cryptonews.com
Terra LUNA is the biggest crypto loser today, down 27% today. In other altcoin news, ERC-20 token Tamadoge (TAMA) has raised $15 million in its presale.
Bitcoin is steadily climbing, with a 3% rally to the upside in the past 24 hours, hitting an intraday high of $22,500 and many altcoins are following - notably Solana is up 7% within the top 10 crypto gainers on Binance.
Hedera Hashgraph (HBAR) is putting on an even stronger performance, up 13% and breaking into the 5 biggest crypto gainers on Binance since news of its upcoming Coinbase listing broke today.
The two Terra crypto assets are red on the day however and appear to be retracing their recent bull runs. Terra Classic (LUNC) is also crashing today - down 20% and the second highest loser after LUNA.
Top Crypto Trader Sells LUNC
Altcoin Sherpa tweeted out to his 183k followers yesterday that he opened a short position on LUNC, timing the top well.
Sell LUNA, Buy TAMA?
Retail investors tend to buy the top of bull cycles by FOMO'ing into green candles - by the time Terra (LUNA) and Terra Classic (LUNC) had made mainstream headlines for their explosive run ups in the past weeks, the top was in.
A potentially better way to invest in cryptocurrency is to research new crypto projects at their presale or initial coin offering (ICO) stage, yet to begin trading on crypto exchanges and pump to a high valuation in the billions of dollars.
Tamadoge (TAMA) is the native token of an upcoming play to earn crypto game, adopting the aesthetic and mass appeal of dog themed meme coins but being deflationary with a low fixed supply - unlike e.g. Dogecoin which has an infinite supply and is inflationary - and having a use case.
In that way it addresses some of the issues that faced DOGE and Shiba Inu (SHIB) in that they had little utility or scarcity as reasons to hold them after they achieved fully diluted valuations (FDV) in the tens of billions in mid to late 2021.
At the time of writing the Tamadoge presale is on pace to sell out this month, with under $4 million remaining before its hard cap of $19 million is hit.