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Despite a modest slowdown in its latest upsurge, the Terra Classic (LUNC) has retained a position on the list of top-gaining assets.
Terra Classic (LUNC) has climbed atop the list of top-gaining assets on CoinMarketCap for the first time in a month. The asset rallied nearly 7% in a 24-hour time frame to a high of $0.0001322 today before facing a roadblock. LUNC has continued to show strength on its journey to reclaim the February high above $0.0002.
Classy Crypto, a Terra Classic community influencer and TerraCVita core team member, highlighted the rapid surge in a tweet today. Classy noted that this is the first time the asset topped the top gainer’s list in a month.
BOOM! $LUNC HITS TOP GAINER FOR THE FIRST TIME IN OVER A MONTH!
LIKE & RETWEET TO SPREAD THE WORD! 🔥🔥🔥 pic.twitter.com/cFf68uEQ2i
— Classy 🔮 (@ClassyCrypto_) April 7, 2023
Data from a snapshot reveals that LUNC had surged by 6.93% in a 24-hour time frame, having rallied to a high of $0.000131. By its meteoric rise, the asset was the highest gainer among the top 100 assets within the time frame. Terra Classic’s bullish position comes when BTC and several other assets register losses or trade flat.
However, LUNC’s rally has faced stern opposition from the bears, dropping it below the lofty $0.00013 position. Despite this hurdle, the asset still retains a position among the top gainers, securing third, with a 3% gain in the past 24 hours. LUNC is only outranked by Enjin Coin (ENJ) and Injective (INJ).
LUNC Sees Renewed Interest
Notably, Terra Classic’s trade volume has also seen a rapid increase in the past few hours. The asset’s 24-hour volume soared from $56.5 million at 00:25 (UTC) to $109.8 million at 7:00 (UTC), marking an impressive 94.2% increase in less than 7 hours. This indicates a massive flow of demand into LUNC by investors.
The metric comes without surprise, as a previous report revealed that LUNC was among the most viewed assets in Europe and Asia in Q1. The token was also the top-viewed asset in the DeFi sector, taking a massive 44.2% market share.
Other than that, the Terracvita recently launched Terraport project aims to bring more Burns and utility to the LUNC.
Cremation Coin, one of the big burners of the LUNC, recently announced that they are introducing a new innovative NFT initiative that could help burn more Terra Classic (LUNC).
Meanwhile, Terra Classic is currently trading for $0.0001255 at the time of reporting, tilling the ground for a rally to the much-coveted $0.0002 territory which was last reclaimed in early February. Sealing a secure position above $0.00013 could provide enough bullish support for the eventual rise to $0.0002.