Will Terra Classic Price 5X With This New Development?

The Terra Classic (LUNC) cryptocurrency price appears to have finally gotten a boost from Binance, pushing it to a new all-time high.

Just a few days into the new year, the price of Terra Classic (LUNC) reversed its downward trend and attracted some mild buying near to the level of $0.0001520. Due to a number of fundamental variables and a breakout above the three-month declining channel, the price of LUNC has recently climbed dramatically. The LUNC price, however, might well experience a fresh wave of retail interest as a result of the most recent update from Binance, which might drive the price to previously unheard-of heights.

Warning Signs for LUNC Are Finally Removed

The long-standing cautionary labels that were placed on the token have now been removed, which is a surprise decision by Binance, the largest cryptocurrency exchange in the world. Previously, a notification claiming that the cryptocurrency had received "bad news/coverage recently" greeted any user attempting to purchase or sell the LUNC token on the exchange.

Due to the negative mood surrounding the project and token, this discouraged traders and investors from engaging with the cryptocurrency out of fear that they could lose money or positions. When Terra (LUNA) underwent its infamous UST depeg, which sent the price of the LUNA token on a death spiral, Binance first issued the warning statement at the start of 2021.

The most recent threats came when Daniel Shin, one of the Terra co-founders, was ordered to be arrested by a court in South Korea. Additionally, the Korean government has filed criminal charges against Do Kwon, the principal developer and designer of Terra. Due to this, many centralised exchanges—Binance being the first—halted deposits and withdrawals for the alternative currency.

One of the most well-known LUNC validators and community evangelists, LUNC DAO, was the first to launch a campaign to denounce the hazard warnings and an effort to remove them. The LUNC supporter tweeted Binance and CZ, the CEO of Binance, several times to alert them to the situation. Furthermore, Binance has now reacted to the community's desire for LUNC as of this morning.

Price Movement of Terra Classic (LUNC) in Crypto

With this most recent development, the price of Terra Classic (LUNC) cryptocurrency is anticipated to significantly increase as new investors pour into the digital currency. The elimination of the warning indicators will boost investor interest and subsequent purchases because Binance is now one of the primary crypto exchanges that drives LUNA's trade volume. The price of LUNC might surge 2X to 5X its current value as a result of Binance opening the floodgates for the cryptocurrency, even though it won't happen immediately and might take some time.

Price of Terra Classic (LUNC) in Crypto

The announcement has caused the price of LUNC to rise as of this writing to $0.00017212. And in accordance with CoinGabbar's cryptocurrency market tracker, this results in an increase of 2.08% over the previous twenty-four hours as opposed to a decline of 3.2% during the preceding seven days.