The crypto market is holding steady at its current levels, for the most part. Some once-popular tokens are now crashing hard, while major ones like bitcoin and ether struggle to break past their resistance levels. Meanwhile, controversial tokens like Terra and Terra Classic are tanking in the wake of several developments.
However, as always, there are some tokens that are proving to be mighty exceptions. The market does continue to hold gems that pique the interest of crypto investors across the world. These tokens, of course, only have that level of popularity because of their uniqueness and features.
Why are the Prices of LUNA Tokens Crashing So Hard?
LUNAC has crashed over the past month.
There have been a number of developments in the efforts by South Korean authorities to bring Terraform Labs co-founder Do Kwon and the company into questioning. The case has been high-profile and the incidents frequently make waves outside the crypto space.
For Terra, recent news has not been positive, which is why both the Terra (LUNA) and Terra Classic (LUNAC) tokens have been dropping as they have. There have been a series of such negative developments that may portend an even greater drop going forward.
First, there was the startling revelation that South Korean authorities would invalidate Kwon’s passport if he did not return it within 14 days. There is also a chance that he would not be allowed to reissue his passport – and this could potentially mean that he cannot travel. Following that news, both LUNA and LUNC fell by nearly 4%.
Another reason why the tokens have dropped is because of reports that South Korean officials froze funds from two exchanges that were allegedly used by the Luna Foundation Guard. Kwon said the news was fake, but it appears to be the case.
Finally, there is the fact that Interpol has issued a red notice, which asks law enforcement agencies across the world to arrest him. This was arguably the most significant development, though Kwon has denied being on the run.
Meanwhile, IMPT and TAMA Show Great Potential
It’s not all doom and gloom for the crypto market, with a few tokens being standout exceptions when it comes to price performance. Among these are IMPT (IMPT) and Tamadoge (TAMA), both of which have made strong waves in the market for their presale performance. They show that new projects still have a lot of promise, even if the market is in a bit of a rut at the moment.
The IMPT token has been causing a stir because of its focus on encouraging eco-friendly behavior. Climate change and carbon emissions continue to be major topics in global discussions and the crypto market has been criticized for its impact on the environment – at least Proof-of-Work systems.
But IMPT is leading the charge in a new era of eco-friendly crypto projects. The platform is establishing an ecosystem where brands, businesses, and individuals come together to reduce their carbon footprints. The design is such that they can all interact with each other in natural ways and receive carbon credits for these interactions. Some of the features of IMPT include a shopping platform, a social platform that tracks scores, and the ability to support environmental projects.
IMPT is currently hosting its presale, with each IMPT token priced at $0.018. The presale will end when all 600 million tokens are sold or on Dec. 1.
Another token that is causing a major stir is Tamadoge (TAMA), which is a meme coin with a bevy of features. The TAMA token has jumped by nearly 300% in just a week. The reason it’s made such a mark is that it has meme coin appeal combined with several P2E features, including a battle system.
Both of these tokens have the potential to go even higher, predicated on the suite of features that they have. IMPT is driving a good cause and is attracting investors for that reason, while Tamadoge marries the fun of a meme coin with a metaverse and P2E services.
Despite the general drop in prices, some tokens in the crypto market are showing that there is still a lot of growth potential for tokens if they have the right features. IMPT and TAMA are prime examples of these and are drawing in many investors.
Image by Csaba Nagy from Pixabay
