Following the LUNA cryptocurrency disaster, some coins increased in price abnormally

Recently, the market has appeared many digital money projects “following” the LUNA digital currency disaster. In particular, these memecoins had large price fluctuations after being listed on the decentralized exchange.

As described, F**kLuna was released to oppose the project’s development team and the entire Terra ecosystem. “We could have ‘smoothed’ with the market. Until he encountered Do Kwon, everything became messy. LUNA has to pay the savings back to us”, the F**kLuna project team mentioned on the homepage.

F**kLuna was listed on the PancakeSwap exchange on May 14.

Currently, the official Twitter of this project has about 2,677 followers. Groups on Telegram attract more than 4,000 members.

Compared with the criteria to evaluate a cryptocurrency project, F**kLuna has many unusual signs. First, the development team is completely anonymous. According to reviews from ScamAdviser, the website of this project only reached the mark of 40/100 points. The data shows who is behind the page f**kluna.io anonymously hidden.

Besides, F**kLuna is being listed on the PancakeSwapV2 platform, an exchange where anyone can list tokens. At the same time, tokens on decentralized exchanges often have large price fluctuations, which are easy to manipulate.

According to information from PooCoin, the price of F**kLuna coin increased more than 11 times after being listed on the decentralized exchange. However, the price of this digital currency also quickly dropped 8 times after a large sell-off and no buying force.

In addition to F**kLuna, the cryptocurrency market also has a project called BabyLuna. Currently, this project only has a smart contract code (smart contract) and has been listed on the exchange.

Related information channels such as Twitter, Telegram, website or BabyLuna development team are still a mystery. On the criteria for evaluating cryptocurrency projects, this is considered a huge minus point when everything is still unclear.

BabyLuna coin price fluctuated strongly when it was just listed on the decentralized exchange.

After being listed on the decentralized exchange, the price of Baby Luna coin has grown by more than 300%, from 0.000000031 USD/dong up 0.00000012 USD/dong late on April 15.

After the price crash of LUNA, Do Kwon, Co-Founder and CEO of TerraForm Lab, proposed to “revive the Terra ecosystem”. The crux of this initiative is to rebuild the new system with a limited supply of 1 billion LUNA. This means that the whole project will be brought back to the time before the crash, minus the amount of capitalization that has evaporated.

Of which 40%, or 400 million tokens, will be divided among LUNA holders prior to the UST de-peg event (losing the landmark). 1 USD). Do Kwon said the data to determine is taken from the last time the UST was valued 1 USD on the Binance exchange.

400 million LUNA will be divided among UST stablecoin holders up to the time of network reset. This can stimulate buying for UST in the near future, as this group is divided by a large amount of cryptocurrencies.

In addition, 100 million tokens will be allocated to LUNA holders up to the time of network closure. The remaining 10% of tokens are used for future community development.