Terra Luna Classic ($LUNC) started a bullish momentum four days after its testnet upgrade. The asset’s Twitter community believes that the current price point might be the bottom for $LUNC.
Despite the charges that the co-founder of Terraform Labs, Do Kwon, could face in South Korea or the US, the $LUNC developers upgraded the testnet version to 2.0.0, according to a report by FX Street.
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Moreover, $LUNC’s price has also started a bullish momentum after its testnet upgrade, becoming the top-third gainer in the past 24 hours. The fallen crypto asset is up by 12% over the past day and is trading at $0.000092 at the time of writing.
$LUNC’s market cap is now at $540 million, with a 24-hour trading volume of over $85 million.
Furthermore, on May 9, Terraform Labs was caught transferring Convex Finance ($CVX) tokens worth millions. According to Etherscan data, the company’s Ethereum address transferred 1.83 million $CVX coins — worth roughly $8.6 million at the time of the transfer to an unknown address.
While $LUNC registered a significant 18% loss two days after its testnet upgrade, the asset’s Twitter community stayed bullish. A $LUNC holder with the Twitter handle Mike P. believes it might be the bottom line for the asset’s price as he noticed a spike in $LUNC’s trading activity on the largest crypto exchange, Binance.
Today I woke up to a green morning. On Binance, #USTC is #1 and #$LUNC is #3 in spot trading today in percentage growth over the last 24h.
— 🌕 Mike P. (@LUNCpredator) May 10, 2023
Two options:
1. It is only correction and we will go further down
2. We've reached the bottom and the BULLRUN at the #LunaClassic has begun pic.twitter.com/EdX5ApbEkS
To Mike’s reply, some said that it’s the “bottom” for $LUNC while a user with the Twitter handle Trader809 believes the asset’s price would continue its “zigzag” movement for now.
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