Terra Classic (LUNC) is showing fresh signs of life, posting a 4.94% gain in the last 24 hours. As of this writing, LUNC trades at $0.00005998, marking a noticeable uptick from its daily low of $0.00005726. The sharp rise in trading volume, up by a staggering 114% to $13.6 million, signals a return of speculative interest in the once-troubled altcoin.

Market Reawakening: Strong Price and Volume Signals

The market capitalisation has also increased by 5%, now standing at $327.94 million. This coincides with an increase in investor activity, which has pushed LUNC’s daily high to $0.00006033. 

_{24-hour price chart. Source: CoinMarketCap}

Although the gains seem modest in raw numbers, percentage-wise, they’re significant for a token with such a low trading price. The 24-hour volume-to-market capitalisation ratio stands at 4.15%, indicating a relatively healthy liquidity level for short-term traders. 

Related article: Terra Classic (LUNC) Gains 2.7%, Is a Bigger Breakout Coming?

While LUNC is far from its all-time high of $119.18, reached in April 2022 before the massive collapse, it’s essential to note that the current price represents a 257% recovery from its all-time low of $0.00001675, set in May 2022.

Supply Dynamics and Whale Watch

LUNC’s circulating supply currently sits at 5.46 trillion tokens out of a total supply of 6.49 trillion. With no fixed maximum supply, concerns about inflation persist. However, the spike in trading activity over the last 24 hours hints at either coordinated accumulation or short-term speculative plays, possibly by whales or large holders reacting to technical signals or ecosystem news.

The price movement chart also depicts a steady upward trend, with a clear breakout starting around 6 PM and continuing through the early morning hours of July 10. Despite some midday pullbacks, buyers maintained control, holding prices above key micro-supports.

Related article: Terra Classic (LUNC) Battles to Stay Above $0.00005560: Is a Deeper Pullback Coming?

LUNC’s current rally may not scream long-term breakout just yet, but today’s volume and price surge can’t be ignored. The token still bears scars from its historic crash, but it’s now attracting volume and trader attention once more. Whether this is a temporary spike or the start of a more extended recovery phase remains to be seen but for now, Terra Classic is back in the spotlight.