The recent development stated that Binance has aided Terra classic (LUNC) recovered $1 billion in terms of market capitalization 10 days after its went below the figure.
Notably, the recent development was brought up by the recent surge of about 18% in the past week following the late Binance LUNC burn for November.
The value of LUNC was seeing skyrocketing yesterday which drove in more market capitalization, making the total market cap hit above the one billion level as noted by the CoinMarketCap. It is worth noting that last month’s LUNC market reaction revealed Binance’s commitment to supporting the LUNC community on the burning campaign.
Binance Aids LUNC Recovery Of Its Former $1 Billion MC
According to the record, the largest crypto exchange by 24-hour trade volume set a whopping almost 6.3 billion LUNC on fire the last November making its total burn hit 20.1 billion LUNC.
These reports reawakened investor interest in the asset as 24-hour trade volume rallied from $80M+ on November 30 to $126M+ on December 1, marking a 57.4% increase in less than 24 hours, according to CMC. The volume further surged by another 98% today, increasing to the current value of $250M+ at the reporting time.
The current market capitalization of the LUNC makes it occupy the 39th position of the largest crypto assets by market cap while assets like Huobi Token (HT), Pax Dollar (USDP), Tezos (XTZ), and Aave (AAVE).
There have been a series of milestones in the Terra Classic following its revival from the impact of the May Terra collapse. For instance, cryptolifedigital recently reported that Terra Rebel launched its own Terra Classic wallet to mitigate dependence on Terra Station and the Terraform Labs.
While this was rolling in, there are still more in the pipe for the Terra Classic network before the year fade out including the network upgrade and the Re-opening of the IBC.
Amid these reports, LUNC is changing hands at $0.0001874, up 10% in the past hour. Notably, the community estimates that the asset will end the year at $0.0002017, a 7.53% increase from its current value.