Some tokens connected to the Terra ecosystem have gained several times in value following the activity in recent weeks.
Three tokens, Terra Luna Classic (LUNC), Terra 2.0 (LUNA), and TerraClassicUSD (USTC), have gained over 300% in value on a weekly basis, recording increases of up to 70% in the last 24 hours.
According to CoinGecko data, the total transaction volume of these tokens is, over 2 billion dollars It went up to .
The Terra Classic network was developed by Terraform Labs and operates as an independent blockchain. Terra 2.0 was revealed as a fork after the Terra ecosystem collapsed.
Bitcoin-heavy payment technologies project Mint Cash recently launched Terra’s collapsed stablecoin. Bring it back to life using Bitcoin to pass and a program for USTC and LUNC holders organize an airdrop He announced his plans.
On the one hand, Binance also uses the transaction fees it obtains from the trading pairs where LUNC is located. Burning LUNC and removing them from circulation continue does.
Terra collapsed in May 2022 because the price of the algorithmic stablecoin called TerraUSD (UST) could not be stabilized.