Terra Recovery Update: LUNC Price Jumps 24% Amid Developments

Terra Classic (LUNC) token prices have registered a solid recovery over the past 24 hours. The recent price surge has made LUNC one of the top gainers among the biggest 100 cryptocurrencies. Reportedly, Terra recovery is backed by the recent comment of the Terra Chief, Do Kwon.

Terra recovery on the cards?

As per a report, Do Kwon has hinted that a LUNC and LUNC alliance is very much possible. This can be done with an upgrade on the LUNC side.

In a conversation with the developer suggested that LUNC get upgraded to parity. Some of the LUNC apps being built could launch LUNC too. It will be good for builders and the community.

He mentioned that it will be good to have an interchain alliance between LUNC with LUNA. It highlighted that LUNC staking rewards are high and desirable. It added that post crash LUNC holders that made Terra Station wallets for interacting with LUNA too.

Do Kwon addressed these suggestions by replying that forming an alliance with LUNC isn’t hard. He mentioned that it is possible to do as long as a software upgrade proposal can pass from that side.

LUNC on a surge

This has led Terra Classic price to a spike of 24% over the past 24 hours. LUNC is trading at an average price of $0.00025, at the press time. However, its 24 hours trading volume is up by 180% to stand at $1.64 billion.

However, Terra price has also jumped by 6% over the past day. It is trading at an average price of $2.55, at the press time. Its 24 hour trading has registered a spike of over 90% to stand at $294.8 million.

Terra meant to be stablecoin, TerrraClassicUSD 24 hour trading volume also registered a skyrocketing surge of around 100%. It now stands at $49 million. USTC price is up by 6% over the past day. It is trading at an average price of $0.037, at the press time.