Sign Up on MEXC
In the world of cryptocurrencies, USTC and LUNC, two cryptocurrencies belonging to the Terra Classic ecosystem, recently amassed significant attention among crypto market enthusiasts as the USTC cryptocurrency witnessed a sudden increase, resulting in an increase in APR on staking.
The aforestated surge in APR on staking created a buzz within the cryptocurrency realm as investors and traders primarily acknowledge the advantages of staking cryptos, mainly due to passive income reasons.
Concurrent with the rise in APR on staking, the two cryptocurrencies witnessed a phenomenal price surge over the past few days. However, the tokens noted a substantial decrease over the past twenty-four hours.
APR On Staking Upswings
According to recent on-chain data on the Terra Classic community, the APR on staking is currently valued at 22.75%. Furthermore, the rewards for staking LUNC include USTC, as per data shared by validator.info, a platform showcasing on-chain metrics.
Apart from this, a user on X also confirmed the availability of USTC in the APR, stirring up speculation within the broader crypto market.
The staking of cryptos potentially helps in regulating and validating transactions on any blockchain, offering aid in keeping the overall network stable, along with an incentive for crypto market enthusiasts to earn passive income.
Furthermore, the value of the total LUNC coins staked to date amounted to $99.99 million.
Also read: FSB Warns Against FTX-Like Crypto Risks, Urges Global Safeguards
LUNC and USTC Price Tumbles
At the time of writing, the LUNC price witnessed a substantial rise of 28.41% over the past twenty-four hours, reaching $0.0001215 on November 29. Moreover, over the past seven days, the token witnessed a phenomenal surge of 69.75%, along with a colossal surge of 88.17% over the past month.
The highest price witnessed by the token during this period was evaluated at $0.0001241 while writing.
The USTC price noted a significant surge of 52.89% over the past twenty-four hours, reaching $0.05755 today. However, the token showcased a phenomenal upswing of 350.90% over the past seven days. Additionally, the cryptocurrency also noted a 371% surge over the past month.
The highest price witnessed by USTC during this period was evaluated at $0.07324.
Besides the price fall witnessed by the Terra Classic-backed tokens today, USTC and LUNC portrayed a dramatic jump in their prices over the past few days following the recent strategic acquisition of millions of USTC by Terra Classic Labs. The acquisition appears to have caused a ripple effect, pushing the LUNC price upward as well.
Also read: Ex-Binance CEO Changpeng ‘CZ’ Zhao Hires Veteran Federal Prosecutor Matthew Diggs
- Ethena Labs Secures Fresh Funding From ArkStream Capital, ENA Price Spikes
- SEC Forms International Task Force to Crack Down on Pump-and-Dump Schemes
- Justin Sun Pledges $20M Buy Following WLFI Wallet Freeze
- Expert Blames ‘Secret Committee’ for Rejecting MSTR Stock Inclusion to S&P 500
- MARA Bitcoin Treasury Nears $6 Billion, Trails Only Strategy in Public Rankings
- Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
- Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut
- ETH Price Forecast as Grayscale’s Covered Call Ethereum ETF Spurs Optimism — Is $8,500 in Sight?
- Bitcoin Price Prediction as SEC Unveils Agenda for Crypto Regulation — Is $200K Next?
- ONDO Price Prediction Amid Bitget Collaboration on Tokenized Stocks and ETFs: Is $2 Next?
