Terra Classic (LUNC) Exhibits the Bullish ‘Red-Hot’ Spike of the Week
- At press time, LUNC garnered over 8.68 million tweets on Twitter.
- In the past 24 hours, the trading volume of Terra Classic (LUNC) shot up 639%.
- On June 4, LUNC volume climbed to $1.625 trillion on Binance.
Terra Classic (LUNC) reawakens in trend and marks a change in its trajectory in the crypto market. Remarkably, the 30% surge by LUNC on Sunday initiated the community’s bullish hype. Besides this, the cryptocurrency attained the max peak in terms of its 24-hour trading volume in the past four months.
On June 3, the 24-hour volume of LUNC was $14,592,381 and at the time of writing, it was $421,210,647. This highlighted the fact that LUNC staged a 28.8 times spike. Astoundingly, in the last 24 hours, the token’s 24-hour trading volume jumped 639%.
At press time, Crypto Twitter displayed the steaming trend of Terra Classic — #LunaClassic with 3.38 million tweets and LUNC with 8.68 million tweets.
As per the data from TradingView, the price of LUNC rose above the 50-day moving average (50MA), confirming its entry into the bull zone. On the hand, the crypto’s relative strength index (RSI) marked its foray into the overbought state. But at press time, RSI descended into the neutral zone.
Triggers of Terra Luna Classic Bulls
Just when the announcement of the v2.1.0 upgrade proposal flooded the space, LUNC spiked more than 30% – from $0.00008415 to $0.0001124. From then, this speculative altcoin attempts to sustain the rally. Significantly, the proposal is likely to go up for voting on June 7.
Furthermore, one more event that is on the Luna Community’s radar is the LUNC burn on Binance. Last Thursday, 1,044,105,202 LUNC, wired from users’ trading fees, was burnt. For the next burn cycle, the 30-day time frame — from May 31 to June 29 — is fixed as the duration for calculating the LUNC trading fees to be burnt on July 1, 2023.
However, the crypto exchange had announced to delist LUNC’s perpetual contract from June 8. Despite the negative turn, the Luna Classic community still upholds the anticipation of LUNC hitting $1 in 2023.
According to CoinMarketCap, at press time, Terra Classic (LUNC) traded at $0.0001011, exhibiting a 13.43% surge.
Disclaimer: The views expressed in this article are for informational purposes only and do not necessarily reflect the opinions of TheNewsCrypto. The content provided should not be considered investment advice.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
