The Joint L1 Task Force (L1TF), comprising Terra Classic (LUNC) Core developers, successfully executed the highly anticipated Parity Upgrade on June 14, 2023. This pivotal event materialized thanks to the endorsement of Proposal 11561 by the Terra Classic Community, thus clearing the path for the seamless implementation of this critical update.
Remarkably, Terra Classic swiftly ascended to the forefront of the digital asset landscape, exhibiting an impressive 7-day gain in value amidst the tumultuous backdrop of a crypto market downturn. Notably, industry behemoth Binance pledged its support for this transformative upgrade, further solidifying its significance.
Nevertheless, the narrative took an unexpected turn on June 16, as Terra Classic grappled with the unfortunate distinction of being one of the day’s most notable underperformers. Consequently, this development engendered a modicum of uncertainty, leaving Terra Classic and, indeed, LUNC investors momentarily perplexed.
Amidst this climate of fluctuation and ambiguity, investors have sought solace in the realm of machine learning algorithms to discern the potential trajectory of this digital asset as the month draws to a close. Furthermore, Finbold sought the insights of the LUNC crypto community at CoinMarketCap, leveraging their predictions regarding the token’s price come June 30.
The community set an average price for LUNC at the end of the month at $0.0001434, a +53.8% from its current price at the time of publication.
These collective price estimate votes serve as a compelling gauge of market sentiment, shedding light on the prevailing sentiment surrounding Terra Classic and its anticipated future performance.
Terra Classic chart analysis
Presently, LUNC is being exchanged at a price of $0.00009506, registering a decline of 1.72% within the day while experiencing a 3.03% decrease over the course of the week.
Within the Terra Classic ecosystem, the token boasts a solid support level of $0.00008, indicating a level at which significant buying interest has historically emerged.
On the other hand, LUNC encounters a formidable resistance Level at $0.00011, signifying a price point where substantial selling pressure has historically impeded further upward movement.
The overall valuation of the Terra Classic project currently stands at $555 million.
