LUNC Fix Inks 50% Gains as Critical Market Function Returns

The game-tested LUNC emerges as top gainer of the day, posting 50% gains after a far-reaching function is restored.

Skinny guy flexing his muscles wearing full on Terra Luna merch.
Created by Gabor Kovacs from DailyCoin
  • Terra Classic blockchain restores a part of pre-depeg functionality.
  • Terra chain’s USTC stablecoin was shredded to pieces in May 2022.
  • LUNC reclaims confluent resistance floor unseen since July 2023.

The embattled Terra Luna Classic community continues to make huge strides toward Terra Classic revitalization. Terra Classic community members are rejoicing over a restored fundamental blockchain function, resulting in the hugest daily rally for $LUNC this year.

Gaining 50% in the last 24 hours, $LUNC has successfully picked up on Bitcoin’s $38,000 retest. Besides, the high price correlation with the leading digital asset coincides with restoring the market swap function, which was disabled right after the Terra Luna fiasco in May 2022.

Terra Classic Finally Restores Market Swap

Terra Classic community’s long-awaited market swap function on TFL Terra Station is available again. Initially, the market swap option to swap between Terra Classic USD (USTC) and Terra Luna Classic on-chain was used to provide liquidity while enabling builders and traders to have an interoperable environment within Terra’s chain.


Naturally, the depegging of USTC has burned down the market swap functionality. Since then, gradual progress has been made by several volunteer developers on-chain, while both Layer-1 Joint Task Force (L1JTF) and the USTC Quant Team have been searching for ways to onboard major crypto exchanges Terra’s revitalization plan and the restoration of USTC’s $1 peg.

On the Flipside

  • The conversion of crypto to fiat is still not functional on TFL Terra Station, as the conversion rates show wrong values.

Why This Matters

The Terra Classic community is collectively striving towards restoring a once-thriving blockchain.

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Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.