Terra Classic (LUNC) Down 2.5% in the Past 24hrs; Here’s Why

With a 13.6% drop in April, Can Terra Classic (LUNC) rebound this month?

The Terra classic (LUNC) ecosystem has been experiencing many price fluctuations recently, most of which are gearing toward a negative trend.

Terra Classic is down 2.5% in the last 24 hours and is currently at #70 on the crypto list, according to data from Coinmarketcap. 

The token has recently faced difficulties. Many community members are worried about the token’s price trends. 

Related Reading: Terra Classic Down 1.6% in the Past 24hrs; Can LUNC Hit $1?

LUNC Price Movement

For the past 24 hours, the Terra classic price has gradually decreased, starting at $0.000119.

LUNC price has fluctuated over the past hours and is now valued at $0.000116 with a 24-hour trading volume of $61,435,006. 

This represents a 2.5% decrease within 24 hours.

Terra Classic is down 2.5% in the past 24 hours: source @coinmarketcap

Reason Behind Terra Classic Price Dump

A few factors could have caused the decrease in the price of Terra Classic (LUNC). The top of which is the recent rug pull that occurred. 

Terraport, a DeFi platform residing on the Terra Classic (LUNC) network, was attacked on April 10, less than two weeks after its launch. 

As a result, over 15.1 billion LUNC were drained by the attackers.

Community members are hopeful that the token price will bounce back soon as TerraCVita intends to release a revised roadmap for the relaunch of Terraport. 

Read Also: Terra: Request by Do Kwon to Block Access to Vital Documents Denied

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