Is Bottom Already In For Terra Classic Coin?

LUNC Price News: With the Terra Classic community speculating that Coinbase is set to purchase a huge amount of LUNC, the token price is on the rise on Thursday. The cryptocurrency received significant momentum due to the Coinbase LUNC buy news. The positive momentum is quite strong now among traders, so much so that the LUNC price rose way higher than the rest of the crypto market. This comes amid market challenges like more companies facing liquidity issues due to the FTX bankruptcy and the macroeconomic scene.

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In this context, Bitcoin price continues to hover around in the $16,500 level since November 2022. Considering the current scenario and the holiday season next week, BTC’s sideways movement could continue for considerable future. Meanwhile, the Terra Classic (LUNC) price is attempting to reach the 7-day high level of $0.00016. As of writing, LUNC price stands at $0.0001352, up 4.94% in the last 24 hours, according to price tracking platform CoinMarketCap.

LUNC Price Already Found Bottom?

In this context, the crypto community is wondering if LUNC has already found the bottom. Many LUNC holders believe the token found its bottom at $0.00012. Crypto analysts believe the token is making a good recovery at the current level. Meanwhile, Binance said it completed the second round of Terra (LUNA) airdrop distribution to eligible users who held Terra Classic (LUNC).

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Meanwhile, the Terra (LUNA) price is still following a largely sideways movement. As of writing, LUNA price stands at $1.26, up 0.42% in the last 24 hours.

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Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

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.