Why is Luna Classic going down?

Why is Luna Classic experiencing a downturn in its value? Could this be attributed to the recent market volatility in the cryptocurrency sector? Are investors losing confidence in the project's long-term sustainability? Or is there a specific catalyst, such as a recent development or news release, that's causing this drop? Additionally, how does Luna Classic's performance compare to its peers in the same market segment? It's crucial to understand the underlying factors driving this trend in order to make informed decisions about one's investment portfolio.