Terra LUNA Classic Price Super Bullish and Spikes up to 50%

Quick Takeaways

• Recent LUNC staking and 1.2% burn of tax play a key role in LUNC price hike.
• In the last 24 hours, LUNA Classicprice has surged by 50%.
• The market capitalization is now $1.5 Billion, up 39%.

Terra LUNA Classic (LUNC) is back on track. LUNC price has skyrocketed by 50% in the last 24 hours and the market cap has reached the $1 billion mark after 3 months. The LUNC staking has also been rising steadily and the trading volume has peaked at more than 100% too.

LUNC price’s high in the last 24hrs is $0.0002436. The lunatic community believes this hike in LUNC will give the crypto community the biggest bounce.

As well, the market capitalization currently stands at $1.5 billion, up 48.39% in the past 24 hrs. The peak in the market capitalization was at $1.6 billion with trading volume of $925.66 million. So far, trading volume is over $978 million, an increase of about 136%.

Related: LUNA Classic Price Spiked on LUNC Staking, New Governance Alert Bot Launched

Possible Reasons for LUNC Price Hike – LUNC Staking

The token is also showing a climb in staking due to the newly introduced staking feature. In addition to this, the recent 1.2 % burn of tax for all transactions has played a key role in this price increase.

The ultimate motto of the new Staking protocol is to reduce the number of tokens in circulation. As part of the Terra Classic V22 network update, the staking feature became operational. Over 1% of the LUNA Classic (LUNC) supply was staked  in the first 24 hours after release.

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