Where do you think $LUNC will move ?đđ
Either Bullish, Or Bearish, Or Remain Constant?
Letâs dive into some recent developments related to Terra Luna Classic (LUNC) that might be fueling the hype in the crypto community:
1. Binance Perpetuals Listing and Price Surge:đ°
- TerraClassicUSD ( $USTC ) and its sister token Terra $LUNA classic (LUNC) have seen significant price increases recently.
- Binance, the worldâs largest crypto exchange, started offering perpetual contracts for USTC with up to 50x leverage, which likely contributed to the rally.
- LUNC has surged approximately 60% this week, including a nearly 20% rise in the past 24 hours.
- USTC has almost quadrupled in price, although itâs still far from its original peg of $11.
2. Bitcoin-Focused Revamp and Airdrop Plan:đ”
- Anticipation is growing around a USTC revamp plan that would use Bitcoin (BTC) as a foundation.
- The developer team is working on an airdrop plan for USTC and LUNC holders, adding to the speculative frenzy.
- Mint Cash, a Bitcoin-focused payment project, has outlined a vision for a successor to Terraâs failed stablecoin, this time collateralized by BTC to mint tokens1.
3. Background on Terra Luna Classic:đ”đ
- LUNC and USTC are remnants of the once-huge, failed Terra ecosystem.
- Terraform Labs developed this ecosystem, but it collapsed spectacularly last May due to unsustainable design.
- USTC was an algorithmic stablecoin, while LUNC (then named LUNA) balanced the stablecoin at a $1 peg.
- The recent surge represents a revival attempt for these tokens, driven by new listings and plans1.
Remember, crypto markets can be volatile, and these developments are subject to change. Always do your own research and consider the risks before making any investment decisions! đđ
