Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Africa’s green future lies in industrial cities

    May 25, 2025

    Africa’s green future lies in industrial cities

    May 25, 2025

    Africa’s green future lies in industrial cities

    May 25, 2025
    Facebook X (Twitter) Instagram
    Cryptify Now
    • Home
    • Features
      • Typography
      • Contact
      • View All On Demos
    • Typography
    • Buy Now
    X (Twitter) Instagram YouTube LinkedIn
    Cryptify Now
    You are at:Home » LUNC price bottoms as Terra LUNA Classic crosses milestone
    Crypto

    LUNC price bottoms as Terra LUNA Classic crosses milestone

    James WilsonBy James WilsonMarch 16, 2025No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    The Terra Luna Classic token is showing signs of bottoming after crashing by over 90% from its all-time high.

    Terra Luna Classic (LUNC) price has found strong support at $0.00005385, where it has failed to drop below since its inception. That is a sign that the coin may be on the cusp of a bullish breakout. 

    Potential catalyst for LUNC price

    LUNC is hitting a 406 billion token burn milestone. Data shows that the network incinerated over 280 million tokens in the last seven days, bringing the total tokens burned to 406 billion. 

    Over 336.2 billion LUNC tokens have moved to the burn wallet, while almost 70 billion of these coins have been burned on-chain. Most of these burns were from Terraform Labs, which a U.S. bankruptcy court ordered. 

    Binance, the biggest crypto exchange, has also been the most active LUNC burner in the industry. It has burned over 71 billion tokens in the past three years, and has consistently supported all of its upgrades. 

    Meanwhile, more LUNC holders are staking them. That’s an optimistic sign that, perhaps, the token will bounce back. The LUNC staking ratio has risen to 15.85%. That’s its highest level since Nov. 10, 2024.

    A high staking ratio, especially when a coin is falling, is a highly bullish sign. 

    LUNC price shows bottoming signs

    LUNC price bottoms as Terra LUNA Classic crosses a 406b milestone - 1
    Terra Luna Classic price chart | Source: crypto.news

    The weekly chart shows that the Terra LUNA Classic price dropped to a low of $0.000054 this month. This was a notable level as the coin failed to drop below it in July and September last year. It also failed to move below the price in 2024. 

    The last time LUNC’s price dropped below this level was in June 2022, when it dropped to a low of $0.00003440. This drop turned out to be a false breakdown, too. 

    Therefore, there is a likelihood that the Terra Luna Classic price has formed a quadruple bottom — a popular bullish reversal sign. A bullish breakout may see it jump to the next key resistance at $0.0001797, the highest swing in November last year.

    This price is about 180% above the current level. A drop below that support level will signal more downside to $0.000034. 

    LUNC’s history

    The LUNC token, originally known as the Luna token, was created by Do Kwon and Daniel Shin, co-founders of Terraform Labs.

    Terraform Labs was based in South Korea, and they launched the Luna token as part of the Terra blockchain ecosystem. The project aimed to create a stablecoin (TerraUSD, or UST) through an algorithmic mechanism tied to Luna. After the UST stablecoin de-pegged from the U.S. dollar in May 2022, the value of Luna (now LUNC after a rebranding) crashed. This led to a massive loss in value and the collapse of the Terra ecosystem.

    Afterward, a hard fork was created, leading to the introduction of Terra 2.0, and a new token was issued to replace the old one.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleHere’s why the Toncoin price surge may be short-lived
    Next Article Ancient8, Apu Apustaja surge over 100% as Bitcoin plunges to $82,400
    James Wilson

    Related Posts

    Demand outmints supply, who’s to blame?

    May 25, 2025

    Pi Network, Cetus, Optimism: Cryptocurrencies to watch

    May 25, 2025

    Break these ‘laws’ and you stay broke

    May 25, 2025
    Leave A Reply Cancel Reply

    Top Posts

    Remittix (RTX) hits $4m presale as XRP holders take notice

    February 4, 2025

    Here’s why OKB price spiked 20% today

    February 4, 2025

    iDEGEN price prediction: Is this the AI agent token to buy?

    February 4, 2025

    Gate.io to list CYBRO token on Dec 14 after $7M presale success

    February 4, 2025
    Don't Miss

    Africa’s green future lies in industrial cities

    By William GarciaMay 25, 2025

    … the African Inexperienced Industrialisation Initiative (AGII) present the strategic, coverage, and … Source link

    Africa’s green future lies in industrial cities

    May 25, 2025

    Africa’s green future lies in industrial cities

    May 25, 2025

    Africa’s green future lies in industrial cities

    May 25, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    Demo
    About Us
    About Us

    CryptifyNow: Your daily source for the latest insights, news, and analysis in the ever-evolving world of cryptocurrency.

    X (Twitter) Instagram YouTube LinkedIn
    Our Picks

    Africa’s green future lies in industrial cities

    May 25, 2025

    Africa’s green future lies in industrial cities

    May 25, 2025

    Africa’s green future lies in industrial cities

    May 25, 2025
    Lithosphere News Releases

    Colle AI’s iOS App Launch Brings Multichain NFT Creation to Mobile

    February 4, 2025

    AGII Transforms Web3 Infrastructure with AI-Optimized Smart Contracts

    February 4, 2025

    Colle AI (COLLE) Allocates $250M for AI Tool Development and Liquidity Growth on Solana

    February 4, 2025
    Copyright © 2025

    Type above and press Enter to search. Press Esc to cancel.