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With barely entering the new year, the Terra Classic's (LUNC) price reversed its downward trend and attracted some moderate buys near the level of $0.0001530. As a result of a breakout above the three-month descending channel, the price of LUNC experienced a significant increase over the past week.
The bearish cartel has successfully dragged the TerraClassic (LUNC) price lower and may also reach the levels, it traded during the beginning of 2023. The price was on its way to completing the parabolic recovery that it began after experiencing rejection at $0.000185 during the last few days of 2022.
Analysis of some of the most interesting coins
Crypto exchange KuCoin on December 30 undelegated all 48 billion Terra Classic (LUNC) tokens. This led to the Terra Classic validator KuCoin fall in voting power down to 0.21% and rank to 44th on the validator list.
The Terra Luna Classic price has fallen by 1.5% in the past 24 hours, dropping to $0.00015486 amid a slight dip for the cryptocurrency market as a whole. Despite this blip, it has now risen by 5% in a week and by 20% in a fortnight, although it is down by 11% in the last 30 days.
As the new year unfolds, investors of most cryptocurrencies will be hoping specific assets will rally to reclaim lost glory. One such token is Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem.
Meme cryptocurrencies rose to prominence during the 2021 bull market, recording a meteoric surge in value led by coins such as Dogecoin (DOGE). However, across the last year, the value of most meme coins slumped significantly as the general market experienced a sell-off.
Terra Classic price is up 1.7 percent today as the community passes new rules to fund Layer-1 developers.
Terra Classic developers are planning to get support from the Industry Recovery Initiative of crypto exchange Binance. While the crypto exchange temporarily suspended its LUNC Burn mechanism until March, Binance can offer support to developers building on the Terra Classic blockchain.
The Terra Luna Classic price has jumped by over 5% in the past 24 hours, reaching $0.00016077 as the cryptocurrency market as a whole remains static over the same timeframe. Its current level marks a 0.5% drop in a week but a 23% gain in a fortnight, with the altcoin down by 7% in a month.
Cryptocurrency Price Today: The crypto market starts the year off on a positive note. Polygon shows a rise after a long time, Dogecoin joins and some coins are trading in the red.
The LUNC burn has now been in full swing for a couple of months now. In a bid to reduce the large supply of the token, investors had taken to sending coins to dead (burn) addresses.
LUNC, the native token of the now mostly defunct original Terra blockchain, which saw a catastrophic exit of its Decentralized Finance (DeFi) trade value locked (TVL), developers and community members when the value of its UST stablecoin depegged from the US dollar and triggered hyperinflation in the LUNC token, is rallying a little on Monday. Prices are a little higher across the crypto space on Monday, though most major coins remain within recent ranges.
Terra Classic (LUNC) price witnessed a massive rally last week due to a breakout above the 3-month descending channel. The price rally seems to continue amid the latest developments, proposals, and an increase in the LUNC burn rate by the Terra Classic community.
The last three months downfall in Terra classic coin price shaped a falling wedge pattern. This pattern displays itself when the prices are constantly wobbling between two downsloping trendlines.
Terra Luna Classic struggles to hold support above support at $0.00014, hours ahead of the New Year. The previous year – 2021, saw investors and crypto enthusiasts beam with the hope that 2022 would be laced with world-class developments and key milestones.
Cryptocurrency Price Today: The market is not showing any major development despite being the last day of the year. Terra Classic sees a drastic dip, Dogecoin, Polygon joins, and some coins are trading in red.
BeInCrypto looks at five altcoins that increased the most from the entire crypto market last week, specifically from Dec. 23 – 30. The post BIT, OKB, ICP, LUNC and LDO Are Five Altcoins That Have Excelled in Performance appeared first on BeInCrypto.
Crypto exchange KuCoin on Friday undelegated all 48 billion Terra Classic (LUNC) tokens. The Terra Classic validator KuCoin has reduced its voting power down to 0.21% and is ranked 44th on the validator list.
LUNC, the native token to the original Terra blockchain, which is called Terra Classic, is an underperformer on Thursday, nursing losses of about 5.5% in the last 24 hours. LUNC/USD was last changing hands in the mid-$0.00014s, down about 20% from its earlier weekly highs above $0.00018, but still up about 15% from monthly lows in the $0.000127 area.
Solana also continues to suffer and currently sits below $10.
Cryptocurrency Price Today: The market is trading in red as major coins plummet toward the end of the year. Terra Classic, which was soaring by double-digits, a couple of days back is down by almost the same percentage.
Binance plans to reduce LUNC trading fees from 100% to 50%. LUNC reacted negatively, shredding 12% on the day.
LUNC – the original crypto of Terra Luna – jumped 16% on Dec.27 to an intraday high of $0.0001848, beating Bitcoin to become the top performer in the festive season. On the other hand, the flagship crypto was trading at $16,787 in the same period, per CoinMarketCap.
