In an unprecedented turn of events, the popular Terra Classic ecosystem tokens, LUNC and USTC, have taken the crypto market by storm, experiencing remarkable rallies and posting impressive gains over the past 24 hours and seven days.
LUNC Is up by 16.25% and USTC By 52.36%
USTC, formerly known as TerraUSD (USD), has witnessed a surge in its value, although it has not yet reached parity with $1. Currently trading at $0.01798, USTC has demonstrated a remarkable 52.36% increase in price over the last seven days, with a further appreciation of over 12% in the past 24 hours. This sustained surge, which began on June 14, has led to the trading of more than 8.17 billion USTC, equivalent to over $146 million, in the last 24 hours alone. Consequently, USTC’s market capitalization has exceeded $173 million, raising hopes among market participants for a potential re-peg.
LUNC, on the other hand, has undergone a significant transformation by eliminating a zero from its value, reclaiming the $0.00009473 price range. Over the past seven days, LUNC has experienced a notable increase of 16.25% in price, while registering a mild appreciation of over 3% in the last 24 hours. The trading volume for LUNC has surged to $97.6 million across various exchanges within the past day, and its market capitalization currently stands at approximately $550 million.
Recent data from CoinMarketCap indicates that the latest rally in LUNC’s price coincided with Binance’s sixth-anniversary celebration on July 14. As part of the festivities, the world’s largest cryptocurrency exchange published a blog post reflecting on its humble beginnings and highlighting its numerous achievements. Despite Binance’s LUNC holdings reaching a value of $1.6 billion in April 2022, the asset has remained unsold. In the update, Binance stated, “Until today, the LUNA (now LUNC) tokens we received still sit on the address we originally received them on, never moved and never sold.”
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These remarkable developments in both LUNC and USTC have sparked excitement and optimism within the crypto community. Market participants eagerly anticipate further upward movements in these Terra Classic tokens as they continue to gain traction and attract significant trading volume. With LUNC’s market capitalization hovering around $550 million and USTC’s trading volume surpassing $146 million in the past 24 hours, the upward momentum and increasing investor interest indicate a promising outlook for the future of these tokens within the Terra Classic ecosystem.