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🌖 Terra Luna Classic Defies TOP 100 Fallout with 35% Surge
#TerraLunaClassic (#LUNC. ) recently surged by 35%, signaling a potential comeback despite trading below $0.0002. Its market capitalization is nearing $1 billion, hitting a 3-month high of $1.32 billion on March 5, 2024.
The surge is attributed to the release of Terra chain's co-founder, #DoKwon , from prison in Montenegro, coinciding with upcoming events like the TerraForm Labs' hearing with the U.S. SEC on March 25.
A significant blockchain upgrade introducing new functionalities by Genuine #labs is scheduled for today, promising enhanced scalability for decentralized applications, notably benefiting EnterpriseDAO.
Technical indicators support the bullish momentum, with $LUNC breaking through support levels.
Derivatives activity surged, with the 1000LUNC smart contract seeing a 38% daily spike to $199.06M. Binance users show strong bullish sentiment, with long positions outnumbering shorts significantly.
