This week, Terraform Labs’ Terra Luna Classic (LUNC) and TerraClassicUSD (USTC) have recorded gains of over 130% and 235%, respectively.  

Recall that Terraform Labs, the web3 project in charge of the Terra Luna Classic (LUNC) and TerraClassicUSD (USTC) altcoins, strategically deployed $10 million worth of assets across three distinct liquidity pools in November. 

This move laid the groundwork for the bullish momentum experienced by USTC and LUNC, demonstrating the profound impact strategic maneuvers can have on the crypto landscape.

Crypto analysts comments 

Adding a layer to the narrative, a popular crypto YouTube channel recently featured an analyst providing a nuanced perspective on USTC’s current trajectory. 

Despite USTC’s impressive climb from under $0.03 to over $0.05, the analyst issued a cautionary note, pointing to emerging weakness in Luna Classic (LUNC) as a potential harbinger of trouble for USTC. 

USTC started the week on a strong note, surging by an astounding 300% following Binance’s announcement of the launch of USTC perpetual contracts. Exchanging hands for $0.066 at the time of writing this report, USTC has experienced a 235% price increase in the past seven days, with a circulating supply of 9 billion USTC. This surge reflects the market’s response to strategic developments and key announcements.

LUNC’s burn mechanism triggers rally

On the other side of the spectrum, LUNC has witnessed a significant price increase of 130% within the same timeframe. 

Binance’s recent burning of 3,903,522,969.89 LUNC t

Go to Source to See Full Article
Author: Ogwu Osaemezu Emmanuel

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details