Skip to content

Terra Classic leads 7-day gains amid crypto market crash

Terra Classic leads 7-day gains amid crypto market crash

The cryptocurrency market has been gripped by tension and a surge of selling pressure following the Securities and Exchange Commission’s (SEC) recent lawsuits targeting leading platforms Binance and Coinbase. These legal actions have had a profound impact on investor sentiment, as uncertainty looms over the future of these prominent exchanges and dozens of altcoins that the regulator labeled as unregistered securities.

However, amid the prevailing market pressure, Terra Classic (LUNC) has showcased remarkable resilience, emerging as the top performer among the 100 leading cryptocurrencies in terms of price gains during the past week.

In the last 7 days, LUNC rose more than 4.49% and is among the only 2 top-100 crypto assets that saw their price increase during that period, with the other one being Maker (MKR). 

7-day gains of top 100 cryptocurrencies. Source: CoinMarketCap

At press time on June 15, Terra Classic was trading at $0.0000968, up 0.73% in the past 24 hours.

LUNC 1-day price chart. Source: Finbold

Over the past month, LUNC gained over 6.7%, experiencing a volatile range from $0.0000835 to $0.000112. 

Why is Terra Classic (LUNC) rising?

LUNC’s vigor and surge likely stem from the Terra Luna Classic community’s recent efforts to prop up the cryptocurrency’s price.

Namely, on June 14, the biggest parity upgrade went live on the Terra Classic blockchain, bringing a variety of new features that were well received by the LUNC community.

Primarily, the upgrade brings Terra Classic to parity with Terra 2.0 and other Cosmos chains, and multiple security updates meant to improve the network’s reliability. In addition, it also brings the new WasmVM update, which introduced the multichain capability for smart contracts.

Binance, the world’s biggest crypto exchange, announced it will support Terra Classic’s latest v2.1.1 upgrade, leading to a temporary halt in deposits and withdrawals of LUNC. The exchange will reopen deposits and withdrawals once the blockchain returns to balance following the update.  

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.