Terra Classic Surges 18%, Achieves Highest Price Point Since November

Could LUNA and UST Comparisons Apply to MakerDAO's Endgame Tokenomics?

Following the FTX blowout in November of last year, Terra Classic (LUNC) dropped from the price territory at $0.0002 for the first time. The asset regained the price level today following an hour-long 15% price increase to a peak of $0.0002082.

Prominent LUNC influencer Classy highlighted the bullish momentum shortly after the asset achieved the feat. He remarked in a tweet today, sharing his excitement over the development.

Shortly after the asset attained the mark, prominent LUNC influencer Classy noted the uptrend. “LUNC just broke back into the 2’s for the first time in a while! LFG,” he wrote in a tweet today, expressing his delight at the development.

Read: Terra Classic Plan to Stop TGF From Paying Jacob Gadikian

The asset now maintains a 17.51% growth in the previous 24 hours when Bitcoin (BTC) and Ethereum (ETH) are down 1.40% and 1.5% within the same time frame. Despite minor resistance at the high of $0.0002082, LUNC’s positive momentum has not abated.

Terra Classic is also trading at a price above $0.0002, at $0.0002027. Currently focusing on the pre-FTX levels above $0.0003, which may be retaken if the bullish trend is maintained.

USTC Also Made a Move

TerraClassicUSD (USTC), currently up 63.87% over the past 24 hours, is simultaneously putting on another stunning solo rally. The asset’s price hike accelerated at this time, soaring by 67% in just 7 hours before hitting a bottleneck.

After dominating the $0.03 zone, the asset aims to maintain its position above that level. As of the time of writing, it is trading at $0.04005. USTC last experienced this price in October of last year.

Latest Updates From Terra Classic

These uprisings have come after several encouraging developments within the Terra Classic community. One of the major expectations among supporters is the upcoming launch of Terraport, which will include a dedicated LUNC decentralized exchange (DEX).

As stated previously, Terraport promises Terra Classic numerous advantages, including burning tokens during each transaction and contributing to the asset’s on-chain volume. According to the Whitepaper, 27% of weekly fees will be used to buy back and burn LUNC tokens. Additionally, the LUNC burn campaign continues to gain support, and new donors are joining.

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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