Home Altcoins News Terra Classic (LUNC) Sees Meteoric Surge Following Strategic Investments and Binance’s USTC Perpetual Contract Launch

Terra Classic (LUNC) Sees Meteoric Surge Following Strategic Investments and Binance’s USTC Perpetual Contract Launch


In an astonishing turn of events, Terra Classic (LUNC) has witnessed an unprecedented surge, marking a 60% increase in its price within a short span. This meteoric rise can be attributed to strategic moves orchestrated by Luna Classic Labs coupled with the introduction of Binance’s USD-M USTC Perpetual Contract, both sending shockwaves through the Terra ecosystem.

Luna Classic Labs, in a bid to fortify its treasury reserve policy, made a significant investment totaling 25.6 million USTC, approximately valued at $500,000. This maneuver, executed at an average purchase price of $0.021 per USTC, was articulated as an initial investment by Trader QT, a partner of Luna Classic Labs.

The impact of this investment was immediate and resounding. USTC prices surged by an impressive 100%, surpassing previous resistance levels. With investors pouring capital into USTC, a considerable uptick in liquidity and trading volumes was observed, laying the groundwork for an auspicious market scenario.

The anticipation and subsequent launch of the USD-M USTC Perpetual Contract on Binance Futures served as an accelerant to this already fiery trajectory. Experiencing a staggering 400% climb over two days, USTC prices soared, fostering an atmosphere of heightened optimism within the Terra ecosystem. The community echoed a sentiment of anticipation, contemplating whether the rally was presaged by some astute investors privy to upcoming developments.

Amidst these groundbreaking events, the value of LUNC experienced an impressive surge of 60%, currently trading at $0.00011. In the past 24 hours, its trading volume skyrocketed by a colossal 1120%, indicative of a fervent interest among traders.

The surge witnessed in the Terra Classic tokens over the last 48 hours isn’t an isolated incident but rather a testament to the resilient efforts within the Terra Luna Classic chain. The community-driven initiatives, from burning strategies to inter-blockchain communication (IBC), have consistently fueled the resurgence of LUNC’s value.

What sparked this recent surge? Luna Classic Labs made a bold move by acquiring 25.6 million USTC, amounting to approximately $500,000 as part of its treasury reserve policy. This strategic investment, made at an average price of $0.021 per USTC, marked a significant step forward. According to Trader QT, a partner of Luna Classic Labs, this is merely an initial foray into this endeavor.

This move triggered a remarkable 100% surge in USTC price, breaking through resistance levels and attracting a surge of investor interest. As investors poured into USTC, it set off a chain reaction, igniting an upward trajectory for Terra Classic (LUNC). Traders observed a substantial surge in liquidity and trading volumes, setting the stage for an eventful period for LUNC.

Binance Futures added fuel to the fire by announcing the launch of the USD-M USTC Perpetual Contract with leverage of up to 50x. This announcement acted as a catalyst, propelling USTC price to soar by nearly 400% in just two days. The community responded with heightened enthusiasm, while speculations arose about whether this surge was anticipated by some investors, given the sudden rallies in Terra ecosystem tokens.

Meanwhile, USTC prices, after hitting a high of $0.068, underwent a slight retraction, now settling at $0.055, albeit still showcasing a remarkable 191% increase within the same timeframe. The reduction in trading volume post-Binance’s USTC perpetual trading announcement signaled a momentary pause in the bullish run.

This recent surge in Terra Classic (LUNC) and USTC prices marks a significant turning point, underlining the dynamism and rapid evolution of the Terra ecosystem. It’s an amalgamation of strategic investments, market sentiment, and the introduction of innovative financial products that have collectively propelled this extraordinary rally.

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Maheen Hernandez

A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5

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