Terra Classic (LUNC) is back on CoinMarketCap’s list of top-gaining assets for the first time in a month. The asset has suffered greatly since the Terra ecosystem collapsed on May 9, 2022. LUNC rallied considerably in the last 24 hours to $0.0001243, and everyone hoped it could reclaim its February 2023 high of more than $0.0002.
Terra Classic Community influencer and TerraCVita core team member Classy Crypto noted the surge on Twitter, saying that this is the first time the asset made it to the top gainer’s list in almost 4 weeks.
The Rise of Terra Classic – LUNC
Snapshot data reveals that LUNC managed to gain almost 6.93% in a 24-hour time frame and gained a noticeable high. This growth helped Terra Classic to enter the top 100 gainer’s club. This move is special because Bitcoin and other cryptocurrencies are trading sideways or at a loss.
In the not-so-distant past, LUNC has battled bears, crypto winter and the aftermath of Terra ecosystem collapse, which tumbled the price close to $0.00013. But despite all the hardships, the asset has regained its lost position and managed to stand on the third podium with notable gain in the last 24 hours. LUNC stands after Enjin Coin (ENJ) and Injective (INJ).
Terra Classic – LUNC – Current Standing
When writing, LUNC was trading at $0.000125 with a slight gain of 2.00%, its value against Bitcoin hiked by 1.69% to 0.000000004473BTC, its market cap jumped by 1.7% to $737 million, and trading volume was $109.8 million after gaining 146.55%. All these numbers indicate a deviation of investors towards Terra Clasic.
The recent rally has challenged a downward-slopping EMA; however, if the price action wants to enter the supply zone, some confirmation candles and continuation of this positive sentiment are required. The current price is close to a major low; hence, the $0.0001163 is strong support; crossing this line might not happen.
Although experts were not surprised by the rise and other parameters, it was already revealed that LUNC was among Asia’s and Europe’s heavily viewed assets in the first quarter of 2023. It also managed to be the top-viewed asset in Decentralized Finance (DeFi) and took a market share of 44.2%.
TerraCvita has launched the Terraport project with the native token Terra, aimed at increased burning and bringing utility to the LUNC. While Cremation Coin has emerged as one of the biggest burners of the LUNC and has announced the introduction of a new innovative initiative in NFT, which would also help burn more Terra Classic (LUNC).
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/04/07/terra-classic-lunc-re-enters-the-cmc-top-100-gainers-in-a-month-2/