NewsletterTerra (LUNA) Becomes Top Holding Among Top 100 Ethereum Whales
Terra (LUNA) price jumps over 25% suddenly on Wednesday to hit a high of $3.08. The price rally came as the LUNA wormhole token becomes a top holding among the top 100 Ethereum whales in terms of U.S. dollars, flipping Lido Staked ETH (stETH) tokens.
Terra (LUNA) Wormhole Token Flips Staked ETH (stETH)
According to WhaleStats, the LUNA wormhole token flipped Lido Staked ETH (stETH) to become the biggest holding by dollars among the top 100 Ethereum whales.
The LUNA token accounted for 25.06% of the total holdings of all tokens, excluding ETH. The total value of the LUNA wormhole held by the top 100 Ethereum whales is almost $820 million. The token even surpassed USDC and USDT holdings of the top 100 whales.
The token brought a rally to Terra (LUNA) token as the whales used the Wormhole interoperability protocol token to exit liquidity. The Terra (LUNA) price jumped to a high of $3.08 and the trading volume reaches almost 150% in the last few hours.
However, the LUNA wormhole tokens were swapped to Ethereum (ETH), USDC, USDT, and Bone ShibaSwap (BONE). Therefore, an upside momentum can be seen in ETH and BONE prices, up over 1% and 10% in the last few hours.
Moreover, conversations between Terra Classic validator LUNC DAO and Bull.BnB reveals whales as the real reason behind the LUNA price pump. The whales made money in a $7 pump last month. Now, whales are trying to exit liquidity.
Meanwhile, whales and traders have also exited from TerraClassicUSD (USTC), with the price down over 17% in the last 24 hours.
Terra Classic (LUNC) Price Under Pressure
Terra Classic (LUNC) price is also under pressure ahead of the U.S. CPI data and the U.S. dollar index (DXY) rising higher. The LUNC price is trading at $0.00028. The 24-hour low and high for Terra Classic are $0.00027 and $0.00030, respectively.
LUNC DAO and Bull.BnB agree that LUNA and LUNC are distinct communities. The Terra Classic community does not trust LUNA or Do Kwon.
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.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Peter Brandt Hints at Further Downside for Bitcoin After Brief Rebound
- $1.3T BPCE To Roll Out Bitcoin, Ethereum and Solana Trading For Clients
- Why is the LUNC Price Up 70% Despite the Crypto Market’s Decline?
- CoinShares Fires Back at Arthur Hayes, Dismisses Fears Over Tether Solvency
- Bitcoin Stalls Ahead of FOMC as Analyst Van de Poppe Sees No Break Until Tuesday
- Ethereum Price Holds $3,000 as Bitmine Scoops Up $199M in ETH; What Next?
- Solana Price Outlook Strengthens as Spot ETFs See $15.68M in Fresh Inflows
- Dogecoin Price Gears Up for a $0.20 Breakout as Inverse H&S Takes Shape
- Bitcoin Price Forecast as BlackRock Sends $125M in BTC to Coinbase — Is a Crash Inevitable?
- XRP Price Prediction As Spot ETF Inflows Near $1 Billion: What’s Next?
- Solana Price Outlook: Reversal at Key Support Could Lead to $150 Target
