Crypto Market Update: 3 Cryptocurrencies to Approach with Caution

While the cryptocurrency industry offers lucrative opportunities, not all cryptocurrencies are ideal for trading at all times. To assist traders and investors in making informed decisions, indicators such as price action, recent developments, and crypto rating platforms have been utilized to identify cryptocurrencies that may be wise to avoid in the near future.

Timeline of Apecoin-ape, Kucoin-token, Terra-luna

LUNC News: Terra Luna Classic core developer teams set things straight to move forward with Terra Classic ecosystem revival. The Joint L1 Task Force and RedlinerDrifter-led Quant developer teams have decided to proceed with TerraClassicUSD (USTC) repeg to revive USTC to $1, which will indirectly help boost LUNC price to the community's target of $1.

APE Coin (APE) price declined 4% on Thursday despite the recent growth in the global altcoin markets. Investors are diverting attention from NFTs and affiliated tokens amid the resurgence of the crypto market.

Although the cryptocurrency industry offers plenty of opportunities for crypto traders and investors, the conditions are not always best for trading all of them, and there are some cryptocurrencies that might be a good idea to abstain from, at least in the nearest future.

Terra Luna Classic core developer Joint L1 Task Force (L1TF) submits a proposal to create a community-owned wallet, which will be managed by the Terra Luna Classic community through governance. The developer group suggests establishing an L2 team to manage the community-owned wallet, working closely with the L1TF.

ApeCoin (APE) has experienced a notable slump throughout the second quarter of this year. As the digital currency landscape continues to evolve, investors and enthusiasts have been closely monitoring the token's performance, eagerly awaiting signs of a potential turnaround.

Terra Classic Price Analysis: Amid the increasing uncertainty in the crypto market, the LUNC price continues to coil and trades in a narrow range. The daily candle has showcased price rejection on both sides indicating the indecisiveness among market participants.

Terra Luna Classic core developer Joint L1 Task Force (L1TF) finally decided to work on the USTC repeg to revive TerraClassicUSD (USTC) price to $1. As revealed earlier by the developer group, the L1TF team will work with the RedlineDrifter-led USTC repeg team after the v2.1.1 parity upgrade to bring attention to USTC stablecoin.

Over the past week, the price of LUNC has remained strictly within the range levels of $0.0000826 and $0.0000102. During this consolidation phase, the daily chart has shown long price rejections at both of these levels, indicating uncertainty among market participants.

The Joint L1 Task Force (L1TF), comprising Terra Classic (LUNC) Core developers, successfully executed the highly anticipated Parity Upgrade on June 14, 2023. This pivotal event materialized thanks to the endorsement of Proposal 11561 by the Terra Classic Community, thus clearing the path for the seamless implementation of this critical update.

ApeCoin, the buzzing cryptocurrency governed by ApeCoin DAO, is sailing in tumultuous waters with a 28% drop in value over the last week. The unsettling salary revelations of the DAO's leadership have stirred up a storm within the community.