Terra Classic (LUNC), the old token of Terra after the fork in May this year, has experienced a sharp rise recently. With the assistance of strong trading volume, the price of LUNC once soared by more than 55% within 24 hours, and the increase in the past 10 days is even higher. 300%, in one fell swoop into the top 30 cryptocurrencies by market capitalization.
Terra launched a new blockchain on May 27 after the crash, using the old name Terra and renaming the old chain to Terra Classic (LUNC). At the time, cryptocurrency investors were bound to feel uncertain about the fate of LUNC. However, it now appears that LUNC is showing a way back for investors.
The Terra Classic community has successfully pushed the LUNC price to the target of $0.0005. Since the 1.2% “burn tax” proposal is determined to be voted on on September 10, once approved, it will be launched around September 20. If Finally, it can be successfully implemented. The Terra Classic community believes that the price of LUNC will rise again, and the next short-term target will be $0.01.
LUNC is gaining unprecedented support. According to data from CoinMarketCap, LUNC is at $0.0005332 at the time of publication, with an increase of 51.43% in the past 24 hours, a trading volume of more than $3.3 billion, and a market value of about $3.2 billion, making it the 26th largest cryptocurrency by market value. , second only to Monero (XMR), Stellar (XLM) and Bitcoin Cash (BCH).
Today, LUNC has surged more than 3,000% from its all-time low. In fact, LUNC has risen 300% in the past 10 days, benefiting from burning, staking, project construction, ecosystem education and governance activities. Currently, more than 500 billion LUNC tokens have been pledged, and nearly 3.62 billion LUNC have been destroyed.