Terra Luna Classic (LUNC) and Terra Classic USD (USTC) have recently experienced major price fluctuations. After an impressive rally, both tokens suffered a pullback, attracting the attention of investors and market analysts. However, LUNC and USTC have nullified the bearish trend, with prices up 18% and 15% at the time of publication.
LUNC Roller Coaster Week
LUNC, the revamped version of the original Terra Luna, posted a notable 26% gain last week. This surge peaked on November 27, when the token reached $0.000128 before the momentum faltered and the price fell to $0.000095. Furthermore, despite this decline, LUNC has seen a substantial increase of 27.70% in the last seven days and an even more impressive increase of 49.23% in the last month.
USTC Soars After LUNC Recovery
Similarly, USTC, the dollar-pegged stablecoin that remained unpegged after the 2022 crisis, made headlines with a surge of over 200%. Although it reached a high of $0.078, the price adjusted to an intraday low of $0.03147 before establishing solid support. Despite this, USTC has recovered, up 205.53% last week and up 233.95% for the month. Furthermore, at press time, USTC had reversed downward pressure, rising 15.90% to $0.046125, according to CoinStats.
USTC Price Chart
One of the main drivers of these price movements is the recent strategic acquisition of USTC by Terra Classic Labs, which has also positively influenced the value of LUNC. However, despite the recent negative trend, a decline of over 20%, USTC has gained bullish momentum over the past day. This resurgence is attributed to LUNC’s bullish recovery after Bitcoin (BTC) surpassed $38,000.
Despite these fluctuations, the tokens have attracted significant attention in the crypto community. Santiment analysts suggest that the initial price rises of LUNC and USTC may have been driven by fear of missing out (FOMO) among investors.