The number of Terra Luna Classic (LUNC) account holders has reached a record high of 5.5 million, prompting a 5% increase in both LUNC and USTC prices ahead of a significant upgrade.
Terra Luna Classic has achieved a milestone with 5.5 million holders of LUNC and USTC tokens. Although the growth rate is slower than after the Terra Luna crisis in 2022, the number of wallets holding these tokens is steadily increasing, largely thanks to support from exchanges like Binance.
Terra Luna Classic Hits Milestone with 5.5 Million Account Holders
According to data from the Cosmos blockchain explorer ATOMScan, the number of accounts holding LUNC and USTC tokens has reached a new high of 5.5 million. This increase marks a significant rise from the previous count of 5 million when the Terra Luna Classic community, supported by validators and developers, took initiative to revive the chain.
Notably, the number of Terra Classic accounts now exceeds that of top cryptocurrencies like Cardano and Shiba Inu. Recent reports indicate that the total number of wallets on the Cardano network has surpassed 4.6 million, while Shiba Inu has reached 1.38 million holders, as per data from Etherscan and ShibariumScan.
Despite the broader crypto market’s fluctuations, the rising number of Terra Luna Classic wallets suggests that many investors are holding onto their LUNC and USTC tokens, hoping for a price recovery during the ongoing bull market.
The Terra Luna Classic burn campaign, backed by crypto exchange Binance, has contributed to the surge in LUNC prices. Binance has burned a total of 53.48 billion LUNC tokens to date, with other exchanges and projects also participating in token burning initiatives to support the community and reduce token supply. Most recently, WEEX committed to burning LUNC tokens using trading fees from spot and futures trading pairs.
Terra Luna Classic (LUNC) and USTC Prices Experience Fluctuations
The price of LUNC has surged by 5% from its 24-hour low of $0.000123, a significant support level. Within the same timeframe, the low and high prices for LUNC were recorded at $0.000123 and $0.000134, respectively. However, there has been a notable 40% decrease in trading volume over the past 24 hours, signaling a decline in trader interest.
Total LUNC futures open interest (OI) has seen a notable increase of over 2% within 24 hours and 4% in the last 4 hours. Additionally, the quantity of 1000LUNC on Binance and Bybit has risen by 2% in recent hours. These developments coincide with the anticipation surrounding the upcoming major v2.4.2 upgrade, contributing to the current positive sentiment surrounding LUNC.
Similarly, the price of USTC has observed a 2% increase in the last 24 hours. Presently trading at $0.0259, USTC’s 24-hour low and high prices stand at $0.0243 and $0.0266, respectively. However, similar to LUNC, there has been a significant 40% decrease in trading volume over the past day.
Important: 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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