LUNC DAO and Classy Crypto Worry Terra Luna Classic: Reason for LUNC and LUNA Price Drop
In the past 24 hours, the prices of Terra Classic (LUNC) and Terra (LUNA) dropped over 10%. The Terra Luna Classic community thinks this is because they said no to a big member, LUNC DAO, leading the chain, and an influencer, Classy Crypto, selling his validator to LUNC DAO.
But these might not be the actual reasons for the price drop.
Terra Luna Classic Price Drops in Wider Crypto Market Sell-off
Binance, a crypto exchange, made the market drop after saying it will stop its crypto payments service and focus on main things.
The Terra Luna Classic group didn’t agree to make LUNC DAO a leader and decide things for the chain. After LUNC and LUNA prices went down 10%, LUNC DAO said big holders are selling because the community didn’t follow him.
https://twitter.com/OX_DAO/status/1691558762413264967?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1691558762413264967%7Ctwgr%5Eb8620aa1ff3b9f7bcab31d5d2a0b7c95d18f94bc%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcoingape.com%2Fterra-classic-lunc-terra-luna-prices-crash-10%2F
Classy Crypto, who sold his Classy’s Sphere validator to LUNC DAO for $10k, said he didn’t sell all his LUNC coins. But he thinks LUNC DAO is selling LUNC coins.
At the same time, the people in the community who are loyal to the chain are buying LUNC coins when their price is low.
This is undeniable proof that OX DAO (Formerly known as $LUNC Dao) is trying to take over #LUNC by dumping the price. pic.twitter.com/kqtDdwIxbr
— Jesus Martinez (@0xJesusMartinez) August 15, 2023
Stablechen and LUNC DAO want to lead Terra Luna Classic, but the community is against it. The LUNC group is worried because big holders are selling, and this is causing the price to go down.
LUNC and LUNA Prices Crashed
Right now, the price of LUNC is $0.000069, going down 10% in the last 24 hours. During this time, it went as low as $0.0000646 and as high as $0.0000778. But the amount of trading happening went up by 150% in the last 24 hours.
The price of USTC also fell 8% in the past day, and right now, it’s at $0.014. The story about USTC going back to a certain value is losing its strength because things are uncertain.
At the same time, the price of Terra (LUNA) went down by over 10% in the last 24 hours, and it’s now at $0.49. But the amount of trading happening went up by 70% in the same time.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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