The Terra blockchain has not experienced favourable times since its tokens, Luna Classic (LUNC) and the stablecoin TerraClassicUSD, lost their value in the declining cryptocurrency market. Nevertheless, popular crypto analytic platform Santiment believes investors are becoming attracted to the tokens following their recent upward performances.
While Terra founder Do Kwon and his team tried to replace the project with the new token, Luna 2.0, claiming it would save Terra investors from the crash of the old tokens, other experts think the abandoned coins still have more to offer.
Santiment Says Terra Classic’s Performance Will Draw Attention From Investors
The analytic firm posted a tweet with an image of Terra Classic (LUNC) and TerraClassicUSD’s (USTC) recent price rise.
According to Santiment, the over 107% and over 320% increase in the prices of LUNC and USTC, respectively, within the last 55 hours could be a significant catalyst to bring investors back to the embattled ecosystem.
“TerraClassic and TerraClassicUSD have been all but abandoned by the crypto community over the past 2-4 months. However, LUNC‘s +107% and $USTC‘s +320% respective rises in the past 55 hours are something that may merit increased attention soon.”
Recent Terra Development
Luna Classic (LUNC) recently partnered with StarShip, enabling the cryptocurrency to be used as a payment method inside its ecosystem. Therefore, StarShip will burn 1.2 per cent of the total amount of LUNC received from payments.