Terra Classic [LUNC] on a bullish rampage as demand picks up

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Terra Classic and its native token LUNC are the original coin and chain, identifiable by the “Classic” in their name.

Timeline of Terra-luna

Terra Classic is building a powerful storm in the cryptocurrency market as the token has surged over 250% in September till now. The terra classic (LUNC) has gained an incredible increase of 463% over the last month. The crypto community has continued to push LUNC due to its newly introduced staking service and burning-token feature.

Terra Classic (CRYPTO: LUNC), the native token of the blockchain that crashed and burned earlier this year, has been on a tear over the last few weeks. What Happened: LUNC rallied 460% from $0.000091 on Aug. 8 to $0.000548 on Sept.

Terra Classic (LUNC) appears to be making a comeback following its apparent collapse in early May 2022. One of the year's most impressive comebacks is taking shape around the token. LUNC has increased by 37,000% ever since it gained its bottom following the Terra collapse. 

Coming back from the crypto underworld, the LUNC price has experienced a massive bull-run over the past 30 days. The native token for the Terra Classic network, LUNC has been the subject of a lot of controversy as it lost over 99% of its value in a single year.

On Wednesday (September 7), crypto exchange KuCoin announced support for the 1.2% tax burn proposal of the Terra Clasic ($LUNC) community if “the proposal is officially approved and implemented” on the Terra Classic mainnet.

TerraClassic with the recent price action is now the top performer that underwent a strong recovery and placed itself within the top 30. The price dropped heavily after its algorithmic stablecoin lost its peg. Moreover, Do-Kwon, the founder's rescue plan also did not have a major impact on the LUNC price.

A widely-followed crypto trader is expressing bullish sentiment on one altcoin that has surged by triple digits in a fortnight. Pseudonymous crypto analyst Altcoin Sherpa tells his 182,700 Twitter followers that based on the Fibonacci indicator, Luna Classic (LUNC) will continue rallying on the condition that Bitcoin (BTC) and Ethereum (ETH) “hold up.

Terra Classic (LUNC) has a current market cap of $3.3 billion, roughly 12x higher than Terra LUNA's $258 million. The post Community-led Terra Classic (LUNC) now worth 12x more than Do Kwon-led Terra LUNA appeared first on CryptoSlate.

Terra Classic's LUNC has been all the rage for the last week or so, thanks to confirmation about its tax burn. Its price action has subsequently favored the upside, delivering as much as a 78% rally in the last two weeks.

Terra Classic has been on a massive rebound in recent weeks. LUNC, the native token for the original Terra Luna blockchain, recorded a massive plunge in May after the depegging of the TerraUSD (UST) stablecoin and the resulting collapse of the Terra blockchain. Now, LUNC looks prime to make a comeback.