The Joint L1 Task Force (L1TF), comprising Terra Classic (LUNC) Core Developers, successfully executed the much-anticipated parity upgrade on June 14, 2023. This significant event became possible with the approval of Proposal No. 11561 by the Terra Classic Community, paving the way for the smooth implementation of this crucial update.
Will LUNC Rise?
Intriguingly, Terra Classic rose to prominence in the crypto asset world quickly, demonstrating an impressive value gain over seven days in the volatile environment of the declining crypto market. In particular, the industry giant, Binance, underpinned its importance by pledging support for this transformative upgrade.
However, while Terra Classic distinctly experienced the unfortunate privilege of being one of the worst performers of the day, the circumstances surrounding the coin brought about an unexpected turn on June 16. Consequently, this development created some uncertainty, leaving Terra Classic and indeed LUNC investors momentarily bewildered.
In the midst of this turbulence and ambiguity, investors turned to machine learning algorithms for an answer to discern the potential price point of this crypto asset by the end of the month. Additionally, they consulted the views of the LUNC crypto community on CoinMarketCap and utilized their predictions for the token’s price on June 30.
Terra Classic Price Latest Status
The community set the average price for LUNC at the end of the month at $0.0001434; this represents a +53.8% increase from its current price at the time of writing. These collective price prediction votes continue to serve as a compelling indicator of market sentiment, shedding light on the prevailing sentiment surrounding Terra Classic and its expected future performance.
Currently, LUNC is trading at $0.00009506, recording a drop of 1.72% on the day and a total of 3.03% for the week. In the Terra Classic ecosystem, the token has a solid support level at $0.00008, signaling a level where significant buying interest historically emerges.
Furthermore, LUNC could encounter a challenging resistance level at $0.00011, potentially indicating a price point where significant selling pressure has historically obstructed further upward movement. The overall valuation of the Terra Classic project currently stands at $555 million.
