The live market cap of Terra Classic (LUNC), now over $2.6 billion, has overtaken the $2.08 billion fully diluted valuation of Terra (LUNA).
Whether LUNC will keep going up or retrace to retest the $0.0003 level remains to be seen but for now LUNC is the best performing cryptocurrency asset of the third quarter of 2022 and sucking up all the liquidity in the crypto markets, up 65% this week.
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Best Crypto of Q3 2022
Host of crypto podcast @stackspodcast Luke Martin commented earlier this week on how the newly announced LUNC burn was generating a ‘ridiculous’ 24 hour trading volume exceeding $1.7 billion.
$LUNC one of the best performing coins again +25%
The supply burn is generating some ridiculous numbers:
• $1.7billion 24hr volume
• FDV now $1.9billion
That makes it the 5th highest volume coin behind BTC, ETH and stables
Fully diluted value 5% away from flipping Luna 2.0 pic.twitter.com/E9Vq6ybUST
— Luke Martin (@VentureCoinist) September 1, 2022
That pump continued over another 40%. Update – at press time LUNC has broken out yet again to another all time high – of 0.00045 against BUSD on Binance.
Terra Classic’s 24 hour volume is now $2.58 billion, and its FDV is approximately $3 billion.
Terra Classic (LUNC) – via CoinMarketCap
LUNC vs LUNA
The daily trading volume of Terra (LUNA), also referred to as LUNA 2.0, is also up several hundred percent today but is only $279 million in comparison.
In terms of circulating supply, according to CoinMarketCap here’s how the two Terra coins compare:
- 6.15 trillion LUNC
- 127.5 million LUNA
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