Do LUNA HODLers have a reason to smile with new ‘Expedition’

ambcrypto.com:

Inspired by Pokémon GO, Expedition is Terra based Play-to-Earn Augmented Reality (AR) game that recorded 65,000 waitlist signups on the 27 April being its first day. While leveraging the AR technology, the game allows its players to earn $LUNA.

Now the pertinent question is- Since waitlisting started, how has the $LUNA token performed?

In the last 24 hours, at a price of $84.88, LUNA recorded a 2% spike. The current price of this coin represented a 28% decline from its ATH of $119.98, a milestone it reached just a month ago.

On a price front, no significant traction was recorded following the announcement and the subsequent waitlisting. Rather, the coin further declined in price. On a 7-day window period, the price of the coin recorded a decline of 11%.

Source: TradingView

Standing at $29.2b at the time of this press, within the last seven days, the market capitalization for the token also recorded a 13% decline. Moreover, trading volume in the past 24 hours appeared to have jumped 11%. However, the position of the price of the token and its market capitalization do not appear to have provided any succor to LUNA investors.

Powered by Terra and offering to pay players in LUNA, one might expect the waitlist to be marked by a spike in the developmental activity for the token.

However, reverse was the case. At the time of this writing, the developmental activity for LUNA stood at 44.57 on a freefall from the 44.84 recorded two days ago.

Source: Santiment

Further to this, on a social front, the token toed a similar progression. Attempting an uptrend on the 26 April when the waitlisting commenced, the social dominance embarked on a reversal pushing the index for this metric further downwards.

At the time of this writing, this stood at