Terra Classic Up 18%, Reclaims $0.0002 For First Time Since November

The recapture of the $0.0002 price territory comes on the heels of a recent 18% price rally.

Terra Classic (LUNC) just reclaimed the price territory at $0.0002 for the first time since dropping from it last November in the wake of the FTX blowout. The asset recaptured the price level today after staging a 15% price surge within an hour to a high of $0.0002082.

Prominent LUNC influencer Classy highlighted the bullish momentum shortly after the asset achieved the feat. “LUNC just broke back into the 2’s for the first time in a while! LFG,” he remarked in a tweet today, sharing his excitement over the development.

$LUNC just broke back into the 2’s for the first time in a while! LFG!!!!

Who’s up???? pic.twitter.com/OXhP3wh06Q

— Classy ? (@ClassyCrypto_) February 3, 2023

Despite slight opposition at the high of $0.0002082, LUNC’s bullish momentum has not waned, as the asset currently maintains a 17.51% increase in the past 24 hours at a time when Bitcoin (BTC) and Ethereum (ETH) are respectively down 1.40% and 1.5% within the same time frame. 

Moreover, Terra Classic is still holding steady above the $0.0002 level, currently changing hands at $0.0002027. The currently has its eyes set on the pre-FTX levels above $0.0003 which could be recaptured if the bullish momentum is sustained.

USTC Has Also Rallied

Meanwhile, TerraClassicUSD (USTC) is staging another impressive solo rally, currently up 63.87% in the past 24 hours. The asset’s price uptick also picked up this moment, as it surged by 67% within 7 hours before hitting a hurdle. 

The asset is attempting to seal its position above the $0.04 level after recently conquering the $0.03 zone. It is currently changing hands at $0.04005 at the time of reporting. The last time USTC saw this price point was in October of last year.

Developments Surrounding Terra Classic

These rallies have followed several promising developments within the Terra Classic community. The imminent launch of Terraport which would come with a dedicated LUNC decentralized exchange (DEX) is one of the biggest expectations among proponents. 

As previously reported, Terraport promises several benefits for Terra Classic, including the incineration of tokens for every transaction and a contribution to the asset’s on-chain volume. Its Whitepaper reveals plans to buy back and burn LUNC tokens with 27% of fees realized every week. Moreover, the LUNC burn campaign remains on track, with new contributors jumping on the train.