Terra Luna Classic (LUNC), which was rebranded from Terra (LUNA) after its 2022 crash, outshined top 100 crypto assets by market capitalization on May 27.
LUNC price surged over 12% by over the past 24 hours, trading around $0.000091 at press time. As such, its market cap climbed to around $510 million, while its average daily trading volume edged up 222% to $100 million at the time of publication.
Terra Classic price, which has surged over 120% year-to-date (YTD), outshined the wider top 100 crypto assets, led by Bitcoin (BTC). Moreover, LUNC price has risen by 18% over the past seven days. Meanwhile, its closest challenger was Internet Computer (ICP), which recorded growth of 7.5% and 14.5% over 24 hours and 7 days, respectively.
The main reason Terra Classic maintained its bullish sentiment while the wider top crypto assets experienced selling pressure was its improved ecosystem. For instance, over the past 24 hours, nearly 173 million LUNC were burned, and more than 928 million tokens were staked, thereby reducing its circulating supply, according to data from luncommunity.
As of reporting time, over 893 billion tokens, accounting for 13.83% of the total supply, had been staked. Historically, a rising number of staked tokens amid increased burns has yielded a bullish outlook.
What’s next for Terra Classic price?
Amid the rising bullish sentiment for Terra Classic, Finbold AI Agent, an advanced financial assistant that leverages multiple AI models, signaled a potential correction in June.
The Finbold AI Agent predicted that the LUNC price could fall by over 34% by June 30, revisiting $0.0000606. However, if the wider crypto market experiences bullish sentiment, potentially driven by renewed FOMO (fear of missing out), the AI’s bearish prediction could be invalidated, and vice versa.
