Terra (LUNA) Makes Dizzying 200% Surge Following LUNC Rally

Terra (LUNA) Makes Dizzying 200% Surge Following LUNC Rally
  • LUNA price is seeing a 200% price surge only today.
  • The LUNA pump follows LUNC’s phenomenal rally since last week.
  • Some claim that LUNC whales have sold their position to make an entry in LUNA.

Terra (LUNA) is currently making a dizzying price surge today, reaching up to almost $7, according to CoinGecko. Trading has become even more remarkable on Binance, as the price reached as high as $7.7 before simmering down to almost $6.

This movement translates to a 200% increase since the last 24 hours. Interestingly, many in the crypto space were not anticipating this movement.

LUNA/USDT 1-day chart (source: TradingView)

As seen on the chart above, LUNA price was trading relatively stable since the start of August. The trading volume was also very low on Binance, which means there was not much trading activity nor buyer interest lately.

However, some have called out this rather unexpected movement, with others alleging that Terra Luna Classic (LUNC) whales have been involved.

Twitter user @lunaclassic_co claims that whales have sold their LUNC to make an entry in LUNA. The Twitter account also maintained that many would follow suit, both in selling LUNC and in buying LUNA.

Regardless, LUNA’s 200% price surge follows LUNC’s phenomenal rally since last week. At the time of writing, LUNA is trading at $5.98, according to CoinGecko. Meanwhile, LUNC is changing hands at $0.00045, which translates to a 9% decline.

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Jesus covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.