Has Terareum [TERA] lost its mojo?

Sahana Kiran
Terareum
Source – Unsplash

The crypto-verse welcomes new assets every day. Terareum [TERA] was one of them. While most new assets fail to grab the attention of the market, TERA proved otherwise. The asset made immense news just days after its launch. From listings to significant price surges, TERA was here to make it big. However, the latest controversies surrounding the asset and the dramatic price drop have got the community expressing concern.

Terareum was under the crypto spotlight following the 500 percent surge it attained within just 14 days of its arrival. This was followed by multiple exchange listings. An approval Certik was an add-on to the hype around the coin.

A listing on one of the world’s largest cryptocurrency exchanges, Binance, and its counterparts was a big deal. The entire market was stunned after Terareum revealed that it would soon be a part of Binance. the US. This, however, took another direction after Binance affirmed that it wasn’t listing the asset.

Following this, the Terareum team did not address the issue at all. The team instead moved on to announce several other listings.

Here’s what’s going on with TERA

In the meantime, TERA was witnessing a massive price drop. Over the last 24-hours, the asset was down by 21 percent. During press time, TERA was trading for $0.000000004574. The entire week was dull for the asset as it nosedived by nearly 45 percent.

It looks like this trend could persist. At least its chart says so.

Terareum
Source – TradingView

The TERA/WETH one-hour price chart was painted in red. The Parabolic SAR indicator used in the chart exhibited strong bearish momentum. The Awesome Oscillator indicator formed bold red closing bars again indicating a bearish notion.

While the price of the asset is going haywire, Crypto Twitter went ballistic on TERA. An array of memes surfaced all over the internet.

Exchanges are on a Terareum listing spree

Despite being submerged with the bear, Terareum continued to be listed on several exchanges. ProBit was the latest exchange to add TERA into its system.