Terra Classic has been on a massive rebound in recent weeks. LUNC, the native token for the original Terra Luna blockchain, recorded a massive plunge in May after the depegging of the TerraUSD (UST) stablecoin and the resulting collapse of the Terra blockchain. Now, LUNC looks prime to make a comeback.
Terra Classic eyes 1000% gains
Over the past month, LUNC has gained more than 300%. At the time of writing, the token was trading at $0.000432, according to data from CoinGecko. The uptrend reported during the past month has been one of the highest since May’s volatility.
Despite this uptrend, there is the possibility that a pullback could be on the way, as seen in the cooling down of the uptrend. The recent uptrend comes amid intense buying pressure, but the buyer momentum could soon be exhausted because of the recession in the broader market.
Earlier this month, LUNC’s prices consolidated as the bears and bulls fought to have control of the market. Bulls seem to be winning, but the...
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