Terra Classic rockets over 10% amid crypto market frenzy

Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, continues on its upward trajectory despite the latest crypto market panic triggered by two consecutive lawsuits by the US Securities and Exchange Commission (SEC) against leading crypto exchanges Binance and Coinbase, respectively.

Timeline of Terra-luna

The fallen terra classic (LUNC), formerly known as LUNA, has been struggling since the collapse of the Terra ecosystem in May 2022. The asset has dropped further with the current FUD around Binance.

In a surprising twist, Luna Classic (LUNC), the original token of the Terra ecosystem, experienced an unexpected price spike recently, a rare occurrence considering the token's sustained downtrend since September 2022. However, the joy was short-lived as it quickly gave up its gains and fell by 14%.

Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, has recently witnessed a remarkable surge in value, at one point surpassing 30%. This surge comes as a ray of hope amidst a period of pessimistic market sentiment that has persisted for weeks.

India's economic agency officials have discovered a cryptocurrency wallet worth almost $1 million while investigating a case against a man suspected of fraud and money laundering.

The Terra Classic (LUNC) token has increased by over 20% in the past 24 hours as the community discusses the Parity upgrade. If the proposal is approved, the upgrade is expected to be passed on June 14.

Terra Luna Classic (LUNC) price skyrocketed 35% supported by a massive increase in trading volume. The rally came in response to Binance delisting the USDⓈ-M 1000LUNCBUSD Perpetual Contract, as well as updating leverages and margins for the perpetual contract.

Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, has seen a resurgence in the past 24 hours. What Happened: The token has shot up by 20% following the announcement of the v2.1.0 upgrade proposal, which has generated significant attention among investors.

Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, has experienced a significant surge in value, offering a glimmer of hope amidst weeks of bearish sentiment. Indeed, the gains come as the LUNC community implements various initiatives aiming to give the network utility.

Amid the last three weeks' consolidation, the LUNC price formed a descending triangle pattern in the 4-hour time frame. Though this pattern commonly accelerates the supply pressure in an asset, in rare cases, the buyers express higher dominance with the breakout out of its resistance trendline.

Terra Classic core developer group Joint L1 Task Force (L1TF) officially released the proposal for the v2.1.0 upgrade for discussion and review on Commonwealth. It is one of the biggest upgrades since the Terra Classic community took charge of the blockchain after the Terra-LUNA crisis in May last year.