LUNC and USTC Price Rises As Terra Luna Classic Holders Hit Record High

Terra Luna Classic has hit a new milestone as the number of LUNC and USTC holders hit a new high of 5.5 million. The rate of increase is comparatively low to the post-Terra Luna crisis in 2022, but the number of wallets holding Terra Luna Classic ecosystem tokens continues to rise, primarily due to support from Binance and other crypto exchanges.

Terra Luna Classic Wallets Rises Over 5.5 Million

The number of accounts holding LUNC and USTC reaches a new landmark of 5.5 million, as per data by Cosmos blockchain explorer ATOMScan. The wallets have increased from 5 million when the Terra Luna Classic community backed by validators and developers took charge to revive the chain.

Terra Classic accounts are even higher than top cryptocurrencies such as Cardano and Shiba Inu. As per recent reports, the total number of wallets on the Cardano network surpassed 4.6 million. Moreover, the number of Shiba Inu holders has reached 1.38 million, according to data by Etherscan and ShibariumScan.

While top cryptocurrencies’ wallet numbers continue to rise amid growing crypto adoption, Terra Luna Classic wallet numbers hint at people still holding onto their LUNC and USTC in hopes of prices recovering during the bull market.

Terra Luna Classic burn campaign supported by crypto exchange Binance has boosted LUNC prices. Binance has burned a total of 53.48 billion LUNC tokens to date. Other crypto exchanges and projects also burn LUNC to support the community in reducing the token supply. Recently, WEEX has committed to burn LUNC with trading fees on spot and futures trading pairs.

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LUNC and USTC Prices Jump 5%

LUNC price jumped 5% from the 24-hour low of $0.000123, a strong support level. The 24-hour low and high are $0.000123 and $0.000134, respectively. The trading volume has dropped by 40% in the past 24 hours, indicating a decline in interest among traders.

Total LUNC futures open interest (OI) has jumped by over 2% in 24 hours and 4% in last 4 hours. Meanwhile, 1000LUNC on Binance and Bybit has also risen by 2% in the past few hours. The latest positive sentiment is a result of the upcoming major v2.4.2 upgrade.

USTC price also jumped 2% in the last 24 hours. The price currently trades at $0.0259, with a 24-hour low and high of $0.0243 and $0.0266, respectively. Furthermore, trading volume has decreased by 40% in the past 24 hours.

Also Read: Top Analyst Who Predicted Bitcoin Crash Says “Too Early to Buy the Dip”