Luna Classic price surges, LUNC enters the top 30 cryptos
With the launch of Luna 2.0, the original Luna Classic (LUNC) is attracting renewed interest and has also registered notable changes and shifts in price.
In the last 24 hours, the Luna Classic price has shot up by more than 30%.
So, let’s take a look at how Luna Classic has been performing so far.
Luna Classic Price
The Luna Classic price has certainly had a volatile month. The Terra Luna community has had an eventful May 2021, with the unprecedented Luna collapse wiping billions off the crypto market.
In an interesting turn of events, the newly launched Luna 2.0 dropped 70% after the Luna 2.0 airdrop. Conversely, the price of Luna Classic soared in its wake, and jumped over 100% in 24 hours.
However, as we approached the end of May and went into June, things changed for LUNC. Both Luna 2.0 and Luna Classic have recorded price drops in the last few days.
Luna Classic is trading at $0.000095 – down 6.9% in 24 hours, and down 37% in 7 days.
The Luna crypto crash that occurred two weeks ago ended up hurting the price of Luna Classic, which dropped 99% from its price of $80 in a span of a few days.
After its unprecedented fall that wiped millions of dollars off the crypto market, the Terraform Labs founder Do Kwon introduced a new chain as part of the Luna recovery.
Luna validators approved this through a preliminary Terra Luna vote, but the recent Luna 2.0 statistics paint a somewhat disappointing picture for those hoping to recover their lost money. The new coin is down 65% since its launch and is sitting at $6.54
But what’s next for Luna Classic?
The coin at the moment has soared past 30% and is sitting at a price of $0.0004072. The token’s market cap has also surged 40% and is stable at $2,502,381,204 with a 24-hour trading volume of $2,858,209,526.
The network has recently deployed a new network upgrade which has introduced a staking mechanism for the users to explore and experiment triggering LUNC to reach an all-time high.
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Luna Classic (LUNC) Holders Expected to Relist
In order to support the new chain, Luna 2.0 crypto exchanges temporarily suspended all Luna trading on the original chain until after its launch.
And now, a few days after its release, Luna Classic trading has restarted across several exchanges. Most notably for the community, this includes Binance.
In the Binance Luna 2.0 announcement, the exchange confirmed it would pause Luna Classic trading until May 30. While LUNC’s price did seem to benefit from this initially, it has now passed this point. The old token is in once again decline.
“Anyone expecting a big jump on LUNC tomorrow when Binance makes it available again?” one user posted on Reddit ahead of the listing.
With LUNA Classic holders still dropping 99%, holders may just be looking for – and hoping for – some respite from their lost holdings.
However, according to coinmarketcap, LUNC’s price has spiked over 30% in the last 24 hours, trading at $0.0004084, up 43.33%.
The surge is due in part to the latest upgrade the network has undergone, which reintroduced staking to the LUNC ecosystem.