Terra Classics LUNC is up by 50% on Thursday: Here is why
LUNC, the native coin of the Terra Classic ecosystem, is up by 50% in the last 24 hours, outperforming the other major cryptocurrencies.
LUNC is the best performer amongst the top 100 cryptocurrencies by market cap today. The native token of the Terra Classic ecosystem is up by more than 50% in the last 24 hours, outperforming the broader crypto market.
The cryptocurrency market is recovering from the slump suffered on Wednesday. The total market cap is now up by more than 4% in the last 24 hours and currently trades above $975 billion.
Bitcoin is eyeing the $20k resistance point once again after adding nearly 3% to its value today. Ether is up by more than 7% in the last 24 hours and is trading above $1,600 ahead of the Merge.
LUNC’s rally comes as the Terra Classic ecosystem prepares for its 1.2% tax burn. Several exchanges, including KuCoin, have announced support for Terra Classic’s 1.2% tax burn when the proposal is officially approved and implemented on Terra Classic (LUNC) mainnet.
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