The crypto market appears to be ending this week on a bear run. As of this writing, the market has turned red and most cryptocurrencies have fallen, with Terra (LUNA) and LUNA Classic (LUC) being among the coins showing a decline today.
Terra (LUNA) was already down 1.5% in the past 24 hours, while LUNA Classic (LUNC) is down 2.5%. This drop is greater than the average drop in global market capitalization. These coins fell at a time when Bitgert (BREISE) and Centcex (CENX) were rallying.
Over the past few months, Bitgert and Centcex have become one of the biggest rivals for the Terra (LUNA) and the LUNA Classic (LUNC). These are the coins that most Terra and LUNA Classic investors have joined over the past few months.
Why Terra and LUNA Classic (LUNC) are collapsing
There have been many developments around the Terra (LUNA) and LUNA Classic (LUNC) projects over the past few weeks, but little has been done to regain investor confidence. This is one of the biggest challenges these crypto projects face, and the number of new investors has been very low.
In fact, Terra (LUNA) and LUNA Classic (LUNC) investors have been dumping a lot over the past few months due to a lack of confidence in the coin. With no major game-changing developments following these crypto projects, then we see their appeal slowly waning.
Terra (LUNA) and LUNA Classic (LUNC) association with Do Kwon is also another factor behind their poor performance in the market. Do Kwon is still being investigated for criminal charges. This is why reports about it have negatively affected Terra (LUNA) and LUNA Classic (LUNC) prices. These are just some of the reasons why Terra (LUNA) and LUNA Classic (LUNC) fell.
Why Bitgert (BREEZ) and Centcex (CENX) Prices Are Rising
There are two things driving the prices of Bitgert (BREISE) and Centcex (CENX) higher: hype and disruptive developments. The Bitgert and Centcex team released groundbreaking products, and their adoption was the reason why these coins are doing so well in the market today.
The hype surrounding the Bitgert (BRISE) and Centcex (CENX) projects has made them one of the trendiest crypto assets in the market. This is attracting many investors, who have kept the market cap of these coins growing as Terra (LUNA) and LUNA Classic (LUNC) fall.
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