Gate News Bot Update, February 24 — According to CoinMarketCap data, at press time, LUNA (Terra) is trading at $0.06, up 6.08% in the past 24 hours, reaching a high of $0.07 and a low of $0.06. The 24-hour trading volume is $19.6 million. The current market cap is approximately $45.4 million, an increase of $2.6 million from yesterday.
Recent Important News on LUNA:
1️⃣ Token Supply Increase Draws Market Attention
LUNA’s token supply has reached 2.5 billion tokens, nearly doubling from the previous 2.4 billion. Major changes in the token supply structure directly impact scarcity expectations and are a key factor behind current price fluctuations. Investors should closely monitor future supply trends, especially significant increases that could lead to dilution effects.
2️⃣ Ecosystem Recovery Boosts Market Confidence
After experiencing a major crisis, the LUNA ecosystem is undergoing rebuilding and recovery. There are some expectations for improved project fundamentals, with certain participants optimistic about its long-term potential. This ecosystem restoration process is a fundamental driver supporting recent price performance.
3️⃣ Legal Disputes May Introduce Uncertainty
Terraform Labs is facing significant legal proceedings involving disputes with relevant authorities. The progress of these legal issues is highly uncertain and could have a chain reaction affecting project outlook and market expectations. Continuous attention to case developments is necessary.
Technical Outlook: The current price fluctuates between $0.06 and $0.07, with relatively moderate trading volume. The price remains far from its historical highs. Investors should remain cautious, paying attention to support and resistance levels.
This message is not investment advice. Please be aware of market volatility risks.
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