Can Terra Classic Make a Comeback After Falling 6.89% in the Past 30 Days?

Terra Classic (LUNC)

According to information from Coinmarketcap, Terra Classic (LUNC) has decreased 6.89% in July. The Terra community has begun to wonder whether LUNC can recover and ever reach $1 despite the Terra Classic (LUNC) price breakout’s stability, which points to possible positive price action for the token.

LUNC now has a CoinMarketCap ranking of 82, but the community is prepared for aggressive price movement when network developers execute big modifications. The bitcoin market is unpredictable and volatile, though, and that must be understood.

Related Reading: Binance Announces Support for Terra (LUNA) Phoenix Software Upgrade

Terra Classic Price Trends

Over the past 30 days, Terra Classic’s price has gradually decreased; at the start of the month, it was about $0.000087. The token increased on July 17 and hit a monthly high of $0.000094 before declining.

The price of LUNC has fluctuated significantly over the past month; at the time of writing, it is now worth 0.000081. Over the course of 30 days, this represents a decline of 6.89%. Terra Classic’s current 24-hour trading volume is $16,098,188. The last 24 hours have seen a 0.98% decline in Terra Classic.  

Terra Classic is down 6.89% in the past 30 days. Source: CoinMarketCap

Terra Classic’s Chance of Recovery

Despite tensions within the Terra Classic community, the ecosystem has experienced substantial growth over the past month. An amazing amount of 2.65 billion Terra Classic (LUNC) tokens were burned as part of Binance’s 11th burn, which is noteworthy. This burn happened in the middle of continuing arguments within the Terra Classic community caused by concerns regarding the project’s rejuvenation strategy.

The price of LUNC may recover and start to grow as a result of strategic events like the re-peg of USTC to $1 and the reopening of the ecosystem’s DeFi platform Terraport. Two more beneficial suggestions that can aid in the project’s resuscitation endeavor are burns and staking. This explains why Classy made the decision to use up his entire validator’s commission before the year was through. Despite the cryptocurrency’s steady slide, a turnaround is possible.

Read Also: Terra Classic Team Connects With Binance on USTC Re-peg, LUNC to $1?

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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