Terra Classic ($LUNC
) has struggled to maintain prices throughout 2024. Various measures have been implemented to stabilize LUNC’s prices — most notably, token burns aimed at reducing supply and thus increasing value.
Given that the wider cryptocurrency market has entered a full-blown bull run — many traders are anticipating the start of the long-awaited altcoin season. Some are speculating that the wider surge, coupled with a decreasing supply, could lead LUNC to experience significant moves to the upside — especially taking into consideration its performance over the last month.
LUNC was trading at a price of $0.0001225 at press time, after a 5.22% gain on the daily chart supplemented weekly returns to 8.82%, bringing returns over the last 30 days up to 32.68%. On a year-to-date (YTD) basis, prices are still down 11.61%.
Based on the recent positive price action for Terra Classic, Finbold has consulted some of the most powerful publicly available large-language models to provide additional context into the situation.