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The return of Terra Luna has turbo boosted all major cryptocurrencies today, May 31.
The renewed confidence has reminded many crypto investors that bear markets are not forever. And in fact, if you had bought Bitcoin when it crashed to $26,800 on May 12 by now you could be 18% up on your investment.
The key to thriving in a bear market is to choose cryptocurrencies with high potential to continue growing in price. This doesn't always mean buying cryptocurrencies that are currently in the green and is not confined to tokens in the top 20 cryptos by market cap.
EverGrow Coin was designed by investment professionals with the aim of simplifying crypto trading.
Ever since Benjamin Graham published The Intelligent Investor in 1949 it has been common knowledge that speculating – i.e. buying and selling assets according to market movements alone – does not necessarily lead to better returns.
EverGrow Coin comes with a 14% transaction tax which discourages rapid buying and selling while rewarding those who hold positions. The 14% transaction tax sees 8% immediately divided between investors in the BUSD stablecoin, with 3% set aside for liquidity, 2% for buyback & burn and 1% for marketing.
To date, EverGrow Coin has paid over $37 million in BUSD rewards to its current 137,000 investors. It has also burned nearly 53% of its supply.
In the pipeline for 2022 is a suite of applications all designed to capture more newcomers to the crypto market while rewarding investors and encouraging long-term investment planning.
Bitcoin has finally broken past $31,000 after hovering between $29,000-$30,000 since the Terra Luna collapse.
The successful airdrop of Luna tokens last weekend, and with the Binance crypto exchange listing Luna today, Bitcoin has seen a new rally. The current Bitcoin price is $31,600 up from $29,100 over the weekend.
Bitcoin is still down from around $40,000 which it held at the beginning of May. Back in March Bitcoin hit a recent high of $47,000.
Cryptocurrencies in general received a lot of bad press following the Terra Luna collapse. There were even a few headlines that spelled the 'end' of crypto as an industry. However, the renewed faith and recent Bitcoin pump show signs that the bear market could be coming to an end.
The Bitcoin price is still the lowest it has been for months making now a good time to buy Bitcoin.
The new Terra Luna crypto token is listed at 06:00 UTC today – May 31 – on the Binance exchange.
Terra Luna immediately pumped to $18 before falling down to $8.32. The cryptocurrency has a self-reported market cap of $1.7 billion which could place it in the crypto top 50 once accurate figures can be obtained.
The market cap is way below the $40 billion market cap enjoyed by Luna (now Luna Classic) before its collapse. With a current token supply of 210M Luna, if the token were to recover to these levels it would have a price of $190.
Of course, all cryptocurrencies are down on price and market cap since the collapse. The long-term success of Terra Luna will depend on the quality of dApps and projects still in migration and development.
Nevertheless, the huge purchase interest in Luna currently makes it one to watch out for and consider as a crypto buy.
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
