The three tokens of the Terra ecosystem — Terra (#LUNA ), Terra Classic (#LUNC ) and TerraClassicUSD (#USTC/USDT ) — have gained momentum following an update last week. The surge comes a week after Terraform Labs deployed $10 million worth of assets in three different liquidity pools. #LUNA is up by 22% in the past 24 hours and is trading at $0.83 at the time of writing. The asset’s market cap rose to $490 million, making it the 99th-largest cryptocurrency. Terra’s 24-hour trading volume also witnessed a 400% surge, reaching $485 million.According to data provided by the market intelligence platform Santiment, LUNA’s total open interest (OI) registered a 23% surge over the past day — rising from around $67.7 million to $82.4 million. Moreover, the price surge comes as Terra witnesses a 270% rally in its social activity over the past 24 hours, per Santiment. Luna Classic recorded a 42% hike in the past 24 hours and is trading at $0.00011 at the time of writing. LUNC’s market cap reached $661 million with a daily trading volume of $513 million — making it the 79th-largest crypto asset. According to the market intelligence platform, LUNC’s total OI increased by 54% in the past 24 hours — rising from $3.8 million to $5.8 million. In addition, per Santiment, Luna Classic’s social volume witnessed a 285% rally over the past day. Following the upward momentum, both LUNA and LUNC have gained a spot among the top trending cryptos on X (formerly Twitter), Telegram and Reddit, according to Santiment.Furthermore, USTC’s 268% rally in the past 24 hours helped it gain the 96th spot among the top cryptocurrencies. The asset’s 24-hour trading volume soared by 2,300%, reaching a whopping $1.1 billion over the past day. USTC is currently trading at $0.063.Following the deployment, the Terra ecosystem witnessed a 25% surge in daily transactions and a 900% surge in user activity. #ustcrepeg source: crypto.news

#LUNC🔥 Coin Poised for Potential Surge as Bitcoin Dominance Weakens
Exciting times are brewing for altcoins, including LUNC, as Bitcoin's dominance wanes. Over the past few months, Bitcoin's grip on the cryptocurrency market has been steadily loosening. This downtrend is currently testing a key resistance level. If this resistance holds, as many analysts predict, Bitcoin is likely to experience another downward swing.
This potential decline in Bitcoin dominance presents a significant opportunity for altcoins like LUNC. Historically, when Bitcoin weakens, altcoins tend to flourish. This phenomenon is often referred to as "alt season," a period of strong growth for alternative cryptocurrencies.
While future market movements are always uncertain, the weakening dominance of Bitcoin paints a bullish picture for LUNC. This could be the catalyst LUNC needs to reignite its potential and experience a significant price increase.
Positive Sentiment for LUNC Investors
For LUNC investors, this news is a welcome sign. The potential for an altcoin season fueled by Bitcoin's decline could lead to substantial gains for LUNC. With Bitcoin dominance on the ropes, LUNC is poised to potentially break out and reclaim its position in the market.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please do your own research before making any investment decisions.
#TerraNetwork #ustcrepeg

USTC staking has emerged as a significant topic in the cryptocurrency world, particularly within the Terra Classic ecosystem. With the recent surge in USTC, the LUNC staking APR has experienced an upswing, attracting attention from investors and traders alike. This article aims to provide a comprehensive overview of USTC staking, its benefits, and its impact on the Terra Classic ecosystem.
USTC staking is the process of holding USTC tokens in a wallet to support the Terra Classic network. By staking USTC, users can earn staking rewards, which are typically paid out in USTC and LUNC. This process helps regulate and validate transactions on the Terra Classic blockchain, contributing to the overall stability of the network.
The surge in USTC has led to an increase in the APR on staking for LUNC, creating a buzz within the cryptocurrency realm. The higher APR on staking is primarily due to the passive income benefits that staking offers. As of recent data, the APR on staking for USTC is currently valued at 22.75%, with rewards including USTC and LUNC.
Benefits of USTC Staking:
Passive Income: Staking USTC allows users to earn passive income through staking rewards, which can be a significant incentive for investors and traders.Network Stability: Staking USTC helps regulate and validate transactions on the Terra Classic blockchain, contributing to the overall stability of the network.Diversification: Staking USTC can be a way for investors to diversify their crypto portfolio, as it provides exposure to both USTC and LUNC.
Impact on USTC and LUNC Prices:
The surge in USTC has also led to a significant increase in the prices of both USTC and LUNC. Over the past month, USTC has noted a 371% surge, reaching a high of $0.07324, while LUNC has seen a 88.17% surge, reaching a high of $0.0001241.
Terra Classic community members are mulling a revival of the network's failed terraUSD (USTC) token, which was a stablecoin backed by a basket of assets like LUNA and BTC. The proposed revival model includes token buybacks, unidirectional swaps, staking, and an "algorithmic peg divergence fee" to address the issues with the original design.
USTC staking is a crucial aspect of the Terra Classic ecosystem, providing passive income opportunities, network stability, and potential price appreciation. As the Terra Classic community continues to explore ways to revive USTC, the potential of USTC staking remains an exciting prospect for investors and traders alike.
#TerraEcosystem #ustcrepeg

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Over the past 24 hours, Terra Luna Classic (LUNC) has experienced a 3% decrease in price, falling to $0.00005928, positioning the altcoin in the 100th spot in the cryptocurrency market cap rankings.LUNC has also seen a 3.5% decline in the past week, although it has recorded a 3% increase in the last 14 days. Despite this short-term improvement, it still exhibits a 1% decline over the course of a month and a significant 81% decline over the past year.
These continuous declines indicate a sustained downward trend affecting LUNC in 2023. The coin’s community has encountered challenges in driving both its price and that of its associated stablecoin, USTC, higher.
This suggests that LUNC may continue to experience further declines in the near future. However, if substantial actions are taken to enhance its ecosystem and price, there remains potential for a potential rally in the future.
Following its participation in the market’s rebound on Monday, LUNC is currently undergoing another downturn, with its technical indicators reflecting this shift accordingly.

Source: TradingView
The relative strength index (RSI) of LUNC, which was previously at 60 just a few days ago, has now dropped to nearly 40, and there’s potential for it to continue declining before the coin reaches oversold conditions relative to recent price movements.
Another indicator signaling weakness is LUNC’s 30-day moving average (represented in yellow), which is struggling to recover, despite appearing to stabilize over the past week. Furthermore, this average remains well below the coin’s longer-term 200-day average (shown in blue).
These indicators raise concerns, and it will be crucial to observe whether LUNC’s present short-term support level (indicated in green) can withstand a decline below $0.0000590. If it does break below this level, it may signal further declines, which are already hinted at by the consistent decline of LUNC’s longer-term support level throughout the year.
It appears that the broader market has lost interest in LUNC, as evidenced by several governance proposals that have failed to significantly impact its price in recent weeks and months.
The most recent proposal within Terra Luna Classic pertains to funding an experienced team of developers. Their mission is to implement a comprehensive roadmap of improvements aimed at bringing value to the Terra Classic blockchain and propelling it to its rightful place within the ecosystem.
However, it has come to light that many crucial validators and community members are voting against this proposal, with some contending that it lacks realism.
This development is noteworthy because when active participants in the community question the feasibility of such plans, it prompts an external observer to ponder the future prospects of Terra Luna Classic (LUNC).
From a pessimistic standpoint, the outlook may appear bleak.
Nevertheless, there is a silver lining in witnessing sincere discussions about how to rejuvenate Terra Luna Classic, which suggests that it might be premature to conclude that all hope is lost.
For the time being, it is plausible that LUNC may continue its descent over the next few months unless a concrete plan is set in motion.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#CryptoNews #TerraLunaClassic #LUNC #ustcrepeg #TerraClassic