Terra Classic price prediction: LUNC is experiencing a significant surge driven by SEC settlement news, increased open interest, and positive technical indicators, indicating potential gains.
Terra Classic price forecast: LUNC has recently shown a significant surge in the cryptocurrency market. The LUNC price is currently at $0.0001207, reflecting an 8.45% increase over the past day. It hovered above $0.00012 on Friday, indicating a strong upward trend and renewed investor confidence.
Terra Classic Price Forecast: Market Optimism Drives Surge
The market capitalization of Terra Classic stands at $699.65 million, marking an 8% rise. Its 24-hour trading volume has surged by 273.87%, reaching $128.13 million, positioning LUNC at #66 in terms of volume. The volume-to-market cap ratio is 18% while the circulating supply holds at 5.79 trillion, with a total supply of 6.97 trillion.
Over the past week, LUNC price has been trading upward, with an 8% surge driven by increasing market optimism and renewed investor interest. Additionally, in the past month, this token experienced a steady rise of 15%, trading in a range of $0.0001 to $0.00012, reflecting a positive market sentiment.
SEC Settlement Sparks Interest in Terra Ecosystem Tokens
The Terra Classic tokens experienced a notable price surge following a tentative settlement between Terraform Labs (TFL), Do Kwon, and the U.S. Securities and Exchange Commission (SEC). This development comes after a jury found Kwon and his company guilty of deceiving investors of nearly $40 billion.
The agreement with the SEC has sparked significant interest in Terra ecosystem tokens. According to Coinglass data, the futures open interests for LUNC and 1000LUNC have jumped by 15% in the last 24 hours. This spike includes a 20% increase in open interest on Binance, indicating substantial buying activity by derivatives traders.
The Awesome Oscillator (AO) is presently at 0.00000850, suggesting a slight bullish momentum. The Chaikin Money Flow (CMF) stands at 0.01, indicating a marginal capital inflow into the asset, which might hint at a potential bullish trend if sustained.
