Terra Classic (LUNC) Price Surges 10% Amid Multiple Developments

• LUNC’s price has risen by about 25% in the last week despite the market’s volatility.
• The speculation that Coinbase may list LUNC has also helped the price rise.

The price of Terra Classic (LUNC) has increased by over 10% in the previous 24 hours. In contrast to other altcoins, LUNC’s price has risen by about 25% in the last week despite the market’s volatility. But the LUNC rally isn’t over yet, and it seems like it will gain even more steam in the coming days.

The price of Terra Classic (LUNC) has been rising steadily since it hit a low of $0.0001269 on August 24. As the fear, uncertainty, and doubt subsides, the Terra Classic community has regained its formerly upbeat mood.

Multiple Developments

Meanwhile, Edward Kim and Tobias “Zaradar” Anderson, two of Terra Classic’s key developers, have established a new development organization called the “Joint L1 Task Force.” In addition, Edward Kim has announced the team’s initial proposal to construct the Layer-1 Terra Classic blockchain.

According to the daily time frame, the LUNC price has been moving in a falling channel since October, and it broke above the channel on December 24. The recent huge burn by validators and Terra Classic projects have contributed to a rise in the Terra Classic burn rate. More than 36.5 billion LUNC have been burnt thus far. Over 80 million LUNC tokens were burned in December by the community (not including Binance).

The speculation that Coinbase may list LUNC has also helped the price rise. In the last day, trading activity has increased by more than 120%. In addition, the community has made a number of significant choices, such as approving Proposal 11111 to nullify Proposal 10983, which had previously influenced the price of LUNC.