Terra Luna Classic (LUNC) Surges 10% – Reasons Explained

Terra Do Kwon

The price of Terra Luna Classic (LUNC) has seen a sudden surge, increasing by more than 10%. This jump in price coincides with significant trading activity, with a trading volume of $30 billion recorded.

Late Thursday, the price of Terra Luna Classic (LUNC) experienced an unexpected increase, surging by more than 10% within the last 24 hours. This sudden movement came as a surprise to the Terra Luna Classic community, given that both LUNC and USTC prices had struggled to gain upward momentum despite recent important proposals and a chain update.



Terra Luna Classic Surges Over 10%

Terra Luna Classic witnessed a significant increase in trading volumes after approving two important proposals: “Asking Binance To Start Burning USTC” and “Stop Minting and Reminting of USTC.”

Trading volumes surged to $30 billion on Friday, marking a remarkable 200,000% increase in the past 24 hours. Some community members speculated that this sudden spike could be due to an over-the-counter (OTC) trade or a mistake originating from the Bitay exchange.

In the last 24 hours, there were significant short liquidations for both 1000LUNC and LUNC. For 1000LUNC, over $220,000 in shorts were liquidated, with the largest single liquidation of $103.59k occurring on Bybit. Additionally, LUNC experienced more than $40,000 in short liquidations during the same period.

The exact reasons for these sudden short liquidations are not clear, but it suggests that traders may be adopting a bullish stance on LUNC.

Centered JavaScript

LUNC and USTC Prices in the Last 24 Hours

In the past day, LUNC’s price increased by 12%, reaching a current trading value of $0.000061. During this period, the lowest and highest prices observed were $0.0000566 and $0.0000637, respectively.



Simultaneously, USTC’s price also saw a 2% rise in the past 24 hours, currently trading at $0.012. The lowest and highest prices recorded during this timeframe were $0.0121 and $0.0127, respectively.

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.

Join Cryptos Headlines Community

Follow Cryptos Headlines on Google News

Author

  • Salim

    "Salim is a news writer at CryptosHeadlines who creates excellent, well-optimized content to ensure user satisfaction. He is skilled in forecasting News About Cryptocurrency Market & blockchain Industry."

Leave a Reply

Your email address will not be published. Required fields are marked *