Terra Classic (LUNC) Starts off the Month with a Bang
As September starts up, we expect some cryptocurrencies to move drastically in one direction or another. This is when a lot of investors are making changes in their budgets, some of them finding extra funds to invest in cryptocurrency and others falling short on their profits and needing to pull out of some crypto tokens. Terra Classic (LUNC) is the big winner today on the crypto charts, experiencing a 68.52% gain over yesterday.
What’s Going on with Terra Classic?
Today’s increase Terra Classic investment brings the LUNC rate to $0.0002783 (LUNC/USD). Trae volume for this crypto is up 397% over the last 24 hours. That brings the trade volume for that period up to $1.741 billion.
Those kinds of numbers mean that this crypto is almost impossible to manipulate by the actions of a few cryptocurrency whales. This indicates a larger trend for Terra Classic, which is kind of amazing considering it doesn’t even rank in the top 200 cryptos.
Terra Classic has hardly moved at all over the last two months, so today’s major boost is big news for this crypto and anyone who has invested in it. Now, their investments are paying off in a big way.
Can the Current Trend Be Sustained?
Because of the huge rate increase for Terra Classic today, we expect that a lot of investors who have held LUNC tokens for a while will want to cash in. We are going to see a number of them do just that, pulling out their LUNC investments. At the same time, there will likely be a number of new investors hopping on the growing hype train for LUNC and hoping to earn a profit.
The major shift in the LUNC rate is sure to bring in new investors, especially when it is for a crypto that has been around as long as this one. Terra Classic has been a part of the cryptocurrency market since 2019, so there is a lot of consumer faith in this coin as an investment. Potential investors don’t have to worry about it turning out to be a scam token, though they should be concerned of major price fluctuations after today’s big jump.
While there is potential for the rate to continue to increase for the short term as the wider market holds mostly steady right now, we don’t expect the gains to continue to grow at this rate for much longer. We could be seeing the beginnings of a push to a much higher level for Terra Classic, or a short blip on the radar that fades out quickly. We urge caution for anyone investing in Terra Classic at the moment, as it’s hard to tell which way the trend will go from here.
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