Luna Classic token price rises to highest level since November

Quick Take

  • Luna Classic has risen 20% today and is now at its highest price since late last year.
  • The collapsed UST Classic stablecoin has surged 60% today.

Luna Classic (lunc) is up 20% in the last 24-hour trading period and has risen to its highest price point since November, according to data from CoinGecko.

Luna Classic is the native token of the old Terra ecosystem that collapsed in March. The Terra community voted to create a new network with a fresh Luna token. As such, the old Luna coin became known as Luna Classic.

Luna Classic up 20% today. Image: TradingView

Today’s price pump for Luna Classic is in keeping with a trend so far this year. The old Luna coin is up 30% in the last 30-day trading period, making it the biggest gainer among the top 50 cryptocurrencies by market capitalization.

This price surge has coincided with a 75% increase in open interest for Luna Classic, according to Coinalyze. Open interest refers to the number of unsettled derivatives contracts for an asset. It is a measure of how much money is flowing into the market for a particular asset.


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UST Classic is the highest crypto price gainer today. Image: TradingView

Terra‘s old stablecoin, now called UST Classic, is up 60% today, making it the biggest gainer among all tokens tracked by CoinGecko. UST virtually lost its peg to the U.S. dollar during the Terra collapse, falling as low as $0.01 during the crisis. UST Classic is now trading at $0.039 and is up 90% in the last month.

The price gains for these old Terra coins are in keeping with the current state of the crypto market. Token prices have been on the rise since the start of the year. The crypto market has crossed the $1 trillion mark, after having fallen below that level in November.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Osato is a news reporter at The Block as part of the crypto ecosystems team that focuses on DAO governance, staking, blockchain layers, and DeFi. He was previously a news reporter at Cointelegraph. Based in Lagos, Nigeria, he enjoys crosswords, poker, and attempting to beat his Scrabble high score. Follow him on Twitter at @OsatoNomayo.


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