LUNC Crypto Recovers with Staking Surge, Bullish Sentiment Grows
Surprising Increase in LUNC Staking: What Does It Mean for Terra Classic?
Terra Classic has seen a notable increase in the staking of its cryptocurrency LUNC in recent days. After a sharp drop, the staking ratio of Terra Classic once again nearly reached the 15% mark.
Price Drop and Recovery for Terra Classic
In the past week, Terra Classic recorded a double-digit percentage price drop. According to CoinMarketCap, LUNC fell by more than 22% in the last seven days. This price drop may have caused uncertainty among stakers, leading them to begin unstaking their LUNC tokens. This resulted in a decrease in the LUNC staking ratio to 14%.
However, the situation changed again in favor of the token when the staking ratio rose again and was just below the 15% mark. According to data from LUNC Metrics, more than 1 trillion LUNC was staked at the time of reporting.
Causes and Outlook
One possible reason for the renewed interest in LUNC staking could be the slight recovery of LUNC on its price chart. The token’s bearish momentum slowed as its price fell only slightly in the last 24 hours.
At the time of publication, Terra Classic was trading at $0.0000952 and had a market capitalization of over $551 million, making it the 101st largest cryptocurrency.
Although the bearish trend eased somewhat, it was examined whether LUNC could actually recover from its recent price correction in the near future. Our analysis showed that the social volume of LUNC sharply increased on January 24, 2024, when its price slightly increased. This increased the bullish sentiment around the token, as evidenced by the increase in its weighted sentiment on the same day.
Conclusion
Despite recent losses, LUNC is beginning to recover, while its sister token, Terra [LUNA], has already managed to turn its chart green. According to CoinMarketCap, LUNA had risen by more than 1% in the last 24 hours and was trading at $0.5935 at the time of reporting.
Sources: CoinMarketCap, LUNC Metrics, TradingView.
The 3 best cryptocasinos
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 20 USDT or equivalent |
| Maximum bet | 2 USDT |
| Bonus validity | 30 days to claim |
| 14 days to wager |
- Max bonus: 1 BTC • 150 BCH • 17 ETH • 333 LTC • 600,000 DOGE • 30,000 USDT • 42,857 XRP • 428,571 TRX • 100,000 ADA • 125 BNB • 30,000 BUSD • 30,000 USDC
- Maximum bet per round: 0.000066 BTC • 0.01 BCH • 0.0011 ETH • 0.02 LTC • 40 DOGE • 2 USDT • 2.8 XRP • 25 TRX • 6.6 ADA • 0.008 BNB • 2 BUSD • 2 USDC • 3 CAD
- Free spins are credited on “Max Miner” by Gamebeat.
| Wagering requirements | 40x bonus |
| Minimum deposit | 0,1 mBTC |
| Maximum bet | $5 per spin |
| Bonus validity | 7 days to wager |
- Max bonus amount: 1 BTC/10 ETH/10,000 USDT/10,000 USDC/100 BCH/200,000 TRX/35,000 ADA/150 LTC/125,000 DOGE
- There is no cap on winnings or withdrawals.
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 14 days for deposit bonus |
| 7 days for free spins |
- This bonus has no limit.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
Advertising transparency