In the last 24 hours, Terra Classic (LUNC) has increased in value by over 70% due to the news of the redesign of the stablecoin USTC.
With over $1 billion in trading activity in the last day, LUNC’s price has increased by over 74%, according to Coinmarketcap’s data on the cryptocurrency market. In the past month, LUNC has experienced a significant price increase totaling more than 300%.
The resurgence of USTC stablecoin and the current rise in interest in the Terra ecosystem are what have caused the LUNC boom. Gradually, Terra is regaining attention with significant developments, such as Binance introducing perpetual contracts for USTC.
The latest spike in the price of Bitcoin, which broke $40,000 earlier today, is also happening at the same time as the LUNC pump. The announcement that Binance will be burning approximately 4 billion LUNC tokens during its 16th burning event has also contributed to the token’s explosive price increase.
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