Terra Classic (LUNC) Tops Gainers List with 7% Surge as Proposal for Binance to Burn USTC Passes

Terra Classic (LUNC) is now the biggest gainer among the 100 largest crypto assets over the past 24 hours, with a 7% increase amid the passing of a proposal for Binance to burn USTC.

Data  from the price-tracking tool CoinMarketCap (CMC) indicates that LUNC has increased by 7.89% over the past 24 hours. This makes it the biggest gaining asset among the top 100 crypto tokens by market cap in the last 24 hours.

LUNC’s recent upsurge began on Sept. 19 amid prevailing uncertainty plaguing the broader market. The asset has registered three consecutive winning sessions since Sept. 19, intending to seal a fourth one, having increased by 3.15% today.

Terra Classic  leveraged the rally to surge to a high of $0.00006435 today before facing resistance. This value marked LUNC’s peak this month. Before now, the asset had continued to trade below the $0.000060 mark since falling from it on Sept. 16. 

Despite the price increase, LUNC remains below the 50-day EMA ($0.00006537). In addition, the asset is a long way from the 200-day EMA currently stationed at $0.00009879. This trend signals bearish momentum in the short and long terms despite the modest rally.

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