• Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
What's Hot

How Rising Tobacco Prices are Affecting Smoking Cessation Around the World

March 8, 2023

Is it possible to buy NFT and help the Ukrainian army at the same time?

February 17, 2023

Ukraine Stands Strong: The SpendWithUkraine.com Initiative

February 2, 2023
Facebook Twitter Instagram
  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
CryptodailyNews24
  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
CryptodailyNews24
Home»Crypto»Terra: prices of UST and Luna Classic surge in last 7 days
Crypto

Terra: prices of UST and Luna Classic surge in last 7 days

Donald MunnBy Donald MunnJuly 2, 2022Updated:September 29, 2022No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The former stablecoin TerraUSD (UST), also known as TerraClassicUSD (USTC), and Luna Classic (LUNC), have seen a price pump over the past 7 days, with UST rising over 470% and LUNC over 96%. 

Terra: the new USTC and LUNC tokens register price pumps

ust luncPrice rebound by USTC and LUNC

In this past week, the former stablecoin of TerraUSD (UST), also known as TerraClassicUSD (USTC), and Luna Classic (LUNC) recorded big price pumps. UST rose 472.4%, while LUNC rose 96.3%.

Something mysterious, but also possible in the crypto world, where assets given up for “dead” could instead “resurrect”.

Indeed, in the case of UST, after its 1:1 peg to the US dollar broke, the former stablecoin saw a collapse in its price, which hit a low of $0.006 on June 18, 2022. 

In the past 7 days, however, the price of UST has risen from $0.011 to the current $0.044, peaking at $0.090 on June 29, 2022.

On the other hand, LUNC, the new name for Luna Classic because Terra’s new token is called LUNA, has seen its price rise from $0.000057 on June 26 to $0.00016 yesterday, to be at the time of writing $0.00011. 

Terra Classic and the proposed 10% universal minimum fee to validators

The price pump over the past 7 days for Terra tokens is also a signal that the community is still active, as are its validators. 

Just yesterday, a governance proposal was introduced that would give validators a 10% universal minimum fee. 

One validator in particular, named LUNC DAO, told his 29,000 Twitter followers that he was against the 10% minimum fee.

1/ It's been interesting to observe how much envy certain $LUNA validators have displayed towards us lately

They are now proposing to set a universal minimum commission of 10%— meaning all validators receive this, even if they bring NO value to the community

This is disgusting

— 🕊🔥 𝕃𝕌ℕℂ 𝔻𝔸𝕆 🔥🕊 (@LUNCDAO) June 30, 2022

“It’s been interesting to observe how much envy certain $LUNA validators have displayed towards us lately They are now proposing to set a universal minimum commission of 10%— meaning all validators receive this, even if they bring NO value to the community. This is disgusting”.

Currently, 37.04% voted in favor of the proposal and 24.80% said no to the idea. Meanwhile, the new Terra token (LUNA) has seen a pump of only 7%, but against a last month decline of 76.6%. 

Manipulation of exchange prices and DeFi 

Recently, it emerged that Terra Labs may own $3.6 billion in Tether (USDT) and TerraUSD (UST) tokens used for exchange price manipulation and DeFi, or money laundering.

The news is still under review by authorities, who are investigating with Binance, Coinbase, Huobi and Kucoin exchanges. 

The post Terra: prices of UST and Luna Classic surge in last 7 days appeared first on cryptodailynews24.com.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Donald Munn
Donald Munn
  • Website

Related Posts

The best PR films to inspire your crypto marketing strategy

January 2, 2023

Japan: tax breaks proposed for crypto investors

September 1, 2022

Bitcoin may have hit its low after Powell’s speech

September 1, 2022

Ripple’s plans to tokenize land in Colombia did not take off

September 1, 2022
Add A Comment

Comments are closed.

Advertisement
Top Posts

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

The latest news about Bitcoin, ICO, blockchain and fintech.

Top Insights

How Rising Tobacco Prices are Affecting Smoking Cessation Around the World

March 8, 2023

Is it possible to buy NFT and help the Ukrainian army at the same time?

February 17, 2023

Ukraine Stands Strong: The SpendWithUkraine.com Initiative

February 2, 2023
Get Informed

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

  • Home
  • Blockchain
  • Crypto
  • Defi
  • NFT
  • Trading
  • World News
  • Contact
© 2023 cryptodailynews24.com Submit news release

Type above and press Enter to search. Press Esc to cancel.