The game-tested Terra Luna Classic (LUNC) just received a strong bullish impulse for an uncanny reason. LUNC, the original token behind the Terra Luna blockchain that was split into two parts back in May, 2022, ended up on a t-shirt rocked by one of CoinDesk’s Journalists in this year’s edition of Binance Blockchain Week.
Luna Classic Drip In Dubai Sparks Humongous Rally
This has sparked immediate excitement from the Luna Classic community, while LUNC’s price reacted with a 46.4% daily uptick. With the broader markets trading sideways this Friday, this crowns Luna Classic (LUNC) the top gainer of the day after months of downward slope.
Reporter Ian Allison sparked a viral trend with some crypto aficionados even checking out Luna Classic t-shirts from AliExpress, but the public recognition in Dubai also reveals something else. In the crypto market’s trials & tribulations since 2022, LUNC has led an example of recovery building up from the ground up, but the altcoin’s price hasn’t always reflected this.
Since the Layer-1 chain’s community distanced themselves from TerraForm Labs, the bankrupt tech giant’s creation was left in the volunteer developer’s hands. Over a few years, the Terra Luna Classic (LUNC) community restored some chain functionality, like staking & DeFi interoperability.
LUNC Price Burst Out With 60% Gains, More To Come?
Most notably, the LUNC community is mostly known for burns, deflating the over-minted altcoin.
Binance, the largest crypto exchange across the globe, accounts for 55% of overall LUNC burns, while Terra Luna Classic’s community is negotiating with several other major exchanges to adopt a LUNC burn mechanism as well.
Presently, Terra Luna Classic is priced at $0.00004389, whipping up 60.7% gains in a 24-hour timeframe. Should this magnificent rebound strike carry on, the battle-scared altcoin has a clean path to restore the October heights of $0.00004735.
Meanwhile, the top gainer status among TOP 300 biggest crypto currencies by market cap has pushed LUNC’s trading volume on Spot markets beyond $160 million. The volume is up 1,300%, or roughly 13 times from the daily average of $12 million since Terra Luna Classic’s V 3.6.0 fork upgrade.
The V 3.6.0 restored full compatibility within the Cosmos ecosystem, but the upgrade has briefly pushed some validator nodes to the sidelines. Trading volumes on Spot soaked up the setback, while the plans to repair Terra Classic USD (USTC) have remained the main LUNC community focus so far this year.
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People Also Ask:
Massive volume, December 8 upgrade hype & CoinDesk’s Ian Allison wearing a LUNC t-shirt on the Binance Blockchain Week main stage next to Mastercard and Ripple execs.
The same journalist who broke the UST collapse story in 2022 just publicly wore a LUNA shirt in Dubai—pure redemption symbolism and instant FOMO rocket fuel.
849 million Terra Classic coins torched in the past week, 83 million yesterday alone—the 1.2% tax is working overtime & overall exchange supply is shrinking fast.
v3.6.0 confirmation hard fork that reactivates the Market Module for swaps and liquidity, turns on full IBC v2, and aligns with newer Cosmos SDK. Binance already confirmed support.
Daily RSI shot from 30 to 70 in hours, volume up 1,300% from yesterday, open interest up 45%, and LUNC price flipped the 50 EMA at $0.000038 into new support.
