Terra Luna

Here's Why Terra Luna is the top trending cryptocurrency as traders bet on the price

Terra Luna is the most popular cryptocurrency on CoinMarketCap, with investors betting heavily on its price. LUNA 2.0 surged from $1.50 to $2.56 in less than a week. The revived cryptocurrency is up nearly 25% this week and is attracting investors due to its rapid price rise. Luna is the most popular cryptocurrency on CMC, followed by Pancake Swap (CAKE) and LUNC. LUNA and LUNC are at the top, suggesting that investors are betting on their prices. Despite falling to zero, LUNC is still attracting attention, with a weekly market volume of $1.1 billion this month. Despite the dramatic crash in May, the price of cryptocurrencies has yet to be written off.

Should You Buy LUNA & LUNC?

Going all-in on LUNA and LUNC is risky, given Terraform Labs' controversies, investigations, and lawsuits. If the authorities uncover new information about any wrongdoing, both the old and new crypto could plummet. Terraform Labs and its founder, Do Kwon, are being investigated in South Korea, Singapore, and the United States. The three countries are exchanging information about the ongoing investigations, and it's only a matter of time before everything is revealed.

Furthermore, the Ministry of Justice in South Korea has issued a "notice upon arrival" for Do Kwon and Shin Hyun-Seong. The walls appear to be closing in on LUNA and LUNC, which could spell disaster. It is advised to avoid both cryptos until the investigations are completed. Do Kwon has already been charged with several counts of fraud. Because government officials are involved, the risk factor is too high, and the investigations could go much deeper. At the time of publication, LUNA was trading at $2.12, down 2% on the day. LUNC, on the other hand, is currently trading at $0.00010118 and is up 1.8 percent.

The cryptocurrency market has been positive for three days in a row and has reclaimed the $1 trillion market cap. Market optimism is gradually returning, and altcoins are making decent gains following the recent meltdown. Surprisingly, CoinMarketCap data shows that Terra LUNA and LUNC are among the most trending cryptos respectively. Polygon Matic is second, having risen nearly 64% in the last seven trading days. The development demonstrates that investor interest in both assets has not waned and that they are willing to bet on its price.

Here's Why LUNA & LUNC Are Trending

LUNA and LUNC may not be trending for the right reasons. Investors want to know if LUNA and LUNC are still alive and well in the market, so they monitor their prices regularly. After TerraUST and LUNA dropped to $0 in May, the Terra ecosystem sparked a lot of interest. Its rebirth and rebranding piqued investors' interest, prompting them to keep an eye on its progress. Furthermore, new reports of alleged wrongdoing, as well as investigations pending against Terraform Labs and its founder Do Kwon, keep users informed about LUNA and LUNC.

As a result, the assets are currently attracting curiosity from the crypto community rather than attracting investment purposes. Both tokens are viewed negatively by investors who are considering investing their money in them.