Terra Classic (LUNC) is a cryptocurrency project that aims to create a stable and scalable global payment system using fiat pegged stablecoins. It uses an algorithm to adjust the supply of stablecoins according to their demand. It also rewards LUNC holders for participating in the process.

It has partnered with several payment platforms, especially in Asia, to facilitate e-commerce transactions using its blockchain network. Terra Claasic’s block chain is secured by a proof of stake mechanism on Tendermint, and has passed a security audit by CertiKCertiK

price was facing continuous selloff in the recent sessions. The recent price declined by 39% over the past two weeks. The price is heading towards the 50-day EMA which might halt the further price decline.

Moreover, the weekly chart shows a bull trap formation as the price surged over 200% in the last week of November and 1st week of December. Thereafter, the price lost over half of the gains and is still declining#ETH #BTC #TRB $BTC