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This week, Terraform Labs’ Terra Luna Classic (<a href="https://www.coingecko.com/en/coins/terra-luna-classic" target="_blank" rel="noopener noreferrer nofollow">LUNC</a>) and TerraClassicUSD (<a href="https://www.coingecko.com/en/coins/terraclassicusd" target="_blank" rel="noopener noreferrer nofollow">USTC</a>) have recorded gains of over 130% and 235%, respectively.&nbsp;&nbsp;
Recall that Terraform Labs, the web3 project in charge of the Terra Luna Classic (LUNC) and TerraClassicUSD (USTC) altcoins, strategically <a href="https://crypto.news/luna-lunc-ustc-surge-as-social-activity-skyrockets-after-key-update/" rel="noopener noreferrer nofollow">deployed</a> $10 million worth of assets across three distinct liquidity pools in November.&nbsp;
This move laid the groundwork for the bullish momentum experienced by USTC and LUNC, demonstrating the profound impact strategic maneuvers can have on the crypto landscape.
You might also like: <a href="https://crypto.news/terra-classic-to-stop-minting-ustc-trying-to-achieve-repeg/" rel="noopener noreferrer nofollow"> Terra Classic to stop minting USTC trying to achieve repeg </a>
<h2 class="wp-block-heading" id="crypto-analysts-comments">Crypto analysts comments&nbsp;</h2>
Adding a layer to the narrative, a popular crypto YouTube channel recently <a href="https://crypto.news/will-ustc-stay-bullish-analyst-weighs-in/" rel="noopener noreferrer nofollow">featured</a> an analyst providing a nuanced perspective on USTC’s current trajectory.&nbsp;
Despite USTC’s impressive climb from under $0.03 to over $0.05, the analyst issued a cautionary note, pointing to emerging weakness in Luna Classic (LUNC) as a potential harbinger of trouble for USTC.&nbsp;
USTC started the week on a strong note, surging by an astounding 300% following <a href="https://www.binance.com/en/support/announcement/binance-futures-will-launch-usd%E2%93%A2-m-ustc-perpetual-contract-with-up-to-50x-leverage-91deccb2e146483383617db8b8fcaba1" target="_blank" rel="noopener noreferrer nofollow">Binance’s announcement</a> of the launch of USTC perpetual contracts. Exchanging hands for $0.066 at the time of writing this report, USTC has experienced a 235% price increase in the past seven days, with a circulating supply of 9 billion USTC. This surge reflects the market’s response to strategic developments and key announcements.
<h2 class="wp-block-heading" id="lunc-s-burn-mechanism-triggers-rally">LUNC’s burn mechanism triggers rally</h2>
On the other side of the spectrum, LUNC has witnessed a significant price increase of 130% within the same timeframe.&nbsp;
Binance’s recent <a href="https://www.binance.com/en/support/announcement/binance-to-make-changes-to-the-burning-of-terra-classic-lunc-trading-fees-4769eab576c4479eaa14adc1eb587226" target="_blank" rel="noopener noreferrer nofollow">burning</a> of 3,903,522,969.89 LUNC tokens, representing trading fees from Oct. 31 to Nov. 29, contributed to this surge. The evolution of LUNC’s burn mechanism, initially set at 100% and later adjusted to 50%, adds an interesting layer to its recent price dynamics.
You might also like: <a href="https://crypto.news/lunc-developers-submit-proposal-for-liquid-staking-on-quicksilver/" rel="noopener noreferrer nofollow"> LUNC developers submit proposal for liquid staking on Quicksilver </a>
While USTC and LUNC showcase remarkable growth, the broader crypto market is also in the green. At the time of writing, Bitcoin’s (<a href="https://crypto.news/bitcoin-price/" rel="noopener noreferrer nofollow">BTC</a>) recent positive price movement toward the $40k mark has resulted in over 80% of holders being in <a href="https://twitter.com/intotheblock/status/1730563861479129176?t=ZQqnKXvFo7MOw_60QvKZ3Q&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">profit</a>, marking a significant milestone since December 2021.&nbsp;
At press time, the global cryptocurrency market capitalization stands at $1.56 trillion, representing a 1.9% increase in the last 24 hours, according to CoinGecko.&nbsp;
Read more: <a href="https://crypto.news/terra-community-proposes-lunc-and-ustc-recoupling/" rel="noopener noreferrer nofollow"> Terra Community proposes LUNC and USTC recoupling </a>

Terraform Labs’ strategic move fuels USTC and LUNC rally

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