections below discuss 3 reasons why this popular token is not rallying in Q4 2022.
Market Sentiment Following the LUNA Crash
The current Terra Classic crypto token was renamed in 2022 from Terra. Before LUNC, the Terra blockchain’s native cryptocurrency was LUNA, which was developed to support the algorithmic stablecoin TerraUSD (UST).
In May 2022, the TerraUSD stablecoin witnessed over $2 billion worth of UST unstaked – which led to a rapid liquidation of the token. Since the UST stablecoin was supposed to be equivalent to the dollar, the liquidation led to the instant de-pegging of the token against the dollar. The LUNA token instantly tanked – dropping from over $100 to less than a fraction of a penny.
While the new LUNC token has replaced the previous cryptocurrency, there is still uncertainty over the Terra blockchain.
High Tax on the Network
The Terra blockchain has implemented a new 1.2% tax on transactions – to make the token a deflationary asset. However, most centralized exchanges are unlikely to implement this change on their networks.
Top exchanges such as Crypto.com and OKX support an on-chain transactions tax burn rate of 0.2% – but not any higher. Since most of the token’s transactions take place on centralized exchanges, implementing this burn rate would not impact the platform in the long term.
Bearish Price Predictions
According to TradingView, the Terra Classic price prediction is bearish in the short term. The 1-day moving averages for LUNC are in a ‘Sell’ zone.
Terra Classic has been unable to gather any momentum in the previous few weeks. On the LUNC price chart, the token has been correcting since its bull run that ended in the first week of September 2022.
Investors may now be looking into LUNC alternatives for Q4 2022 and beyond.
3 Alternatives to Terra Classic
The sections below discuss 3 of the top alternatives to Terra Classic.
1. Dash 2 Trade (D2T)
One of the best new cryptocurrency alternatives to LUNC is D2T – the native cryptocurrency of the Dash 2 Trade cryptocurrency trading signals platform.
Token holders can leverage D2T to gain exclusive access to all the trading charts, signals and features of the platform’s dashboard. With D2T, investors can access risk profilers, live token listing alerts and social sentiments based on on-chain analysis.
The Dash 2 Trade whitepaper states that the platform will also implement auto-trading features, backtesting platforms and presale project scoring systems to help advanced and beginner traders.
D2T token holders can stand a chance to earn free tokens by competing in community-wide weekly trading competitions. To access all the exclusive features, users can purchase Dash 2 Trade’s Premium tier – which charges a monthly fee of 1,000 D2T per month.
This crypto project is allocating 700 million tokens to the presale, via nine rounds.
Currently, D2T is available to buy on the second presale round for just $0.05 per token. Thus, the Premium package will cost $50. However, the token’s price will increase to $0.0662 by the last presale round – a 32.4% price increase.
D2T has raised over $3.5 million – and will look to collect over $40 million by the end of the presale. Join the Dash 2 Trade Telegram Channel to stay updated with the project.
2. IMPT
The next best alternative to LUNC may be IMPT – an ERC-20 token that aims to offset carbon emissions from the environment.
Also on presale now, the IMPT token will be able to be leveraged on the platform to purchase Carbon credit NFTs – permits representing 1 ton of CO2 emissions to be removed from the atmosphere.
IMPT.io will allow users to receive tokens on its shopping platform – which will offer IMPT as cashback. After partnering with multiple businesses, IMPT’s shopping platform will offer a percentage of the brand’s sales margin as IMPT tokens.
These tokens can be redeemed to purchase Carbon credit NFTs – which can be traded or burnt on the blockchain. Burning the Credits will effectively eradicate the emissions from the atmosphere. Investors can receive free NFTs by burning Carbon Credits and trading them on secondary markets.
The IMPT whitepaper has also listed plans for a social platform – which will rank an individual’s contribution to reducing their carbon footprint. Currently, IMPT is available on presale for $0.023 per token during its second stage.
Since the start of the presale, IMPT has raised over $11.6 million – making it one of the best crypto presales this year in terms of the amount of seed round funding.
Follow the IMPT Telegram Channel to learn more about the IMPT presale and the project updates.
3. Calvaria
Calvaria is a new play-to-earn (P2E) cryptocurrency platform which integrates playable NFTs in its ecosystem. Users can purchase Battle Cards – NFTs which can be collected and upgraded to compete in several game modes on the Calvaria platform.
The platform settles transactions and distributes rewards with $RIA – the native cryptocurrency. After tokens are spent on the platform – 10% are sent to staking pools, while the remaining are allotted to the Calvaria prize pools.
However, platform members can buy the Battle Cards and in-game accessories with eRIA – which is the in-game currency. By staking $RIA – one can access eRIA tokens and join the community’s DAO (decentralized autonomous organization).
The Calvaria presale has ten stages. On stage 3 of the presale, RIA can be purchased at $0.02 per token. Investors can buy RIA with USDT, at a ratio of 1 USDT = 50 RIA with a minimum purchase of 10 USDT.
Since the presale began on 10th October 2022, Calvaria has raised close to $1 million.
To learn more about this promising crypto game, read the Calvaria whitepaper and join a community of more than 28,000 members by following Calvaria’s Telegram Channel.
