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The crypto influencer that hosts the Classy Crypto YouTube channel thinks Terra Luna Classic ($LUNC) is performing like a top cryptocurrency. In a recently uploaded video, the analyst noted that despite the overall drop in crypto prices, $LUNC has sustained an upward momentum.
Data from CoinMarketCap shows that $LUNC has gained nearly 7% of its value in the past seven days. The gain would have been much higher if not for a pullback after the price reached a local high of $0.00009632 before dropping to $0.00008858 at the time of writing.
According to the Classy Crypto host, $LUNC is in a moment when it is performing incredibly well in terms of price gains. He acknowledged $LUNC’s close relationship with USTC, noting how closely $LUNC’s price trails that of USTC. The analyst noted that USTC is a more volatile digital asset. However, he observed that $LUNC tends to follow USTC’s movement, especially in direction.
The Crypto influencer highlighted Binance’s support of Terra LUNA as crucial for $LUNC’s recent performance. According to him, that only contributes to the upward trend and takes nothing away from the project itself. He claimed that if the Terra LUNA Classic community holds over $100 million for a significant period, $LUNC will be listed on Coinbase.
The analyst explained that $LUNC is a decentralized cryptocurrency that operates off the Cosmos SDK. He hinted that from the XRP verdict, it is clear that regulators would not consider any cryptocurrency that trades primarily on exchanges a Security. Therefore, American crypto exchanges are not afraid to list $LUNC on their platforms.
$LUNC is the original Terra LUNA coin left behind after the infamous collapse of UST/Luna and the establishment of a new Terra chain.
coindesk.com
u.today
thecryptobasic.com
