Terra Classic (LUNC) Community News Shadows Do Kwon Crisis?

Terra Classic (LUNC) Community News Shadows Do Kwon Crisis?

Even as the noose tightens around Terra Luna crisis, positive news is apparently keeping the Terra Classic community motivated. In a latest, the authorities have arrested Terra‘s head of general affairs. After getting a bench warrant issued against him, the South Korean prosecutors’ office made the move. Meanwhile, the Terra Classic (LUNC) community is highly supportive of the cryptocurrency with high social activity.

Massive Social Dominance With Terra Classic News?

Despite the regulatory and judicial pressure around Do Kwon’s activities, the LUNC community showed promising interest. In the past one month, Terra Classic’s community skyrocketed its activity in terms of social mentions. This shows how active and involved the community is in the project. According to crypto social intelligence platform Lunar Crash, Terra Classic showed massive social activity in last one month.

There was a jump by over 150% in Terra Classic (LUNC) social dominance. Similarly, there was a huge increase over 136% in social engagements in the last one month. Over the same time frame, the LUNC price improved massively thanks to a short price rally last month. As of writing, the LUNC price stands at $0.000294, down 0.42% in the last 24 hours, according to price tracking platform CoinMarketCap. For most part of the last 30 days, the cryptocurrency maintained a price range of $0.000091. At one stage, the LUNC market cap rose nearly six times from under $600 million to $3.60 billion in the space of under three weeks.

How do you explain this? Look at Terra Classic’s mooning community activity over the past month. Terra Classic one month activity:

Social mentions: 2.12 million    +153.3%
Social engagements: 1.9 billion +136.7%
Social dominance: 4.07%           +153.3%

Another LUNC Bull Run Soon?

Meanwhile, a LUNC investor by name Bull.BnB expressed confidence in a price rally very soon. Earlier this month, crypto exchange Binance said it sent over 5 billion Terra Classic (LUNC) tokens to the burn address. Following the burn announcement, the LUNC price rose significantly. Going forward, more news around Terra Classic (LUNC) could lead to price rise, contrary to the larger sentiment of crypto market.

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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