The cryptocurrency market is rocking once again with the impressive increase in the price of Terra Classic (LUNC). The positive announcements added to Terra Labs’ revival plans stand out as one of the important factors catalyzing this rise. With the new price increases observed in the last month, the crypto industry is almost focused on Terra Classic.
The price of Terra Classic increased by 25% in the last 24 hours to $0.0001195, and its market value increased by 25% to over $693 million. Since the beginning of November, there has been a noticeable increase in the price of Terra Classic; Starting from 4 zero ($0.00006517), there has been an increase of over 80% to the current price level.
Understanding the factors behind this impressive rise can play a critical role in predicting LUNC’s future performance. In this context, we will discuss in detail the factors behind this huge increase in the value of Terra Classic and the factors that contribute to the continuation of this momentum.
1. Terra Labs’ Revitalization Plans and Strategic Moves: Terra Labs attracted the attention of investors with its announcements and strategic steps regarding the revival process of the project. These plans to shape the future vision of the project increased the demand for Terra Classic by creating confidence in investors. You can access the details of these developments from the link below.
Terra Classic Accepts Major Update: Another Problem Solved on the Way to $1!
2. Community Engagement and Developments: The active community behind Terra Classic actively contributes to the development of the project. Innovative features, updates and strategic partnerships are among the elements that distinguish LUNC from other projects and add to its value. Community engagement shows how the project is growing as not just a crypto asset but also an ecosystem.
3. General Optimistic Tone and Increase in Demand in the Crypto Industry: Cryptocurrencies are generally experiencing a positive period, and this optimistic atmosphere supports the demand for Terra Classic. The ongoing LUNC price increase is linked to Bitcoin’s price increase. Koinfinans.com As we reported on the price charts of both LUNC and BTC, both are rising even though the price increase is over 25% in LUNC and 3.29% in BTC. The impact of Bitcoin price movements on the overall crypto market is undeniable. As investors’ tendency to take risks increases, the demand for promising projects like LUNC also rises organically.
You can follow the current price movement here.