During the past 24 hours, prices of crypto assets have increased as the market capitalization of global cryptocurrency today has hiked 1.9% to touch the $1.07 trillion mark. Impressively, the two so-called ‘failed’ tokens of the Terra blockchain, now known as terraclassicusd (USTC) and luna classic (LUNC), have witnessed noteworthy gains. On Tuesday, LUNC clinched 8% higher during the last 24 hours, and the once-stable coin USTC leaped 42.2% higher compared to the U.S. dollar.
Due to some mysterious reason, these two coins related to Terra’s Classic network — terraclassicusd (USTC) and luna classic (LUNC) leaped immensely in value on Tuesday. The moves in the market followed a recent interview of Do Kwon with Coinage as the co-founder of Terra spoke about the potential mole within the organization of Terra.
“If you’re asking me whether there was a mole at TFL, that’s probably, ‘Yes.’ Whether somebody tried to take advantage of that particular opportunity, I would say that the answer is, ‘Yes.’ But if those opportunities existed, then the blame is on the person that presented those vulnerabilities in the first place,” Kwon explained in his interview. “I, and I alone, am responsible for any weaknesses that could have been presented for a short seller to start to take profit.”
After four days, USTC and LUNC see notable gains compared to many coins within the crypto economy. LUNC’s price rose 8% higher today, and USTC has inclined 42.2% during the past 24 hours. USTC has witnessed $65,310,430 in global trading volume today, while LUNC has witnessed $60,659,973. Additionally, to the rise of classic coin, the latest Terra Phoniex network blockchain asset LUNA is up 9.4% during the last day. However, LUNA’s $32,205,006 is half the size of LUNC’s and USTC’s daily volume compared to the conventional classic coins.
Supporters of Luna classic have a highly active community and are feasibly far more vocal on social media when compared to LUNA 2.0 supporters. There is a LUNC DAO and several of Terra’s classic-centric social media handles to support the traditional chain and old tokens.
While the Terra classic fanatics have been attempting to rally support on Tuesday, the LUNC and UST tokens are still considered “scam coins” and the “ultimate Ponzi.” Furthermore, in the first week of July, these two Terra classic coins hiked significantly, but prices fell flat immediately after the short leap. In July, USTC clinched 470% higher during seven days.
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