Terra's Original Cryptocurrency Sees Record Highs After Ecosystem Crash
Terra's original native cryptocurrency has seen a huge surge in price, reaching record highs since the ecosystem crashed.
As the trading volume for Terra Classic picks up, the price for the cryptocurrency has jumped to its highest level since the rebranding that followed the protocol's crash. This surge in activity and price is a positive sign for the future of Terra Classic, and indicates that more and more people are interested in the currency.
The new token that emerged from the fallout increased by minimal percentages, but this did not stop investors from flocking to it. The new token quickly became one of the most popular investment options, and its value continued to rise.
- With the market struggling to regain some of its recent losses, LUNC is among the best performers in the past 24 hours. This strong showing indicates that the company is in a good position to weather the current market conditions and come out ahead of its competitors.
- The asset in question has seen a significant increase in value over the course of the day, rising from $0.00025 to trade close to $0.00045 at one point. This represents a gain of around 80%, though the asset has since pulled back and is currently up by 25%.
- It is clear that the collapse of the Terra ecosystem was due, in part, to the fact that the native algorithmic stablecoin – UST – failed to maintain its parity with the dollar. This highlights the need for greater stability and security within the crypto market, as well as the importance of having a clear and reliable peg for any digital currency.
- The market crash of 2018 was a devastating blow to the crypto industry, with billions of dollars of value being wiped out in a matter of days. For UST and LUNA, it was a particularly brutal blow, with the two coins losing a large portion of their market cap. However, the crypto market has since bounced back and is now stronger than ever before.
- The Terra team's decision to rebrand LUNA into LUNC and create a new token appears to be paying off, as the new token is now trading at $2 after a minor daily increase. This is a positive development for the project, which was in jeopardy of being scrapped entirely. It shows that the team is willing to adapt and make changes in order to ensure the success of the project.
- The recent price surge of the LUNC digital currency has been accompanied by a massive increase in trading volume. Daily trading volume has now surpassed $2 billion, indicating strong interest from investors. This price rally could continue in the short-term as more investors flock to this digital currency.
The post LUNC Skyrockets 25% Daily: The Highest Price Since the Terra Collapse appeared first on CryptoPotato. This is great news for investors in LUNC, as the price of the coin has surged 25% in the past day.
