Terra Luna Classic LUNC price is up by 22% to trade at $0.000161. A significant bullish run by Terra Luna Classic (LUNC) makes investors wonder where this coin may be going. Before the May crash, LUNC was the original token of the Terra Luna blockchain. The new LUNA token retained the name, but Terraform Labs changed the old LUNA token’s name to LUNC.

V22 Update for LUNC Validators

Terra’s gain is most likely due to the LUNC validator v22 update. The vote will pass, and the update will bring staking back to the network. According to internet rumors, 69% of the population voted. The vote in favor of the v22 update gives the stalled project much-needed momentum. Furthermore, the reintroduction of the staking feature benefits Terra Luna Classic.

On August 26, Binance, the largest cryptocurrency exchange, announced that it would support the network update by suspending deposits and withdrawals until the upgrade was completed. According to Binance’s notification, it will not affect LUNC trading. However, the community has long desired this initiative. The rising price and trade volume reflect the generally upbeat mood.

LUNC DAO Staking Service

Terra Luna Classic’s price has recently skyrocketed. One reason for this is the new staking service offered by LUNC DAO. A group of Terra Luna Classic participants who are developers and community builders founded LUNC DAO. The community has already requested a LUNC burn. Its goal is to reduce the number of Terra Luna Classics in circulation to restore coin value. The LUNC DAO is a reliable and safe community validator.

Users can use this to earn a return on their LUNC tokens. It is used to purchase new LUNC tokens that are then burned. As part of the LUNC v22 network update, token staking became operational. @LuncStaking Bot tweeted on August 30 that over 402 billion tokens, or roughly 6% of the supply, have been staked. The first update from @LuncStaking Bot on August 27 revealed that 182 billion tokens, or 2.6% of the supply, had been staked.

Token holders had increased their stake by 120% in three days. According to Staking Rewards, the average yearly reward rate is 37.8%, making it one of the highest staking rewards available. On the other hand, unsustainable rates remain a concern, particularly during limited liquidity.

To further increase scarcity, developers have added token burning. According to the LUNC Burner website, more than 3 billion LUNC tokens have been removed from circulation. The procedure will help to reduce the amount that is currently in circulation. As a result, the value of the token rises.

Terra Luna Classic LUNC Technical Outlook

Terra Classic’s current price is $0.000164, with a 24-hour trading volume of $328,029,836. Terra Luna Classic opened the day at $18.53, reaching a high of $ 0.00016130 and a low of $ 0.00014970. Terra Classic has increased by 9.93% in the last 24 hours and nearly 22% in the last seven days. CoinMarketCap now ranks #211, with a live market cap of $1,079,854,878. The circulation supply is 6,585,063,472,161 LUNC coins, and the maximum supply is unknown.

Terra Luna Classic Daily Price Chart – Source: Tradingview

The LUNC/USDT is trading with a bullish bias at $0.0001648. However, the triple top pattern is extending strong resistance at 0.0001677, and Terra Classic is having difficulty violating this. On the higher side, a break above $0.0001677 can extend the uptrend until the $0.0002046 level.

Terra Luna Classic LUNC Daily Technical Levels

Support Resistance

0.0001381 0.0001715

0.0001174 0.0001842

0.0001047 0.0002048

Pivot Point: 0.0001508

Alternatively, a failure to break above the $0.0001677 level can trigger selling in the LUNC/USDT pair, dropping to the support level of $0.000120. But in any case, forming the “three white soldiers” candlestick pattern can potentially drive an uptrend in LUNA. So, let’s consider buying trades over the $0.0001675 level and vice versa.

Terra Luna Classic Video Analysis

Tamadoge Presale Raises $9.6 Million

In addition to Terra Luna Classic, which has already priced in fundamentals, Tamadoge is in the spotlight; its price may skyrocket following the presale. The presale of one of the most widely-discussed and rapidly-expanding cryptocurrencies has now raised over half its hard cap or 9.6 million USDT.

With the presale price increasing, Tamadoge (TAMA) has now sold more than half of its total token supply. Over half of the 1 billion TAMA tokens available in the presale have already been bought.

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