The weighted surge experienced by Terra Luna Classic (LUNC) in the past 24 hours has been 5%. Due to the surge, the trading price of LUNC has surged to a high of $0.00013703.
The price of the asset has moved higher while the rest of the crypto market has not demonstrated growth. The most promising thing is the price of LUNC hitting an even higher figure during the day.
Recent Performance of LUNC
Although the weighted surge recorded by LUNC in the 24 hours was 5%, the actual surge LUNC experienced in the same period was 7.7%.
This suggests that the trading price of LUNC has experienced an even strong surge in the past 24 hours that the weighted surge. The price of the asset jumped even higher than the price recorded after a 5% surge.
Despite the strong jump in the past 24 hours, the trading price of the asset has experienced dips in the weekly and monthly performance.
The historical performance shows that in the past 7 days, the trading price of LUNC has dipped 17%. Then in the past 30 days, the trading price of the asset has dipped by 10%.
Inconsistent Movement of LUNC
In the past few weeks, the performance of LUNC has been mixed. Most of the time, the asset has faced a downtrend, which is common given the current market reputation of LUNC.
The performance of the asset has been very inconsistent and the investors have faced losses for most of their investments.
Still, it is a relief for the investors to see the price of the asset being pushed higher in the recent trading sessions.
The reason behind the surges in the trading price of LUNC is mainly because of the efforts being put in by the LUNC community plus the major exchanges.
The LUNC community has been burning the LUNC tokens to create more demand for the assets in the market.
The teams behind LUNC had announced that the chance for LUNC’s revival was to keep burning the LUNC tokens. This would eventually create scarcity for the asset and push its price higher.
The teams had also provided a burning address for LUNC and Binance exchange is among the largest burners of LUNC since September.
So far, Binance has burned billions of LUNC that have continued helping in boosting the trading price of the asset.
Time to Re-Mint 50% of the Burnt Tokens
Recently, it has been proposed by the Terraform Labs teams that 50% of the total burned tokens should be re-minted.
This means that the momentum of LUNC has picked up and the asset is growing in demand. This is the reason why such a proposal has been made and the investors are excited about it.
The investors are hoping that the price of LUNC will continue rising, which is why they are supporting the re-minting of the burned LUNC tokens.
LUNC Price may Continue Surging
Due to the recent performance and the sentiments of the bulls, LUNC has started experiencing a bullish reversal. For now, the indicators have started moving in favor of LUNC’s bullish movement.
This is a very positive and strong signal in favor of LUNC. If the trend continues, then the trading price of LUNC may continue to surge.
There was another indicator that had been pointing towards a bearish movement for an entire week. However, the recent surge in the trading price of LUNC has caused it to shift its orientation.
The particular indicator is also moving in the bullish zone supporting the buyers in running their strong rallies.
This is all because the investors are hopeful that someday, LUNC will be able to return to its old trading price. At the least, the investors are hoping that the price of LUNC may surge to $1.
The best part is that it is the community entirely who are working really hard to achieve the final goal.