BeInCrypto – The Classic Token (LUNC) started the week up 9% in the last 24 hours and reached the $0.0001579 range.
At the time of writing, LUNC is trading at $0.0001571. This number represents an increase of 9%, according to data from CoinGecko. At the same time, the Terra Classic token also saw an 11% increase over the past week.
On the other hand, LUNC Token is up over 15,000% from its all-time low of $0.000000999967 It was recorded last May after the Terra (LUNA) ecosystem collapsed.
. Source: CoinGecko
Amidst the current momentum in LUNC price, there are two elements to consider. in the first place, The network has seen an accelerated burn of LUNC tokens In an attempt to make the asset more useful and thus aiming to raise the price.
On the other hand, on December 22nd Binance Successfully Completes Its Second Terra (LUNA) Airdrop For eligible users who hold Terra Classic (LUNC) and Terra Classic USD (USTC), as reported by BeInCrypto.
Controversies surrounding the Terra Classic
Despite the hype caused by LUNC’s high price, the Terra Classic project was not without controversy. Yesterday, Twitter user PSX_TX (NYSE:) exposed the risks surrounding legal valuation Because of the previous allocation of $150,000 to the Terra Rebels group.
The whistleblower noted that the group appeared to be at risk of being charged with misleading advertising. On the other hand, he claims that The FTC could charge the group based on misappropriation of funds in the $12,500 distributed to its members..
#PublicServiceAnnouncement: A message from TR (INACTIVE)PSX_TX Communications Manager. In the spirit of “transparency” please see the link and Mary Christmash https://t.co/V08MOJpNEG#Whistleblower
— Terra Rebels (@TerraRebels) December 25, 2022
A look at the cryptocurrency market
The current rally in LUNC comes as the crypto market is going through a period of consolidation and major cryptocurrencies have not seen major changes.
(), The largest cryptocurrency by market cap is currently trading at $16,833. For its part, (ETH) is trading at $1,216 at the time of publication, according to data from CoinGecko.
Market Summary #BTC Remains at $16.8K #ETH Remains at $1.2K Winners in 24 Hours: Terra Luna Classic ($LUNC) +7.20%, ($LTC) +6.90% and The Graph ($GRT) +5.50% Fear and Greed Index: 28 (fear) #MIR #APT #ATOM pic.twitter.com/hOBJRWEyXf
— Tech With Catalina (@Techconcatalina) December 26, 2022
The cryptocurrencies that complete the top ten have not undergone significant changes in recent days and The total cryptocurrency market cap is currently $845 billion.
Post Terra Classic (LUNC) Up 9% in 24 Hours: The start of the week with big gains is spotted for the first time on BeInCrypto.
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