Our weekly crypto derivatives analytics report delves into macro events; the current state of crypto and trading signals from spot trading volume; and futures, options and perpetual contracts.

At the start of the week, Bitcoin showed signs of decoupling from US equities. However, US president Trump's positive remarks about the US-China trade war (which had included a 145% tariff on Chinese goods) triggered a relief rally across markets. As a result, BTC has resumed moving up with US equities. 

This rally has led to a rise in short-tenor implied volatility and a recovery in BTC’s put-call skew, indicating that traders are seeking upside exposure.

Please check out the report’s highlights.

Perp open interest rises across the board

Perpetual open interest increased significantly this week across various tokens, especially ETH. Perpetual trading volumes also rose. Notably, Ap 7, 2025 recorded the highest trade volume of the month, following Trump's comment, "Forget markets for a second, we have all the advantages."

BTC option open interest shows a mixed picture; put-call skew in short tenor sends positive signals

President Trump’s recent willingness to negotiate a trade deal with China’s President Xi triggered a relief rally across asset classes, including crypto. Bitcoin had already risen 7% since Apr 21, 2025, prior to Trump's comments. Despite this rally, open interest in puts has outpaced calls, with options volume remaining relatively balanced. 

It's unclear if the demand for puts reflects a hedge against downside risks, or a bet against the upward movement. Meanwhile, perpetual funding rates are providing limited insight into sentiment. However, the recovery of the put-call skew at short tenors indicates that traders are seeking upside exposure to the rally — and are willing to pay for it.

ETH unexpectedly outperforms BTC in this relief rally

ETH's response to the recent crypto market recovery has diverged from previous trends: it outperformed BTC in spot prices, a rarity in past rallies, and open interest in calls exceeds that in puts — opposite to BTC's trend. In addition, ETH call open interest is nearly double that of puts, with calls dominating options volumes. This suggests traders anticipate ETH will reduce its significant underperformance against both BTC and other “ETH killers” like SUI and SOL. Additionally, the spot rally has led to another term structure inversion for ETH.

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Bybit X Block Scholes crypto derivatives analytics report (Apr 24, 2025): Put-call skew recovers at short tenors, showing reviving sentiment

Explore all the hottest Bybit events happening during the week of TOKEN2049 Dubai in this article.

It’s that time of year again — TOKEN2049 Dubai is back, and the city is buzzing with excitement. As one of the most anticipated events on the crypto calendar, it’s not just about the main conference; it’s about everything happening around it, too. From side events and workshops to exclusive mixers and demo days, Bybit is showing up in full force this year. Here's your inside look at what to expect during this action-packed week.

The heart of TOKEN2049 Week, TOKEN2049 Dubai promises two full days of future-facing discussions and innovation in the world of crypto. At the center of it all is Bybit’s immersive booth experience, built on the theme 

. It’s not just a theme — it’s a vibe. Picture claw machines, 

If you’re heading to TOKEN2049 Dubai, be sure to drop by the Bybit booth (located at P33) and chat with our extraordinary Bybit team! And don’t miss your chance to grab a gacha token by scanning our QR code with Bybit Pay. You could walk away with exclusive Bybit merch! 

DMCC x VARA: Crypto regulations and business growth

Policy meets progress at this exclusive evening event co-hosted by DMCC and VARA. This gathering brings together regulators and industry leaders for an open discussion on the future of digital asset compliance and business growth in the region.

You can expect sharp insights, candid perspectives and forward-thinking dialogue about what it really takes to scale a crypto business in a regulated environment. If you care about the future of web3 in the UAE, this is one event to mark on your calendar.

Bybit After Hours: Exclusive Insights & Networking 

 is a private cocktail evening for top-tier traders and long-time supporters of Bybit. This event is equal parts networking, knowledge sharing and celebration.

 to strategic conversations with the Bybit team, this night is tailored to those who trade big and think bigger. With an invite-only guest list, it’s set to be one of the most exclusive experiences of the week.

The Crypto Hub x Bybit Crypto Ark Demo Day

 is all about bringing hands-on energy to the web3 scene. Hosted at the Crypto Ark inside Bybit’s office, this event welcomes founders, devs and crypto creatives for a casual evening of product showcases, idea exchange and light networking.

While Bybit provides the space, the real spotlight is on the community — those shaping the next wave of innovation in web3.

 from across the CIS region are gathering for a deep dive into the tools, tips and strategies that drive growth at Bybit. This meetup goes beyond surface-level sharing — expect actionable workshops covering our Bybit Affiliate program and affiliate best practices.

It’s also a chance to hear directly from Bybit product leads and regional managers, share success stories and walk away with fresh ideas to maximize conversions. 

Wunderbit x Bybit: “Hey, Trading Bot, where is my profit?”

 are here to stay — and this event is going deep into what makes them tick. Co-hosted by Wunderbit and Bybit, the evening workshop blends honest stories from real traders with expert insights on how to avoid common automation pitfalls.

From bot setups that work to the ones that quietly drain your profits, this is your chance to ask the tough questions, hear unfiltered answers — and maybe rethink how you’re running your own bot strategy.

 (RWAs) are taking center stage at the RWA Gulf Summit, a high-powered event co-hosted by Qatar National Bank, Commercial Bank International and DMZ Finance. This summit brings together bank leaders, wealth funds, participants in DIFC, institutional investors and industry pioneers to explore the evolution of tokenized finance in the Middle East and beyond.

Bybit’s Head of Financial Products Jerry Li will take the stage to discuss how 

 (CEXs) can harness RWAs for enhanced yield and 

Dubai's Pinnacle Mixer: Mantle, Mirana, Bybit and Ethena

High above the city, this mixer brings together some of the biggest names in web3 — Mantle, Mirana, Bybit and Ethena. Expect an unforgettable evening of casual chats, cross-chain connections and cocktails with the minds behind some of today’s most innovative projects.

This private event is all about experiencing Bybit Pay in action. See interactive demos, grab a sneak peek at upcoming partnerships and network over bites and drinks. It’s a rare behind-the-scenes look at the way Bybit is shaping the future of crypto payments. 

Wrapping up the week is the Bybit Institutional Symposium — a full-day event dedicated to aligning strategies with institutional clients and forging new collaborations. From macro views to product deep-dives, this conference is built to spark big conversations among serious players.

The day concludes with a gala dinner, a fitting finale to a week in which ideas, connections and innovation have taken center stage.

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Highlights: What to expect at Bybit (Apr 28–May 2, 2025)

Balance (EPT) is revolutionizing web3 gaming with evolving AI companions, blending blockchain, strategy, and intelligent gameplay in one powerful platform.

Artificial intelligence (AI) agents are a key growth area within the blockchain industry. Projects like Artificial Superintelligence Alliance (FET), 

 (AI16Z) and countless others have been essential components driving the overall crypto market. As of April 2025, the CoinGecko portal lists more than 500 cryptocurrencies within its category of AI Agents. These intelligent assistants are now helping individuals and businesses analyze markets, create textual and visual content, automate work processes and trade profitably.

There's a further area where AI agents on the blockchain are flourishing: the world of 

 gaming. In this sphere, bots and agents based on AI algorithms are helping users develop the best in-game strategies, succeed in the competitive world of play-to-earn (P2E) and overcome key challenges in complex gameplay.

Balance (EPT) is a blockchain gaming project that takes the use of 

 to a completely new level. The creation of the team at the world’s largest social gaming platform, E-Pal, Balance offers players AI agents that can aid them in the in-game environment and serve as their personal companions. Based on a multi-layer architecture, the platform offers some of the most cutting-edge use cases for gaming-oriented AI agents.

 (EPT) is a web3 gaming platform that allows players to easily create, own and use AI companions within the blockchain games it supports.

 Balance supports a variety of first-party (internally developed) and third-party web3 games. You can deploy your AI gaming companions and they’ll act as your assistants, friends or co-players within Balance games.

Using Balance.fun, the platform’s primary web interface, you can create your AI agents and specify various details, such as appearance, personality and functions.

Balance isn’t just another obscure crypto gaming platform. The origins of the project date back to 2020, when the E-Pal social gaming provider was launched by four young California-based technology entrepreneurs — Brian Xiong, Tung Pham, Yuzhe Norris Wang and Yuanzhe Li. E-Pal quickly became a leading force in the newly emerging social gaming field, helping players worldwide find gaming companions. By early 2024, E-Pal had become the world’s largest gaming companion platform, boasting 4.2 million users and 450,000 Epals (gaming companions).

In February 2024, the E-Pal team focused its efforts on 

 and AI technologies, starting the development work on the Balance gaming platform. In September of the same year, Balance went live.

Per the project’s documentation, the platform operates on its own chain, Balance Chain, with 

 (AA) technology used for cross-chain communication. The fungible and 

 (NFTs) held by user accounts are based on the 

A key part of the Balance ecosystem is Key Nodes — purchasable 

 that help with the processing, storage and distribution of data required in the resource-intensive environment of web3 gaming. Some applied instances are the management of real-time leaderboards and the automatic distribution of loot and in-game currency. These nodes can also support the computational requirements of training AI models. As a reward for their work in supporting the platform’s operations, Key Nodes receive a wide range of rewards and benefits, including distributions of EPT tokens, the platform’s native cryptocurrency.

As the ecosystem develops, Key Nodes are envisioned to be involved in governance, 

 launch in September 2024, Balance introduced its Points System, designed to reward early contributors to the platform. During the campaign run in September, users could earn points by completing various specified tasks in various activities, such as joining the project’s social media pages or commenting and reposting.

The 400 users with the best performance in the Points System earned a whitelist spot to receive Pioneer Badge NFTs — distinct tokens that provide owners with early access to games, future campaigns, airdrops and beta testing opportunities. Pioneer Badge NFT holders can also enjoy other benefits, such as premium NFTs and voting rights on the Balance platform.

Balance’s platform provides a set of tools to create and use intelligent companions for Balance-based games. You can design your AI companions by specifying their key traits and behaviors through custom prompts and strategies. The AI agents on Balance can assist you in battles, gaming contests, learning, routine task execution and interactive entertainment.

Balance’s platform is made up of five key layers, each one serving a specific purpose in supporting its user and developer communities. At the top of the architectural stack is the application layer, which acts as the main interface for users to interact with human and AI companions and the wider Balance community.

The application layer also contains the AI Battle Reporting System, which is designed to give users feedback and analysis tools on their performance in the platform’s gaming ecosystem. AI technology is leveraged here to provide personalized analytics and performance improvement recommendations.

A range of NFTs are also part of the layer. These include in-game asset NFTs, as well as 

 (SBTs) that serve as summaries of the holder’s achievements.

The platform layer hosts the various games within the Balance gaming universe. These include both internal games and third-party games that have partnered with Balance. The key concept uniting all of the games is the active integration of AI companions and AI players, making the platform a unique environment in which humans and AI agents play, interact and compete.

The platform layer also features an AI-driven NFT launchpad that offers a rich tool set for creating personalized NFTs for games and applications. These NFTs can be traded on Balance's NFT marketplace, which is also an integral part of the platform layer.

The protocol layer includes a trio of critical protocols — the Fans Protocol, Epal Fan Token (FT) Exchange Protocol and Asset Protocol. The Fans Protocol lets players launch and manage their Fan Tokens, creating opportunities for influencers and community builders to tokenize their efforts and launch high-potential crypto assets. Meanwhile, the Epal FT Exchange Protocol facilitates the management of (and trade in) Fan Tokens.

The third protocol, Asset, is used for the comprehensive management of a wide range of digital assets on Balance, providing easy-to-use tools for asset creation and trading.

The token layer is designed for core operations involving the platform’s native EPT token. This layer supports the use of EPT for in-game purchases, access to services and AI companions, Fan Token minting and trading, in addition to other functionalities.

This is the underlying infrastructural layer that powers the platform’s operational mechanism. It can be described as Balance's operating system, and is made up of several critical components: the node system, the Balance 

, the Balance Chain network and the platform's unique ID system.

The node system provides the computational and storage resources to power games and other functionality on Balance. In addition, the system acts as a key connecting medium between Balance Chain and the AA functionality that lets the platform enjoy cross-chain capabilities.

The Balance stablecoin, also part of the infra layer, is designed to reduce volatility and bring rate stability to the platform's gaming ecosystem. The Balance stablecoin system helps players engage in asset trading without the fear of wild market fluctuations, an important consideration in the 

Designed to support multiple chains, Balance Chain operates based on dynamic protocol adaptation, automatically selecting the optimal blockchain platform according to user preferences and needs. This dynamic adaptability is designed to reduce costs, improve operational speed and enhance overall security for users.

The final major component of the Balance infrastructure layer, the Balance ID system, is a unified and secure user authentication and identity management solution. To be introduced later in 2025, the ID system will let users access all services and games within the Balance ecosystem via a single set of cross-platform decentralized credentials. In addition to human players, also AI companions will have their unique IDs.

EPT is the native cryptocurrency of Balance. Although the platform has been operational since 2024, the EPT token was just launched on Apr 21, 2025, with a total and maximum supply of 10 billion. It was issued on two major blockchains — Ethereum and BNB Chain. EPT has a wide range of functional use cases on the platform, including the following:

The EPT token's supply allocation is per the chart below.

 as a swap pair with USDT, and through the exchange's 

 based on USDT. You can also take advantage of Bybit’s campaign dedicated to the token to grab a share of the 

Under the terms of the event, new users can earn EPT rewards by accumulating a deposit volume of at least 3,000 EPT, or by depositing at least 100 USDT and trading 100 USDT worth of EPT via their first spot trade with Bybit. Meanwhile, existing users can qualify for rewards by trading at least 500 USDT worth of EPT on Spot. The event is valid through May 5, 2025, 9AM UTC.

As of Apr 25, 2025, the EPT token has been on the market for only four days, and is trading at $0.0117, which is 26.4% lower than its ATH of $0.01708 on Apr 21, 2025, and 11.4% higher than its ATL of $0.01129 on Apr 22, 2025.

Long-term price forecasts for EPT are mostly bullish. DigitalCoinPrice 

 of $0.0412 in 2027 and $0.0615 in 2030, whilePricePrediction 

These and other emerging long-term forecasts for the token don't constitute investment advice. Given EPT's extremely short history on the market so far, 

 on the token's future prospects, carefully assess market fluctuations within the crypto gaming niche and consider all other relevant factors before investing in it or any other cryptocurrency.

Capturing emerging market trends and sensing the broader market conditions, the team at E-Pal recognized the tremendous potential of gaming companions back in 2020. Four years later, E-Pal realized that the new market dynamics in gaming called for something even more innovative — the use of AI companions, in addition to fellow humans. The resulting product, the Balance platform, is now racing to stake the claim to the best web3 gaming environment supported by AI agents.

The platform's unique features — cross-chain functionality supported by an AA mechanism, a dynamic exchange system that selects the best network for users' transactions and, most importantly, intelligent AI companions — can certainly help establish Balance as a leader in this niche of web3 gaming.

AI agents are taking the gaming industry by storm, with blockchain technology acting as a powerful enabler of these intelligent friends of ours. The Balance gaming universe — supported by the proven track record of E-Pal — has a great chance of becoming the go-to environment in which to befriend your next artificial gaming partner.

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Balance (EPT): Revolutionizing web3 gaming with evolving AI companions

Mantle has launched the Mantle Index Four (MI4), an institutional-grade fund providing diversified exposure to yield-bearing digital assets. 

The S&P 500 rose 2.03% on strong Alphabet earnings and optimism over a possible Fed rate cut. Gold jumped 1.5% to $3,338 as trade tensions rose and a weaker dollar, along with falling yields, boosted demand. Fed rate cut signals also supported the rally. The Coindesk Indices, which tracks the broader crypto market, rose 0.74%, with Bitcoin up 0.06% and Ether down 1.89%, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is INIT, up 15.4%, following the launch of Initia, which aims to revive the appchain concept with an interconnected network and an INIT token airdrop.

Initia (INIT), founded in 2022, is a modular blockchain platform that combines a Layer 1 network with customizable Layer 2 rollups, enabling scalable decentralized app development. It offers flexibility in virtual machines, gas tokens, and transaction systems, while ensuring interoperability and addressing issues like liquidity fragmentation and network congestion. Initia has 

 to revive the appchain concept by offering a network that integrates appchains in a cohesive, interconnected way. The platform emphasizes full-stack control for apps, avoiding fragmentation. Initia is also launching an airdrop with claims available until May 24, 2025. The native token, INIT, has a fixed supply of 1 billion, distributed across eight categories.

Check out the latest prices, charts, and data of 

, an institutional-grade fund providing diversified exposure to yield-bearing digital assets. In partnership with Securitize, which has tokenized over $3B in assets, the fund aims to fill a market gap by offering native yield generation in a traditional fund format. Mantle Treasury has committed up to $400M as the anchor investment. The fund will rebalance quarterly and incorporate DeFi-native staking strategies, such as mETH and bbSOL, while ensuring investor protections. MI4 targets both crypto-native and traditional investors, with Phase 1 rollout scheduled for Q2 2025.

Yesterday, BTC spot ETFs saw a total inflow of $114.7 million, all from non-GBTC funds, while GBTC recorded no flow.

Dolomite, the 10th largest DeFi lending app, is launching a 200M token 

 (20% of total supply) during its TGE on April 24, rewarding users based on platform usage. The DOLO token powers a three-token system alongside oDOLO and veDOLO, enabling incentives, governance, and potential revenue sharing. With over $800M in TVL, Dolomite expands to Berachain, integrating with its Proof of Liquidity system to offer advanced lending features and asset utility.

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Mantle launches MI4 fund for institutional-grade digital asset exposure and yield generation

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Puzzled about the recent hype behind the Terra ecosystem? Find out what are their differences as we highlight them in our LUNA vs. LUNC comparison.

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The market is still reeling from the spectacular collapse of the Terra ecosystem in May 2022. The trouble started when Terra's algorithmic stablecoin, UST, lost its peg to the dollar, sending its sister token, LUNA, into a hyperinflationary death spiral. Within a week, the two tokens, previously among the top 10 cryptocurrency tokens, had become almost worthless, wiping out over 

Do Kwon, the founder of Terraform Labs (developer of the Terra Blockchain), proposed a hard fork in an attempt to revive the project. The hard fork implementation resulted in a new chain with a native token called Luna (LUNA), and the original Terra blockchain's native token was renamed Luna Classic (LUNC).

With the market yet to recover from the debacle, Terra's back in the news again. This time, LUNC, the native token of the original Terra blockchain (Terra Classic), 

 in a month, launching it into the top 30 cryptos by market cap.

Is it the right time to return to Terra? First, let's analyze the recent price hikes of LUNA and LUNC and what they mean for investors.

 is a Cosmos-based blockchain payment platform built to support algorithmic stablecoins (crypto assets that automatically track the price of fiat currencies or other assets). The Terra blockchain attempts to leverage the combination of fiat currencies’ price stability and the censorship-resistance of decentralized networks to offer users instant and affordable exchanges, payments and settlements.

Terra, a Layer 1 blockchain, was powered by LUNA, its native token used for governance and staking, and 

, its main stablecoin. The two tokens had an innovative symbiotic relationship that involved a price-balancing model. Using smart contracts, Terra incentivizes users through an arbitrage model that seeks to keep the supply of UST in constant equilibrium with demand, thereby sustaining the 1:1 USD peg.

Terraform Labs, the startup behind the Terra ecosystem, was co-founded by Do Kwon and Daniel Shin in 2018. The Terraform team started developing the project the same year and officially launched the mainnet in April 2019. 

Do Kwon, who assumed the CEO role, had previously founded Anyfi, a blockchain startup that provides decentralized wireless communication network solutions. He was also a software engineer with Microsoft and Apple.

By 2021, the Terra network had rolled out various stablecoins pegged to different fiat currencies, including TerraUSD (UST), TerraCNY, TerraGBP, TerraJPY, TerraKRW, TerraEUR and TerraSDR (pegged to the International Monetary Fund's 

). Terra stablecoins facilitated cross-border payments and instant swaps at negligible fees.

This robust real-world utility made Terra a leading stablecoin payment system, and Terra UST quickly became the third largest stablecoin by market cap. The Terra ecosystem expanded in the DeFi space and included over 100 projects, notably Anchor Protocol, LoTerra, Chia, Vega Protocol, Mirror Protocol and Talis Protocol, which provide various solutions for millions of users globally.

On May 8, 2022, TerraUSD (UST) briefly lost its peg to the dollar, slipping from $1 to $0.985. Although it regained its peg, the event cast doubts over the project's sustainability. What followed next was a devastating erosion of value as investors rushed to liquidate their UST holdings.

To understand the Terra meltdown, we need a basic grasp of the underpinning mechanism of the LUNA-UST symbiotic relationship.

 wallet. This means that if UST drops below its $1 peg, say to $0.90, users can exchange it for $1 LUNA and then sell it for $1, making a profit of $0.10 on the transaction. The supply of UST will shrink, and demand for the token will rise as users leverage the arbitrage opportunity to make a quick buck. This buying pressure will force the price of UST back to its peg of $1.

The next day, May 9, UST lost its peg again, this time plummeting to $0.35. With the depegging of UST and the rising concern over the viability of the algorithmic stablecoin model, an organization known as the Luna Foundation Guard (LFG) managed to 

, to hedge against further slippage of UST against its dollar peg. Do Kwon and the Terra team had set up LFG in January to shore up UST's stability and support the growth of the Terra ecosystem.

However, these efforts were too little too late, and the devastating liquidations continued. Within days, UST's price dropped from $1 to $0.044. LUNA wasn't spared. As investors dumped UST, the mint-and-burn mechanism — which was supposed to stabilize UST’s peg — ensured the circulating supply of LUNA grew exponentially, causing its price to plummet from $80 to less than $0.10. 

The arbitrage mechanism failed, and swapping 1 UST for $1 LUNA became impossible as slippage — the quoted price vs. the actual exchange price — increased exponentially.

Within days of the Terra ecosystem's collapse, its contagion effect pulled down several top crypto companies linked to Terra in an intertwined web of loans. Leading crypto hedge fund Three Arrows Capital (3AC), Voyager Digital and Celsius Network were unwitting dominoes that filed for 

 and collapsed in the aftershock. Several DeFi protocols and stablecoins, such as USDX collateralized partially by UST, also went down. The shockwave traversed the cryptoverse, spooking investors and depressing an already bearish market. 

In the aftermath of the Terra fiasco, it was revealed that Do Kwon had dissolved Terraform Labs Korea shortly before the drastic turn of events. It was also alleged that he was involved in Basis Cash, another algorithmic stablecoin that failed shortly after launch.

In an attempt to salvage the situation, the embattled Do Kwon proposed the 

 His proposal to Terra's developer community involves creating a new blockchain through a 

 (a major split in a blockchain, typically to resolve differences arising within a community). The new chain's native token would be distributed among community members in proportion to their UST and LUNA holdings.

Most validators (network custodians who keep it running by validating transactions) voted in favor of the revival proposal.

Accordingly, the fork was implemented, and a new Terra blockchain (

) went live on May 28, 2022. Its native token inherited the LUNA name. The original blockchain, now referred to as Terra Classic, remained active, but with little visible development activity. Its token was renamed 

Finding it tough to tell them apart because they both have Terra in their names and are operating in parallel to each other? Don’t fret, our LUNA vs. LUNC comparison will easily clear up any confusion. While the two tokens share the same provenance, they’re different in a few fundamental ways.

Essentially, Terra Classic (LUNC) is the new name for Terra's original Luna token, linked to the doomed stablecoin, TerraUSD (UST), which was launched in 2018. LUNC (still LUNA at that time) dropped dramatically when UST lost its peg to the dollar, as the algorithm meant to stabilize UST minted trillions of tokens, causing it to lose almost 100% of its value in the process.

Luna (LUNA) is the name for the native token of the new offshoot blockchain, launched on May 28, 2022. Holders of the old UST and LUNC received the brand-new LUNA tokens through an airdrop in the first token distribution rounds.

LUNA cut its ties to the UST stablecoin after the fork, while LUNC retained it under a new identity, TerraClassicUSD (USTC). This might be viewed as a strategic decision to lay low amid scrutiny from the House of Representatives as they’re drafting a 

 that will ban algorithmic stablecoins for the next two years.

Recently, Terra Classic has been in the news thanks to a tax burn policy being passed. Edward Kim, a community member, 

 on September 1. Proposal #3568, as it's officially known, will charge a 1.2% fee for all on-chain USTC and LUNC transactions across different wallets and smart contracts. Aiming to make LUNC a deflationary token, the proposal entails burning the tax (or removing permanently from the circulating supply) by sending it to a dead address. The tax burn will continue till the total supply of LUNC is slashed to 10 billion, where it will remain unaltered.

The hype surrounding the proposal before it went live on September 20 sent

 to $0.000594 by September 8, 2022. This excitement was further driven by Binance’s decision to be onboard with the proposal and 

 on its LUNC spot and margin trading pairs.

 as of September 29, 2022 was $2.49 in the past 24 hours. LUNA has a daily traded volume of $168,176,481 and a current market cap of $411,316,857, with a total circulating supply of 165,041,684 LUNA tokens.

 as of September 29, 2022 was $0.00028034 in the previous 24 hours, with a 24-hour trading volume of $676,746,092. The token had a market capitalization of $1,956,290,506 and a circulating supply of 6,900,774,631,923 LUNC tokens.

Understandably, the FUD (fear, uncertainty and doubt) surrounding LUNA and LUNC is palpable. Given the rumors of underhand dealings by Do Kwon and the Terraform Labs team, it may take a while for the investing public to regain confidence in the tokens, especially LUNC. 

However, LUNA has comparatively more prospects of a bullish future since it severed ties with the old terra blockchain and its problematic stablecoin. Development on the original terra blockchain has petered out, due to little or no incentives for developers to build new projects on the chain.

Therefore, LUNA is a better option to buy if its rocky antecedents don’t scare you. Still, it may take some time before LUNA sees any sustainable growth. The new blockchain has to incentivize the multiple protocol development teams who worked on the old terra ecosystem to build on the new Terra 2.0 chain. They need to gain confidence to continue building applications on the new chain. This is vital to LUNA's growth, since the long-term prospects of any utility token depend on its use cases and the real-world solutions it can provide to users.

With the recent LUNC pump, it may seem like an attractive investment. But any token that

appreciates by 400% in such a short period should be approached with caution. 

As previously explained, part of the reason for the LUNC pump was the news of the 

, which promised to make the token deflationary in order to shrink the overabundant supply and drive demand and price. The news triggered a wave of speculation that saw the token apparently rebound. 

However, even after taking into account LUNC’s recent rally, it falls desperately short of the original LUNA at its peak. While the LUNC token rose to 

on September 8, LUNA's price was over $100 in March earlier this year. 

It followed that investors who suffered massive losses in the Terra ecosystems crash might

be excited by the hope of recovering their investment, seeing the strong efforts by the dedicated Terra community to revive the project. This is another reason for LUNC's recent gains.

In the end, the most critical question is if the two Terra tokens will be able to regain public trust after such a devastating implosion. Aside from the tax burn, a tactic which hasn’t always proven effective, there's little going on in terms of developments to make the Terra Classic project stand out from the crowded smart contract blockchain space. 

Again, the Terra Classic chain still retains the algorithmic stablecoin mechanism that brought it down in the first place.

Nevertheless, the LUNA and LUNC tokens have made remarkable recoveries in light of past events. After all, both tokens and their networks are still hung over from the debacle, with 

 and Terraform team facing multiple probes and lawsuits.

So, is this an excellent time to buy LUNA or LUNC? Indeed, things seem to be looking up for the two Terra tokens. Nevertheless, you’ll need to research extensively and exercise due caution before investing in LUNA and LUNC. Before we proceed further, here is the general sentiment when it comes to price predictions for LUNA and LUNC.

, LUNA could make an excellent long-term investment, possibly reaching $34.640 within one year, and up to $160.227 by 2027.

DigitalCoinPrice's predictions are more cautious. They foresee LUNA passing $2.43 by year-end, eventually getting up to $2.95. They also believe that LUNA's price can reach a maximum of $12.45 by 2027.

 hitting $2.26 by year-end. Subsequently, they predict the maximum prices for 2023 and 2025 at $4.07 and $8.62, respectively.

Terra Classic (LUNC) is expected to climb to $0.000842 in one year and $0.00235 by 2007, according to 

 to reach $0.000274 by year-end. By 2025, they predict the token's price will rise to $0.000942.

 $0.0002032 to close the year. By 2023, they expect the LUNC price to jump to $0.00195 and up to $0.00246 by the end of 2025.

Are you interested in investing in LUNA and LUNC? Bybit offers a straightforward process to purchase the tokens. Here’s a step-by-step guide.

Investors have shown considerable interest in LUNC and LUNA, as evidenced by their recent price gains. This interest could be attributed partly to the speculation fueled by the LUNA tax burn proposal — and to badly-burned investors trying to recover some of their funds based on hopes for a successful revival of the Terra ecosystem.

However, the new Terra 2.0 chain shows more promise in terms of utility and growth potential. The community of developers behind the project created it as a more promising alternative for protocol developers, who don’t want to build on the moribund Terra Classic chain. This makes LUNA a safer bet over the long term, as developers are likely to add more protocols to the new Terra ecosystem, thereby driving growth.

If you're wondering where you can buy and sell LUNA and LUNC, you're already in the right place. Register with us and get started with your crypto investing journey today.

LUNA vs. LUNC: Are These Terra Projects Still Good Investments?

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