Cardona vs LUNA: Both are classic crypto assets with potential in terms of blockchain development
The battle for cryptocurrency supremacy is nothing new. One of those rivalries between Cardano vs Luna Classic has been going on for a long time. Time Cardano vs Luna Classic is a notable cryptocurrency battle in today's market, these cryptocurrencies use different mechanisms. Time Cardano Designed for general use, Luna Classic (LUNC) has been one of the top-earning cryptocurrencies as of early Q2 2022. Cardano It is mainly focused on driving a strong ecosystem of decentralized applications or dApps. The question is, between Cardano vs Luna Classic, which cryptocurrency will hit $3 first in 2023?
So, let's see which crypto will hit $3 first in 2023:
Both crypto assets show potential in terms of blockchain development. Therefore, it is up to the traders and investors what to choose as the best cryptocurrency to buy before 2023. However, it is recommended to study the cryptocurrency first before investing in it to avoid losses that cannot be recovered.
Cardano bottom-up development activity
Cardano (ADA) has attracted a wide spectrum of investors due to its substantial gains in the market, as well as its energy-efficient mechanism, which is considered much greener than Bitcoin. The Cardano price is expected to increase in 2023 due to a number of factors. Cardano is projected to enter the institutional adoption circle in the near future. Cardano is now one of the top cryptocurrencies to buy on the market.
Cardano's primary use case is to enable transactions in its native cryptocurrency, ADA, and to allow developers to build secure decentralized apps with its technology. However, Cardano sets itself apart from other blockchain projects by emphasizing a research-based approach to design, aiming for academic rigor that it believes will drive adoption of its technology.
While Cardano may not promise any groundbreaking new features, users and developers may find that their cryptocurrency offers compelling optimizations based on scientific research and formal verification, a process by which your code is verified mathematically. On Dec. 8, CardanoDaily tweeted that more people were contributing to the platform's GitHub. Cardano was on top and had outperformed many other coins. Cardano's DEX activity would be another performance metric.
Cardano's RSI, MACD, and 50-day moving averages indicate a selling trend. On a daily basis, the ADA/USD pair is forming Doji and Spinning top candles, indicating a neutral bias; perhaps investors are waiting for a solid reason to trigger a breakout. Cardano has the potential to hit $3 by the end of 2023 in the long term. There are also several altcoins with huge upside potential!
Terra Luna might be down, but Luna Classic isn't out
The zombie Luna Classic token shocked the cryptocurrency market when it surged more than 500% in September, reaching a price of $0.00035 and making some adventurous traders rich. More of the same and it's not hard to imagine Luna Classic entering the top 20 cryptocurrencies by market cap once again.
The bullish case for a $3 Luna Classic is out of the window for 2023. The Burning Luna Classic will slash the market cap figures you saw above.
Let's say the community can burn 15% of all Luna Classic tokens, that then reduces the implicit market required to get to 1 cent per $10 billion. Such a successful consumption rate would not be enough to attract a large investment to Luna Classic.
Unfortunately, Luna Classic is way off track today. After the consumption rate was reduced in October from 1.2% to 0.2% of each on-chain (and Binance) transaction, the monthly consumption rate fell from 18.8 billion LUNC to 9.2 billion LUNC. It would take at least 10 years to burn off 15% of LUNC's supply all things being equal.
