Terra Classic’s LUNC price sees a spike, but can this momentum carry on?
- LUNC investors are embracing the token as it has finally gained some upwards momentum.
- The cryptocurrency saw a 182% seven-day growth, which made it a top gainer throughout the week.
- LUNC has the potential to keep up this momentum, but how far can it climb?
Terra Classic is a hard fork that occurs at a point in time when a blockchain splits and creates two separate networks.
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Do Kwon, the CEO of Terraform Labs, urged the hard fork on Terra (LUNA) to revive the network, where UST was completely disregarded in the ecosystem, and Terra will no longer include any algorithmic stablecoin components.
On August 26, 2022, LUNA had a value of $0.00012. On September 1, it spiked to $0.0003392, which marks an increase in value of $0.0002192 or 182%.
This recent spike in value has been backed by massive volume, which validates the uptrend and increases the chances of LUNC keeping up this momentum going forward.
As of September 1, the trading volume of Terra Classic increased 61% in the last 24 hours.
On August 29, 2022, Terra also announced on Twitter that they are rolling out the new Governance Alert Bot, which will alert users on the latest governance activities occurring on top of Terra.
Should you buy Terra Classic (LUNC)?
On September 2, 2022, Terra Classic (LUNC) had a value of $0.00026496.
The all-time high of the Terra Classic (LUNC) cryptocurrency was on April 5, 2022, when it reached a value of $119.18.
When we go over its performance in August, Terra Classic (LUNC) had its lowest point of value on August 20 at $0.00008664. Its highest point of value was on August 31 at $0.0002183.
Here we can see that Terra Classic (LUNC) increased in value by $0.00013166 or 152%.
With this in mind, investors might want to buy LUNC, as it can increase in value to $0.0004 by the end of September 2022.