Terra price is currently witnessing the most horrible nightmare in its history. After struggling hard for nearly a year to achieve a 3-digit figure by surging more than 2000%, the price fell by more than 10x from its highs. Moreover, it lost nearly 12K% since May 5 alone which slashed the price from $88 to as low as $0.7.
At present no possibility of recovery or pausing the ongoing downtrend is witnessed as the price has broken all the crucial support. After hitting 10-month low levels, LUNA’s price may still discover new lows as selling volume mounts heavily and the possibilities of adding up another zero also emerges. However, the asset could consolidate for an extended period but a v-shape recovery may be off-the-track for a prolonged time.
Tron price is marking significant strength in the recent times by recovering losses quickly and steadily. Currently, after dropping from its highs, the price was undergoing a parabolic recovery but the current market movements hindered the rally. However, the asset is consolidating very hard and attempting a steep recovery at the earliest.
Presently, the TRX price still maintains its uptrend line that it is following since the beginning of May’s trade. And hence a significant upswing may be expected in the upcoming days. The price may quash the bearish pressure to regain value at $0.09 initially and with an extended upswing may also eliminate the zero in its price very soon.
Additional Read: 8 cryptos with low transaction fees
Check out the Latest Prices, Charts, and Data of LUNA/USDT.
Check out the Latest Prices, Charts, and Data of TRX/USDT.
|Comparison Basis||Terra (LUNA)||Tron (TRX)|
|Founders||Daniel Shin and Do Kwon||Justin Sun|
|Blockchain protocol||Terra network||TRON Protocol|
|Use case||It’s a fiat pegged stable coin and acts as a governance token for the LUNA coin holders.||It helps in receiving airdrops, receiving credit card payments, and purchasing items from WeChat stores.|
|Circulation Supply**||530,700,731.01 LUNA||98,188,384,004 TRX|
|Consensus method||Delegated Proof-of-stake (DPoS)||Delegated Proof-of-stake (DPoS)|
MarketCap* and Circulation Supply** as of May 2022
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