Why Is TerraClassic (LUNC) A Market Favourite Right Now? What Lies Ahead?

2021 was the year of meme currencies like Dogecoin (DOGE) and Shiba Inu (SHIB) which gained massive traction. However, that didn't last for long as the interest slid down as other prominent cryptocurrencies gained the interest of the market participants.  The Terra Classic (LUNC) was introduced after Terra (LUNA) collapsed in May.

Timeline of Terra-luna

The world's largest cryptocurrency exchange, Binance, has announced it is expanding support for the community-led Terra Classic chain and will be adding Terra Classic (LUNC) and TerraClassicUSD (USTC) to Binance Convert.

With a value increase of 50.58% Friday, Terra Classic (LUNC) surprised everyone by emerging as one of the top 100 gainers in the cryptocurrency market. LUNC has been rising for four days in a row and has increased by 77.36% over the past week.

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.

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.