Benzinga - Social media analytics firm LunarCrush's LUNR (CRYPTO: LUNR) social token is up 44% in the last 24 hours, even as top cryptocurrencies like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) take a hit.
What Happened: At the time of writing, LUNR was trading at $0.092, while BTC and ETH were both up 1%.
The rise in LUNR can be attributed to LunarCrush’s announcement of a feature for content creators.
LunarCrush has set out to change the way creators monetize content and businesses broaden their audience engagement. “Get paid to be a creator. LunarCrush is revolutionizing how creators monetize and businesses expand their reach. For brands and businesses, get precise performance results. As a creator, your content’s success directly boosts your earnings,” an update on the company’s website stated.
LUNR saw $32K in volume from ALEXLabBTC, a Bitcoin DeFi platform. “$32k in volume on @ALEXLabBTC! Love to see it from the @stacks community," LUNR token's official X account posted.
$32k in volume on @ALEXLabBTC! Love to see it from the @stacks community.Should we bring farming to the LP there? pic.twitter.com/WCaOwartD4
— Lunr Token (@LunrToken) January 18, 2024
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Why It Matters: The social token's trading volume is up 119.08% in the last 24 hours reaching $511,678, as per data from CoinMarketCap.
LUNR's rise can also be attributed to speculation and hype that it will be listed on certain cryptocurrency exchanges soon.
New listings coming. Stay tuned.— Lunr Token (@LunrToken) January 10, 2024
Meanwhile, Bitcoin is down from $49,000 last week to around $41,200 in the last 9 days.
Photo by Fernando Cortes on Shutterstock
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