Monday, March 20, 2023
HomeCrypto NewsTerra Classic on the Road to Recovery; Gains 51% in Few Weeks 

Terra Classic on the Road to Recovery; Gains 51% in Few Weeks 

- Advertisement -

In the last eight weeks, Terra Classic (LUNC) has risen to 51%, which is still recovering. On its solo trip, the asset encountered many obstacles. 

Still, these haven’t done much to dampen its vigor because promising developments and the ongoing burn campaign have consistently supported the asset’s price fluctuations. 

The asset recently struck a bear-planned barrier after reaching a 3-month high of $0.00021107.

After a bleak year in 2022, LUNC has taken advantage of the market’s overall uptick this year to make up for losses. 

On December 16, the asset plunged to a 4-month low of $0.000121 in a bearish downturn sustained since the FTX blowout the month before.

LUNC has increased by more than 51% to its current value of $0.0001831, up from a low of $0.000121, as it attempts to make up for lost value. 

In its most recent solo run, the asset had soared to a 3-month high of $0.00021106 last Friday before coming up against an obstacle thrown by the bears. 

Despite the criticism, LUNC increased by 10% last week.

The commodity is attempting to maintain its position above the significant resistance level at $0.00019 since such a move would offer sufficient support for a further rise to the highly sought-after price region of $0.0002. 

Noteworthy Terra Classic investor and analyst Bull LUNC recently stated that LUNC is poised for an impending breakout due to an accumulation at its new support levels.

Terra Classic Community Efforts

Despite a 995% increase since its all-time low of $0.00001675 in May last year, Terra Classic is still a long way from its recovery target, forcing the community to devise several strategies to support its value. 

The burning campaign has intensified for that purpose, and many network enhancements have been proposed.

The request to upgrade the LUNC network from version 1.0.4 to version 1.0.5 was just approved, with Binance expressing support for the upgrade. 

The upgrade will include various enhancements, including changes requested by Binance regarding token burns and re-mints.

These changes are intended to assist the asset’s price movement as it heads for $1. 

Tobias Zaradar Andersen, a well-known developer and community member, had described some strategies to allow a cohabitation between LUNA and LUNC that would result in a $1 pricing point for LUNC.

Read Also:

- Advertisement -
- Advertisment -

Most Popular