Is Terra Classic Staging a Comeback? LUNC Achieves a 58.68% Rebound in Days

Terraform Labs’ two struggling projects, Terra Classic (LUNC) and Terra Luna (LUNA), are making a notable comeback in the crypto market as sentiment turns bullish compared to last week’s turmoil.

Today, LUNA has surged by over 12%, climbing from an intraday low of $0.3252 to a daily high of $0.3643. On August 5, LUNA was valued at $0.2513 when Bitcoin dropped to $49K. With Bitcoin now back in the $61K range, LUNA has also experienced a significant recovery, reclaiming the $0.36 price level. This indicates that LUNA has rebounded by approximately 45% from last Monday’s low.

However, Terra Classic (LUNC) has shown even more impressive gains. In the past 24 hours, LUNC has increased by 24.5%, rising from an earlier low of $0.0000705 to an intraday high of $0.0000878. At press time, LUNC continues to hold these gains, remaining in the $0.00008 price range.

Notably, last Monday, LUNC dropped to $0.00005533 amid Bitcoin’s decline. With the reclaimed $0.0000878, Terra Classic has rebounded by a substantial 58.68% within seven days.

Amid this impressive performance, community members believe this could be the beginning of more significant price gains for LUNC. In a recent post on X, an analyst underscored the significance of LUNC’s over 20% gains today by noting that it could mark the start of something significant given LUNC’s position around a major demand zone.
Prominent analyst Javon Marks shared this sentiment in an earlier update, noting that LUNC is starting to look absolutely primed to surge. As a result, Marks projects that LUNC could be set for a 570% price gain, potentially driving its price to $0.00058826.