Coinbase Reportedly Re-Listing Terra Luna Classic (LUNC)

14 May, 2024

Senior Journalist

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Highlights

Coinbase has allegedly reinstated LUNC swaps on its flagship wallet
This gesture, which boycotts LUNA, suggests the exchange might be relisting LUNC soon
The news has sent the price of LUNC up alongside its major performance metrics

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American multinational crypto trading platform Coinbase Global Inc. is reportedly making plans to re-list Terra Luna Classic (LUNC). The news, now circulating on Crypto X, is considered a major bullish update that can push Terra Luna Classic to new highs.

Coinbase and Terra Luna Classic

Current chatter on X from LUNC community members revealed that Coinbase Wallet has showed support for LUNC. One of those who first broke the news (@MrDiamondhandz1) noted that Terra Luna Classic is showing available to trade on Coinbase Wallet.

JUST IN: $LUNA is showing as a asset not supported by #Coinbase, and $LUNC is showing available to trade on Coinbase wallet. Bullish! Time to send #LunaClassic to the moon! 🚀🌕💎🤲🏻 #Crypto #LUNCcommunity pic.twitter.com/FklO8BQ41o

— Mr. Diamondhandz1💎 (@MrDiamondhandz1) May 13, 2024

@MrDiamondhandz1, known as one of the popular validators in the community, Diamondhandz1 said while the Coinbase Wallet features a coming soon outlook for LUNC, it was completely silent on the status of Terra Luna (LUNA). In 2022 when Terraform Labs collapsed alongside its two associated token, LUNA and UST.

With the collapse, the market saw the liquidation of over $60 billion in both cryptocurrencies, plunging investors into a financial dessert. At the time, many cryptocurrencies delisted the original coin LUNA, a proscription that has lingered to date. In order to salvage the protocol, the Do Kwon led Terraform Labs backed the forking of a new chain with the retained Terra (LUNA) identity.

The old chain saw its name changed to Terra Luna Classic (LUNC) and has continued to innovate in order to regain the broader market confidence. LUNC has tried to converge the community in a bid to fight to regain the lost glory. The current tease of listing by Coinbase Wallet is a major vote of confidence for the project.

LUNC Metrics Lights Up

The news of Coinbase’s potential relisting of Terra Luna Classic has sent a bullish uptick into the community. At the time of writing, the price of LUNC has jumped by 1.10% in 24 hours to $0.0001054. For a token that traded lower in the day, this uptick comes off as a major trend shift amid a confluence of bullish news recorded this month.

As reported earlier, the Terra Luna Classic community has proposed to bring Allnodes as an official organization to manage the endpoint for circulating supply. With converged efforts to reboot the ecosystem as a functional one, any imminent Coinbase listing can amply its efforts.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.