Terra Luna Classic (LUNC) price began to rise suddenly late on Thursday, gaining more than 10 percent in the last 24 hours. This move is surprising even for the Terra Luna Classic community, as LUNC and USTC prices have failed to gain upward momentum despite the recent significant bids and chain update.
Terra Luna price increased by more than 10 percent
Terra Luna Classic saw trading volumes soar after the community adopted two key recommendations: “Ask Binance to Start Burning USTC” and “Stop Mining and Reminding of USTC.”
CoinGape Media reported a nearly 450 percent increase in LUNC trading volumes even as Terra Classic ecosystem tokens remained under pressure amid a sell-off in the broader crypto market.
Transaction volumes reached $30 billion on Friday, increasing by more than 200,000 percent in the last 24 hours. Community members speculating about the sudden jump in trading volumes cited an over-the-counter (OTC) trade and an error from the Bitay exchange as the reason.
1000LUNC has seen over $220k in short selling in the last 24 hours. The largest single liquidation occurred on Bybit with $103.59 thousand. LUNC, on the other hand, recorded more than $40 thousand in short liquidity in the last 24 hours. The reasons behind the sudden liquidation of the shorts remain unclear, but traders are likely to be bullish on LUNC.
AWAY or USTC atlama
LUNC price rose 12 percent in the last 24 hours, the price is currently trading at $0.000061. The 24-hour low and high price are $0.0000566 and $0.0000637 respectively.
Meanwhile, USTC price has also increased by 2 percent in the last 24 hours and the price is currently trading at $0.012. The 24-hour low and high price are $0.0121 and $0.0127 respectively.
