Terra Classic Takes Center Stage: Will LUNC Break Into Top 50?

After the spectacular implosion of the Terra ecosystem in May 2022, the rebranded token, Terra Classic (LUNC), is gradually regaining its footing in the crypto scene amid the unfolding bull market. In the last 24 hours, LUNC has recorded substantial positive metrics that have impacted its position in the ranking of valuable crypto projects.

According to CoinMarketCap data, LUNC has grown from a low of $0.0001171 to as high as $0.0001425 within the last 24 hours. This uptick translates to a significant 21% growth rate. At the time of reporting, the asset has slightly retraced to approximately $0.0001273.

Furthermore, CoinMarketCap has reported a notable 9.05% surge in LUNC’s market capitalization, now exceeding $744 million and securing a position in 84th place. This surge coincided with a considerable influx of crypto market participants, exchanging over $186 million worth of LUNC in the past day. Notably, this trading activity has positioned LUNC as the 55th most traded coin among the myriad cryptocurrencies in the market.

Given LUNC’s current ranking at 84th, its market cap of $744 million needs a growth factor of two for the asset to ascend among the top 50 most valuable tokens. This implies that the market cap needs to increase to at least $1.5 billion. This represents a formidable feat, considering that LUNC tokens in circulation exceed five trillion units.

Meanwhile, as of May 1, 2022, LUNC, then LUNA, had a market share of $28 billion, ranking among the eight most prominent crypto projects. A few weeks later, the asset imploded, and it has yet to regain its prominence in the space.

The team behind the project has undertaken several initiatives aimed at propping the value of LUNC. For instance, LUNC relaunched the road to a $1 campaign by pleading to burn 100% of their commission.