Luna Classic Hits Highest Since November

The Luna Classic (LUNC) is up 20 percent in the last 24 hours, hitting its highest price point since November.

Luna Classic ( LUNC), with a 20% increase in the last 24 hours It hit its highest price point since November.

Luna Classic is the native crypto asset of the old Terra ecosystem that collapsed in March. The Terra community voted to create a new network with a new Luna token. Because of this, the old Luna token became known as Luna Classic. Today’s price increase for the Luna Classic has been in line with the trend from the beginning of this year so far. Luna Classic is up 30 percent in the last 30-day trading period, making it the most earning among the top 50 cryptocurrencies by market cap.

With LUNC, USTC Price Increased by 60 Percent

This price increase coincided with Luna Classic’s 75 percent increase in open interest, according to Coinalyze. Open interest refers to the number of outstanding derivative contracts for an asset. This is a measure of how much money is flowing into the market for a given asset.

Terra’s former stablecoin, now called UST Classic, also gained 60 percent in 24 hours, making it the highest earner of any token tracked by CoinGecko. The UST virtually lost its value to the US dollar during the collapse of Terra and fell as low as $0.01 during the crisis. UST Classic, which has seen a 90 percent increase in the last month, is currently trading at $ 0.039.

Token prices have been on the rise since the beginning of the year. The value of the crypto money market, which lost its value in November, has again exceeded 1 trillion dollars with this year. This increase in USTC and LUNC prices also acted in line with the current situation of the crypto market.