Terra Classic continued its extreme volatility on Monday and Tuesday after a sensational six-hour rise was followed by another sharp sell-off.
LUNC – often wrongly referred to as Luna Classic – made gains of 75% at one from 6am to 12pm UTC on Monday and was up to $0.00032, before a sharp retraction since has the coin down 12% in the last 24hrs.
At the time of writing Terra Classic is trading at $0.00027 on incredible 24hr volume of nearly $1.3 billion – seventh-most in that time, beaten only by three stable coins (USDT, USDC and BUSD), Bitcoin, Ethereum, and XRP.
Terra Classic (LUNC) Price Prediction
It currently feels impossible to accurately predict the movements of LUNC, with the bears in control one day and bulls in control the next.
After nearly ten days of downwards movement, LUNC exploded on Monday to make massive gains for day traders before a big retraction.
The LunaClassicHQ Twitter account continues to mobilize much of the grassroots activity on social media, leading to buy-in and FOMO from other investors.
The Terra Classic community is now petitioning the likes of RobinHood, Coinbase and others to list LUNC.
One key announcement was made on Tuesday, which led to an initial sell-off as investors took profits but could see more buying volume in the days to come.
Binance Announcement on LUNC
Binance, by far the biggest crypto exchange with around $20 billion of daily trading volume, made a big announcement that was met with excitement by the LUNC communuty.
A statement on their website read: “LUNC and USTC deposits to Binance are subject to the withdrawal fees charged by other exchanges or platforms, where applicable.
“Binance will apply a 1.2% consolidation fee for all deposits received by Binance before crediting to users’ accounts due to the 1.2% tax burn implemented on LUNC and USTC transactions on the Terra Classic network.
“Users will receive the withdrawal amount minus withdrawal fees charged by Binance and the 1.2% tax burn.”
The announcement came after “feedback from the community”, which was largely grassroots social media activism.
The news was met with huge excitement from the LUNC community as they bid to bring down the huge issue of the vast supply (nearly 7 trillion tokens), with some claiming Binanace are adopting a ‘soft approach’ before implementing the full burn.
The general crypto market has enjoyed a much more bullish last 24hrs and is up around 5% in total.
If that bullish sentiment continues, expect LUNC to pump again in the coming days.
Another project enjoying huge attention today is Tamadoge (TAMA) which had $200 million volume in just four hours after listing on OKX.