- Terra Classic USD and Terra Luna Classic tokens are trending among market participants after overnight price gains.
- USTC rallied to $0.078 local top after its 2022 collapse, garnering hope among traders.
- LUNC price noted a pullback after yielding 26% weekly gains for holders.
Terra Luna Classic (LUNC) and Terra Classic USD (USTC) both tokens were trending among traders after noting a surge in their price. Santiment analysts believe these tokens are gaining popularity after their collapse, likely to see a revival.
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LUNC and USTC prices might recover
In 2022, sister tokens Terra USD (UST) and LUNA suffered an implosion when UST depegged. In the aftermath of the event, Terra LUNA was revived as Terra LUNA Classic (LUNC). Terra Classic USD remained de-pegged and the community has been brainstorming ways to establish the stablecoin’s $1 peg again.
Based on data from crypto intelligence tracker Santiment, two tokens, LUNC and USTC noted milestone price rises in the past week. LUNC price rallied 26% in the past week while Dollar-pegged stablecoin USTC attempted a recovery and climbed 200% in the same timeframe.
Milestone weekly gains in the two tokens have resulted in LUNC and USTC emerging as top trending cryptocurrencies on Santiment’s tracker. It’s important to note that the two tokens have experienced a pullback in their prices since then.
LUNC and USTC are trending
After reaching a local peak of $0.078, USTC price corrected to $0.0404 on Binance. The stablecoin is still far from its $1 peg. LUNC price declined to $0.000095 from its November 27 local top of $0.000128.
Analysts at Santiment believe that the milestone price rallies in the two cryptocurrencies are likely indicators that market participants are experiencing the fear of missing out (FOMO) on these tokens’ gains and this has driven the assets to the top of the list, ranking above Bitcoin, and Cosmos (ATOM).
