Cryptocurrency

Solana

Terra Classic

Terra

<div class="finbold">
 <p class="paragraph">Terra Classic (LUNC) is currently valued at $0.00009125, reflecting a substantial growth of 122.37% in the last month, with a noteworthy 24-hour trading volume of $372.6 million.</p>
 <div></div>
 <p class="paragraph">This price surge could potentially signal a revived interest from investors. However, there are debates surrounding the nature of the current increase in value: Is it a temporary spike or indicative of a sustained upward trajectory?</p>
 <p class="paragraph">LUNC is up 18.73% on the day with a $672.4 million market cap after adding around $330.7 million to its market cap in the last month.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/VBtSIxH135tsYstrMQl_dHO_rQDD697yfnCRF3GPnlSPd7aaRP5hrqL-N22iBAyyJUtzcjpjEU7Y34TXiw4WV_1use5wtLqVEwfq5vhBLTirBNhReDG0Vde7sijOUQEES85-T7UdP7KhVzavhpINz7g" alt>
  <figcaption class="wp-element-caption">
   LUNC 3 months price performance. Source: Finbold
  </figcaption>
 </figure>
 <p class="paragraph">The spike appears to be driven by the recent Terraform Labs investment of $15 million into the Terra ecosystem and a substantial reduction of LUNC tokens in circulation to 5.8 trillion, with about 78.2 billion tokens burned.</p>
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  <p class="paragraph">“TFL’s capital injection solves the cold start problem for the Terra ecosystem, providing ample liquidity for users” was posted on Terra’s official X account.&nbsp;</p>
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 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/_yVutHGymLIaohk44NWFDrox0p_twX6BckbU3iEaSOP_3_FDGsW8BUzdUpjUEqnNUZW24iRZtje4JUDNBTKv-7z62QUVi_AfwxN0Lsbjj0egVdd3FM4322QtZKLH7IUfEaL25nG2v-uEqp_lVL9qgsM" alt>
 </figure>
 <h2 class="wp-block-heading" id="h-technical-analysis"><strong>Technical Analysis</strong></h2>
 <p class="paragraph">LUNC is currently trading at $0.00009125, up 35.59% in the past 24 hours, and has had a strong uptrend since the capital injection.</p>
 <p class="paragraph">Meanwhile, the Relative Strength Index (RSI) indicator at the bottom is currently at 86.87, indicating that LUNA is overbought, according to <em>Kelvinmunene422</em> on TradingView.</p>
 <p class="paragraph">This means that the price of LUNC has risen too quickly and may be due for a correction. However, the RSI is still below 90, suggesting a mild correction.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/mvGH3JVrGgAvNmaEws4NqUoyx2y1v-1bw8ls5vn5ZwoYOayMeaKgsR1EJ8WUL60zVIWTwUZ9s4YtrgO_4UsRxsMMQ6tpDFdxRrUjxKKQBQniD-W71ALcamsWRShswPVXcj9EOisnhaB3J8VpoFPx7IA" alt>
  <figcaption class="wp-element-caption"><em>Analysis by Kelvinmunene422. Source: TradingView</em>
  </figcaption>
 </figure>
 <p class="paragraph">Investing in an emerging crypto asset could generate a high return on investment (ROI), but the risk of it crashing is also high. Nevertheless, it might benefit investors with a higher risk tolerance to allocate a small percentage of their portfolio to a riskier asset.&nbsp;</p>
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 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/is-now-a-good-time-to-buy-terra-classic-lunc-tbt72335.html">https://thebittimes.com/is-now-a-good-time-to-buy-terra-classic-lunc-tbt72335.html</a></p>

Is now a good time to buy Terra Classic (LUNC)?

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