Terraform Labs’ TOP and LUNA The new cryptocurrency that changed its name after its collapse LUNC Unlike other altcoins, it has been bringing big gains in recent days.
Luna Classic has caught the attention of investors by gaining more than 45% in the last 7 days. The crypto community, on the other hand, is debating whether the LUNC token, which made 6x while all altcoins fell in August, will make a similar move again.
LUNC, which had fluctuated throughout November, started its rise in mid-December with support at the local low of $.1216. LUNC first broke through the intermediate resistance of $.1465 and hit the door for $.1855, having tried three times over the past 2 months.
However, the current outlook shows bears coming into play at .1855 main resistance. If LUNC fails to exceed this level, it may withdraw and move back to intermediate support.
With Ascension, Luna Classic’s market cap has again exceeded $1 billion.
Why is LUNC Rising?
A new development planned for the Luna ecosystem is the biggest reason for the rise in LUNC.
Proposal 11168 (Joint L1 Task Force) is up for voting. The discussion is ongoing and can be found here. https://t.co/w8LeyFE0QW
— Edward Kim (@edk208) December 26, 2022
An academic from Drexel University has proposed that 50% of the LUNC tokens burned in the network be moved to the community development pool. The developers want to return to the old days by making some innovations on the platform.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!