The global cryptocurrency market capitalization has increased 1.9% to $1.07 Trillion in the past 24 hours. The two Terra blockchain tokens that were deemed ‘defeated’, now known as terraclassicusd and luna classic (LUNC), saw significant gains. LUNC has risen 8% in the last 24 hours, while the once-stable USTC has risen 42.2% against the U.S. Dollar on Tuesday.
The two Terra’s Classic network coins — Terraclassicusd and Luna classic (LUNC — saw their value jump significantly on Tuesday for some unknown reason. Do Kwon’s recent interviewwith Coinage in which the Terra co-founder talked about the possibility that there might be a mole within Terra.
The two Terra’s Classic network coins — Terraclassicusd and Luna classic (LUNC — saw their value jump significantly on Tuesday for some unknown reason. Do Kwon’s recent interviewwith Coinage in which the Terra co-founder talked about the possibility that there might be a mole within Terra.
Kwon stated that he was the only one responsible for any weaknesses that could have been presented to a short seller in order to make a profit. “I and only I are responsible for any weaknesses that were presented to a short seller in order for them to begin to make a profit.
Four days later, USTC and LUNC have seen significant gains compared with a large number of coins in the crypto economy. Today, LUNC prices jumped 8% and USTC prices have increased by 42.2% in the past 24 hours. USTC has seen $65,310,000.430 today in global trading volume, while LUNC has experienced $60,659,000.973.
The classic coin is on the rise, but the Terra Phoniex network’s new blockchain asset LUNA has seen a 9.4% increase in trading volume over the past day. LUNA’s volume of $32,205,000.006 is only half that of LUNC and USTC.
Classic Supporters Try to Manifest a 1 USTC, Late Aug Terra Classic Market Revival Following the Failed Pump during the First Week in July.
Statistic shows that OKX is today’s most active USTC exchange, while Kraken ranks as the top LUNC trading platform. USTC trades pair with BUSD 80.16%, and USTC swaps with tether ( UST 18.71%). Although USTC has increased 42% in value, the current price of $0.0307 per unit is still very low.
Although the exact reasons for the Terra classic coin spikes remain unknown, some crypto advocates are trying to “manifest” $1 USTC. Some Terra classic supporters even discussed some type of repeg concept regarding the once-stable USTC.
Luna classic supporters are a vibrant community. They are arguably more vocal than LUNA 2.0 supporters on social media. There is a LUNC DAO, and a lot of Terra classic-centric social accounts that support the old chain and its tokens. Terra classic supporters are trying to rally support Tuesday, but the tokens LUNC/UST are still called “Scam Coins” or “ultimate Ponzi”. Also, prices dropped after the initial week of July when the two Terra classic coins significantly pumped . In July, USTC rose 470% in a span of seven days.
