LUNC and USTC Soar Again, Crypto Market Begins to Be Turbulent

LUNC and USTC crypto assets experienced a price spike. (Photo; Doc. Zipmex)

JAKARTA - The crypto market has experienced dynamic movements in the last few days. Two tokens that stole the attention are Terra Luna Classic (LUNC) and Terra Classic USD (USTC), which are part of the Terra Classic ecosystem. Both tokens experienced significant price increases, but also high fluctuations.

LUNC, the updated version of the original Terra Luna, saw an incredible 26% rise over the past week. The spike peaked on November 27, with the token reaching $0.000128 (IDR 1.97) before momentum slumped, the price dropping to $0.000095 (IDR 1.46). Despite this decline, LUNC recorded a significant increase of 27.70% over the past seven days and a more impressive increase of 49.23% over the past month.

Likewise, USTC, a stablecoin that is tied to the dollar and has remained linked since the 2022 crash, stole the show with a gain of more than 200%. Despite peaking at $0.078 (Rp. 1,199.85), the price adjusted to $0.03147 (Rp. 484.32) before setting its support point.

Nonetheless, USTC recovered with a gain of 205.53% over the past week and a gain of 233.95% over the month. Additionally, at the time of writing, USTC managed to negate the bearish pressure by surging by 15.90% to $0.046125 (IDR 710.67), according to CoinStats.

One of the main drivers of this price movement was the recent strategic acquisition of USTC by Terra Classic Labs, which also had a positive impact on LUNC's value. Despite experiencing a recent negative trend, a decline of more than 20%, USTC shifted to bullish momentum in the past day. This revival was attributed to LUNC's bullish recovery after Bitcoin (BTC) surged past $38,000 (IDR 585.87 million).

Despite being highly volatile, these two tokens have attracted significant attention within the crypto community. Analysts from Santiment suggest that the initial price rally of LUNC and USTC may have been fueled by the Fear of Missing Out (FOMO) among investors. However, they also warn that high volatility could pose risks for unwary traders.

However, the crypto market is still unstable and is influenced by various factors, both internal and external. LUNC and USTC are examples of tokens that can provide opportunities, but also risks, for investors. Therefore, it is important to conduct in-depth research and careful analysis before deciding to enter the crypto market.