USTC and Terra Classic (LUNC) Prices Plummet, What’s Next?
- Luna Classic Labs denied the rumor that it had bought USTC worth $500,000
- LUNC fell by 23.51% while USTC’s price plunged from the $0.071 weekly high.
- LUNC may drop to $0.000068, and USTC might no longer reclaim the $1 peg.
After initially making double-digit increases on November 27, the prices of Terra Classic (LUNC) and Terra Classic USD (USTC) have tumbled. At press time, USTC, which is the algorithmic version of the now-collapsed TerraUSD (UST) stablecoin, plunged by 42.97% in the last 24 hours.
LUNC, like its sister cryptocurrency, fell by 23.51%, according to press time information from CoinMarketCap. Previously, Coin Edtion had reported how LUNC surged to a 90-day high as the Terra team moved toward stabilizing LUNC’s and USTC’s liquidity.
It’s a Pump and Dump
As a result, USTC produced an incredible 192.17% seven-day hike in price. However, there were other developments related to the price increase of both cryptocurrencies. First, Binance announced that it had added a USTC perpetual contract for leverage traders.
But before the Binance development, there was speculation that Luna Classic Labs, the development team behind both tokens,…
The post USTC and Terra Classic (LUNC) Prices Plummet, What’s Next? appeared first on Coin Edition.
Read More
USTC and Terra Classic (LUNC) Prices Plummet, What’s Next?
- Luna Classic Labs denied the rumor that it had bought USTC worth $500,000
- LUNC fell by 23.51% while USTC’s price plunged from the $0.071 weekly high.
- LUNC may drop to $0.000068, and USTC might no longer reclaim the $1 peg.
After initially making double-digit increases on November 27, the prices of Terra Classic (LUNC) and Terra Classic USD (USTC) have tumbled. At press time, USTC, which is the algorithmic version of the now-collapsed TerraUSD (UST) stablecoin, plunged by 42.97% in the last 24 hours.
LUNC, like its sister cryptocurrency, fell by 23.51%, according to press time information from CoinMarketCap. Previously, Coin Edtion had reported how LUNC surged to a 90-day high as the Terra team moved toward stabilizing LUNC’s and USTC’s liquidity.
It’s a Pump and Dump
As a result, USTC produced an incredible 192.17% seven-day hike in price. However, there were other developments related to the price increase of both cryptocurrencies. First, Binance announced that it had added a USTC perpetual contract for leverage traders.
But before the Binance development, there was speculation that Luna Classic Labs, the development team behind both tokens,…
The post USTC and Terra Classic (LUNC) Prices Plummet, What’s Next? appeared first on Coin Edition.
Read More