Terra Classic

TerraClassicUSD

Recently, Terra Classic (LUNC) surprised investors with double-digit gains, causing excitement in the market. Alongside this surge, its trading volume also soared, indicating increased activity and interest from traders.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Add-a-heading.png?fit&#61;900%2C300&amp;ssl&#61;1" />Cryptos Headlines Platform Has Launched Its Native Token, Early Public Sale Is Live On <a href="https://cryptosheadlinestoken.com/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a>At the same time, the LUNC community is gearing up to submit a proposal that could significantly influence both the blockchain and its token.<h3 id="terra-classic-lunc-market-analysis">Terra Classic (LUNC) Market Analysis</h3>CoinMarketCap’s <a href="https://cryptosheadlines.com/on-chain-data-indicates-xrp-bulls-are-emerging/" rel="noopener noreferrer nofollow">data indicates</a> that LUNC experienced a notable surge in the last 24 hours, with a price increase of over 10%. Simultaneously, its <a href="https://cryptosheadlines.com/coinbase-trading-volume-soars-while-coin-stock-rallies-post-binance-settlement/" rel="noopener noreferrer nofollow">trading volume soared</a> by more than 700%.It’s commonly observed that significant price changes are often preceded by <a href="https://cryptosheadlines.com/significant-spike-in-lunc-and-luna-trading-volumes-pre-terra-classic-core-upgrade/" rel="noopener noreferrer nofollow">spikes in trading volume</a>, indicating heightened market interest. This suggests that the current upward trend in LUNC’s price may persist for a longer duration.<a href="https://cryptosheadlines.com/luna-price-rally-can-terra-classic-bulls-sustain-momentum-post-upgrade/" rel="noopener noreferrer nofollow">Terra Classic’s one-week price volatility gained momentum</a> following a sharp decline. Moreover, its social volume spiked in the past few days, indicating increased attention and activity surrounding the token.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/cryptosheadlines003-4.webp?resize&#61;640%2C218&amp;ssl&#61;1" />Source: Santiment<h3 id="sentiment-analysis-and-derivatives-market">Sentiment Analysis and Derivatives Market</h3>The <a href="https://cryptosheadlines.com/matic-price-targets-1-amid-bullish-sentiment-20-jump-expected/" rel="noopener noreferrer nofollow">price uptrend contributed to a rise in bullish sentiment</a> around LUNC, as reflected in its Weighted Sentiment. Additionally, the <a href="https://cryptosheadlines.com/first-time-in-years-federal-reserve-raises-fed-funds-rate-above-5/" rel="noopener noreferrer nofollow">Funding Rate</a> for LUNC was high, indicating active buying by derivatives investors at higher prices. However, a concerning metric was observed in the form of declining Open Interest <a href="https://cryptosheadlines.com/shiba-inu-shib-price-surges-despite-sell-off-sustainability-questioned/" rel="noopener noreferrer nofollow">despite the price surge</a>.A decrease in Open Interest typically signals rising possibilities of a trend reversal, posing a cautious note amidst LUNC’s recent price hike.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/cryptosheadlines002-3.webp?resize&#61;640%2C218&amp;ssl&#61;1" />Source: SantimentUpon examining LUNC’s 4-hour chart, <a href="https://cryptosheadlines.com/creator-of-terra-classic-reveals-new-chain-of-smart-apps-powered-by-ai/" rel="noopener noreferrer nofollow">Terra Classic’s MACD revealed</a> a significant bullish advantage in the market, suggesting a sustained uptrend in price.<a href="https://cryptosheadlines.com/solana-sol-drops-below-100-due-to-market-turbulence/" rel="noopener noreferrer nofollow">Also Read: Solana (SOL) Drops Below $100 Due to Market Turbulence</a>However, other metrics presented a <a href="https://cryptosheadlines.com/bnbs-resistance-struggle-analysts-bearish-outlook-amid-market-challenges/" rel="noopener noreferrer nofollow">bearish outlook</a>, indicating a potential reversal in the trend. Notably, the Relative Strength Index (RSI) experienced a sharp downturn from the overbought zone and was continuing to trend downwards at the time of observation.Similarly, LUNC’s Chaikin Money Flow (CMF) followed a similar declining trend, signaling a possible conclusion to the token’s bullish rally.<img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/cryptosheadlines004.webp?resize&#61;640%2C294&amp;ssl&#61;1" />Source: TradingView<h3 id="proposal-for-terra-classic-lunc-security-enhancement">Proposal for Terra Classic (LUNC) Security Enhancement</h3>Blockchain security expert Coach Bruce Wrangler recently shared a tweet unveiling a new proposal aimed at addressing key issues within Terra Classic (LUNC).The proposal highlights the necessity to swiftly <a href="https://cryptosheadlines.com/terra-luna-classic-proposal-to-burn-800m-ustc-officially-passes-lunc-price-surges/" rel="noopener noreferrer nofollow">burn through LUNC supply to stimulate significant price</a> appreciation. Additionally, it addresses concerns regarding manipulation by anonymous bad actors, such as scammers, plaguing the token.<h3 id="impact-of-proposal-implementation">Impact of Proposal Implementation</h3>If approved, the proposal could swiftly eliminate 99% of bad actors, bolstering blockchain security. Furthermore, it plans to burn an estimated 50% of the token supply within 90 days, <a href="https://cryptosheadlines.com/upcoming-unlock-of-196-million-blur-tokens-potential-price-crash-ahead/" rel="noopener noreferrer nofollow">potentially positively impacting the token’s price</a> action in the subsequent months.As per LUNC Metrics, a total of 97.98 <a href="https://cryptosheadlines.com/binance-lunc-burn-down-43-terra-classic-burn-below-1-billion/" rel="noopener noreferrer nofollow">billion LUNCs have been burned</a> to date, reflecting ongoing efforts to enhance tokenomics and security measures.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

LUNC Price Jumps 10% in 24 Hours; Reversal Predictions Loom

Table of Contents

CryptosHeadlines.com

Other articles published on Feb 4, 2024

Emerging Crypto Opportunities: Rebel Satoshi and Frax Share Drawing New Investor Interest

Elon Musk Fuels Dogecoin Speculation With Recent Move

AI Predicts Best and Worst Case Scenarios for Bitcoin (BTC) Price in February

Artists face $9m penalty in Yuga Labs, Bored Ape copyright lawsuit

Alphabet’s AI Ambitions Shine Amid Earnings Miss

New Polygon (MATIC) Rival Zooms 300% in Less than 2 Months, What is Fueling the Rally?

Join our free newsletter for daily crypto updates!