USTC Soars 15% Amid LUNC’s Recovery Post BTC Surge

Terra Luna Classic (LUNC) and Terra Classic USD (USTC) have recently experienced significant price fluctuations. After an impressive rally, both tokens saw a pullback, drawing attention from investors and market analysts. However, LUNC and USTC have nullified the bearish trend, with prices over 18% and 15% as of press time.

LUNC’s Rollercoaster Week

LUNC, the revamped version of the original Terra Luna, showed a remarkable 26% gain over the past week. This surge peaked on November 27, with the token reaching $0.000128 before the momentum faltered, with the price dropping to $0.000095. Moreover, despite this decline, LUNC has recorded a substantial 27.70% increase over the past seven days and an even more impressive 49.23% surge over the past month.

USTC Skyrockets after LUNC Recovery

Similarly, USTC, the dollar-pegged stablecoin that remained de-pegged following the 2022 collapse, made headlines with over 200% rise. Although it peaked at $0.078, the price adjusted to an intra-day low of  $0.03147 before establishing solid support. Despite this, USTC has recovered, with a 205.53% upswing over the past week and a 233.95% rise over the month. Moreover, as of press time, USTC had negated the bearish pressure, surging by 15.90% to $0.046125, according to CoinStats.

USTC price chart

A key driver for these price movements is the recent strategic acquisition of USTC by Terra Classic Labs, which has also positively influenced LUNC’s value. However, despite the recent negative trend, a dip of over 20%, USTC has shifted to bullish momentum in the past day. This resurgence is attributed to LUNC’s bullish recovery after Bitcoin (BTC) soared past $38000.

Despite these fluctuations, the tokens have garnered significant attention in the crypto community. Analysts from Santiment suggest that the initial price rallies of LUNC and USTC might have been fueled by a fear of missing out (FOMO) among investors.

Read Also: LUNC Price Jumps 15% As Bitcoin Breaks Above $38k Again

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Kelvin is a distinguished writer specializing in crypto and finance, backed by a Bachelor’s in Actuarial Science. Recognized for incisive analysis and insightful content, he has an adept command of English and excels at thorough research and timely delivery.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.