How Terra Luna Classic – LUNC Crashed and what happened to the token after

By Bullcoins.info Oct 6, 2023

Introduction

Luna Terra Classic or LUNC, is a popular cryptocurrency that was once valued at over 100$ per token, however in 2018 the price shot down to under 0.1$. This article analyzes and breaks down the reasons for the LUNC crash.

Back when TLC price was soaring the market experienced a sudden crash, the price of Bitcoin shot down along with almost all of the altcoins including this one, along with mass withdrawals from the majority holders resulted in a overall collapse of the currency.

What is the Terra Luna Classic taskforce ?

In 2023 the owner of Luna Classic announced that he will assemble a taskforce to try restarting the currency price. They would do this by burning a large number of tokens lowering the total supply and hopefully increasing the value. However in July 2023, the taskforce “quit” citing internal struggles.

Should you invest in LUNC?

The token itself is accepted on a wide range of exchanges and payment processors. Since the drop , we could see it rise to as much as 0.00015$ and fall below 0.00002$. A lot of users are still HODL-ing it in hopes of a price skyrocket. And at these prices it might not be such a bad idea to hold some LUNC.

What is USTC?

The Terra Luna Stable-coin the USTC (United States Dollar Terra Classic), was using LUNC as a backup reserve currency, thus when the first crashed, the stable coin got unpegged along with it and hit rock bottom prices.

Recently, on July 15th 2023, USTC showcased an almost 100% gain, thus being worth 0.2$. Giving a clear sign to the community that its still not over.

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