NewsletterBreaking: 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.
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
- 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
- Bitcoin Hyper Presale Review: How Utility is Unlocked With ZK-SVM Rollup
- Morgan Stanley Turns Bullish, Says Fed Will Cut Rates by 25bps This Month
- ETF Expert Nate Geraci Says Bitcoin Still Lacks Proof of Digital Gold Status
- 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
