Breaking: Terra (LUNA) Price Explodes Over 200% And Hit Almost $7, Here’s Why

The Terra (LUNA) price has almost hit $7, skyrocketing over 200% in just a few hours. The price rally is backed by a massive trading volume of over $3 billion, up 850% in the last 24 hours. Recently, the Terra community successfully pushed the Terra Classic (LUNC) price to the $0.0005 target, a rally of 300% in 10 days. A LUNA price of $10 may be seen soon.
Terra (LUNA) Price Skyrockets, Enters Top 60 Crypto List
All Terra tokens are witnessing a massive pump as the Terra community aims for a historical comeback. The Terra Community is pushing the Terra (LUNA) price to the $10 target.
Similar to Terra Classic (LUNC), the daily trading volume of Terra (LUNA) jumped over $3 billion in just a few hours. The 24-hour low and high are $1.90 and $6.91. Thus, an over 200% jump was recorded, which pushed the price to almost $7.
Moreover, Terra has now entered the top 60 crypto list and ranks 58th on CoinMarketCap. The market cap of LUNA is $760 million. Yesterday, the community pushed Terra Classic (LUNC) to hit the $0.0005 target, making LUNC rank in the top 30 crypto list.
As per data by Coinglass, among $13 million in total LUNA liquidations in the last 24 hours, over $11 million in shorts were liquidated. Okex, CoinEx, and Huobi account for almost 80% of shorts liquidated. It pushed the price to rally higher.
At the time of writing, the LUNA price is trading at $5.87 after a slight profit booking.
Terra Classic (LUNC) Price Recovery
The Terra Classic (LUNC) price has skyrocketed 37,000% since the Terra-LUNA crisis. The community has successfully hit the $0.0005 target and now looks to hit $0.01.
Moreover, several exchanges including Binance, KuCoin, Huobi, MEXC Global, Gate.io, CoinInn, and others have announced support for the Terra community’s 1.2% tax burn proposal. The proposal is under voting, and current voting shows the community and validators have already approved the proposal.
The community hopes Binance will soon implement the 1.2% tax burn on off-chain activities such as spot and margin trading.
- ASTER Token Rockets Over 10% in an Hour as Binance Announces Spot Listing
- Whale Dumps Massive $55 Million in XRP to Ripple as Coin Falls Below $3?
- Aster Token Crashes 10% On DEX Integrity Issues Ahead of Airdrop, What’s Happening?
- Spot Bitcoin ETFs Record 2nd Best Weekly Inflows Ever, Bloomberg Analysts Bullish
- Michael Saylor Says “No New Orange Dots” Pausing Bitcoin Buys as Holdings Hit Record $79B
- Dogecoin Price Rebounds 15% From Buy Zone as Whales Add 30M DOGE – Can Bulls Push Beyond $0.30?
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?