A tremendous trade volume of over $3 billion, up 850% in the previous day, supports the price increase. The Terra community just succeeded in driving the Terra Classic (LUNC) price to the $0.0005 objective, a 300% increase in just 10 days. Soon, a LUNA price of $10 might be observed.
Price of Terra (LUNA) Soars, Breaking Into Top 60 Crypto List
As the Terra community strives for a historic recovery, all Terra tokens are seeing a significant pump. The $10 aim is being pushed by the Terra Community for the Terra (LUNA) pricing. Similar to Terra Classic (LUNC), Terra's (LUNA) daily trading volume increased by more than $3 billion in a short period of time. The daily low and high are $1.91 and $7.6, respectively. The price increased by nearly 200% as a result, reaching almost $7.
Additionally, Terra is currently listed among the top 60 cryptocurrencies and is ranked 58th on CoinGabbar. LUNA has a $760 million market capitalization. Terra Classic (LUNC), which ranks among the top 30 cryptocurrencies, reached the $0.0005 target yesterday thanks to community support.
During $11 million in shorts were liquidated out of the $13 million in total LUNA liquidations over the past 24 hours, according to CoinGabbar data. Nearly 80% of liquidated short positions are held by Okex, CoinEx, and Huobi. It caused the price to rise in a rally.
The LUNA price is currently trading at $5.05 after a small profit was booked.
Terra Classic's Price Recovery (LUNC)
Since the Terra-LUNA crisis, the price of Terra Classic (LUNC) has risen by a staggering 37,000%. The group has reached its goal of $0.0005 and is currently aiming for $0.01.
Additionally, a number of exchanges, including Binance, KuCoin, Huobi, MEXC Global, Gate.io, CoinInn, and others, have declared support for the 1.2% tax burn plan put up by the Terra community. The proposal is currently up for vote, and the results thus far indicate that the community and validators have already approved it.
The community anticipates Binance implementing the 1.2% tax burn on off-chain transactions like spot and margin trading very soon.