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.