Is It a Good Idea to Invest in LUN?

Date:

Crypto projects sometimes turn out to be quite innovative and Lunyr is one of these examples, which is currently looking to disrupt the world of wikis. The project also comes with its native token that you can buy right now.

However, can Lunyr investments bring due returns?

Let’s explore today’s price analysis.

What is Lunyr?

Lunyr is a decentralized knowledge base that uses the Ethereum blockchain; It will be like wikis you find on the web, but without any intermediary – It is decentralized, which means the platform works automatically using blockchain technology.

The company rewards users with tokens to verify and add information. It aims to create an online encyclopedia that developers can connect with an API. An API is a technique to connect an app with another service, like a payment gateway.

Therefore, the platform will help in the creation of unique apps in the future as it will be able to power many decentralized apps based on artificial intelligencevirtual reality, and augmented reality.

Additionally, Lunyr aims to make information more accurate; it also wants to eliminate unnecessary censorship and give more freedom to the people. Most importantly, Lunyr wants its platform to be a source of reliable information on the internet.

What is the LUN Token?

LUN is the governing token of the Lunyr platform. The company created 11,000,000 LUN tokens and issued a part of it for crowd sale. Additionally, it reserved specific amounts of tokens for different purposes like marketing and paying advisors.

However, you can only buy LUN from a select few exchanges as it’s not available on all crypt trading platforms.

LUN Price Analysis

LUN holds a rank of 2,310 in the cryptocurrency world; currently, the token is trading at $0.188 and declined 18.2% in value in the past 24 hours.

The performance of LUN is not very encouraging in present times. In the past week, the token came down in price by 16.8% and in addition to this, the token recorded negative growth of 7.3% in the past 14 days.

Moreover, the value of LUN also declined in the past month, it posted a dip of 20.6% in value in the past 30 days.

The downturn of LUN’s value started at the beginning of 2019; the price hovered under the $1 mark for a long time, well into 2021 and its all-time high of $60.98 was also back in 2018.

However, LUN recorded a growth of 35.4% in the past year.

Experts don’t expect the price of LUN tokens to go above $1 in the future and according to sources, the price coulc reach around $0.26 in 2022.

As a result, LUN could grow a little in value in the future, but it may not be enough to make most crypto investors happy.

Final Thoughts

Lunyr is a new way to host data permanently; the LUN tokens got an initial push and grew considerably in value. Unfortunately, the prices of LUN fell in the following days, and the negative growth is still visible, and as a result, investors should study the market carefully before investing – it is also advisable to get familiar with the risks of investing in cryptocurrency.

JOIN OUR NEWSLETTER

spot_imgspot_img

Popular

Disclaimer: The views expressed in The Coin Times are solely those of the authors cited. It does not constitute The Coin Times recommendation to buy, sell, or hold any investment. Before making any financial decisions, it is recommended that you undertake your own research. Use the information supplied at your own risk. For additional information, please see the Disclaimer.

More like this
Related

How Do You Know When The Next Alt-Season Is Coming?

Markets operate in a variety of ways. A single...

Crypto.com Named Official Partner Of Miami Grand Prix

Organizers of the Miami Grand Prix have signed a...

Crypto Mortgages and the Housing Industry

How Crypto-Currency Impacts Mortgage Industry Cryptocurrency is the new form...

An Overview of Initial Coin Offerings (ICOs)

When a company needs to raise funds, it will...