Terra Luna Classic’s Re-Listing on Coinbase Sparks Speculation Among Investors
Coinbase Global Inc. is reportedly considering the relisting of Terra Luna Classic (LUNC), which has caused a surge in the cryptocurrency’s price and market performance.
Utilizing Coinbase and Terra Luna Classic: A New Development
The project was created as a result of the collapse of Terraform Labs in 2022, which led to the liquidation of over $60 billion in both LUNA and UST cryptocurrencies. Terraform Labs backed the forking of a new chain with the retained Terra (LUNA) identity, leading to the creation of Terra Luna Classic (LUNC).
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The Impact of the Relisting: A Closer Look
The potential relisting of LUNC by Coinbase is highly significant as it signifies the exchange’s confidence in the project. This move comes as a major vote of confidence and could potentially propel Terra Luna Classic to new market highs. Furthermore, Coinbase Wallet has shown support for LUNC, further strengthening the relisting speculation.
Exploring the Market Response to the News
The Terra Luna Classic community has proposed bringing Allnodes as an official organization to manage the endpoint for circulating supply, which will improve the ecosystem’s functionality. This potential relisting of LUNC by Coinbase has sparked a bullish uptick in the community, as the price of LUNC has risen by 1.10% in 24 hours to $0.0001054, marking a significant trend shift amid a series of positive news this month.
Read Also: Terra Classic (LUNC) Price Up Slightly, AI Model Predicts Rise in May
Conclusion
Investors are advised to conduct thorough research and exercise caution when investing in cryptocurrencies. Although the potential relisting of LUNC by Coinbase is a significant development, it is important to be mindful of the risks involved in investing in cryptocurrencies.
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Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.
