The prices of TerraUSD Classic (USTC) and Terra Luna Classic (LUNC) spiked amid positive developments for the Terra Classic (Terra) network. The increases and many transactions on the network suggested the Terra Classic ecosystem was returning to life after its 2021 collapse.

On Nov. 27, the USTC/USDT exchange rate rose 176% in 24 hours to $0.037, and by the time of writing, it had increased to $0.058. Terra Luna Classic rose almost 30% to $0.0000968 between Nov. 26 and Nov. 27, and, in the last 24 hours alone, has increased 27%.

Terra and LUNC Revived?

These positive signs appear to result from a community effort to restore the former glory of the Terra Classic ecosystem. BeInCrypto has seen other indicators that bode well for the network operation.

Read more: What Is Terra (LUNA)?

TerraClassic Foundation data reveals that the number of Terra transactions has reached a record in the past week. On Nov. 22, users initiated around 589,000 on the network, almost double the 300,000 daily average transactions for the previous month.

At the same time, the number of tokens staked on the Terra Classic network has also risen. The proportion of LU

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Author: David Thomas

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