Terra: USTC and LUNC go off


Over the last 24 hours, crypto asset prices have improved as the global cryptocurrency market capitalization rose 1.9% to $1.07 trillion today. Interestingly, the two so-called “defeated” tokens of the Terra blockchain, now called terraclassicusd (USTC) and luna classic (LUNC), have seen significant gains. LUNC is up 8% over the last 24 hours and the formerly stablecoin USTC is up 42.2% against the US dollar on Tuesday.

Following Do Kwon’s Recent Interview, Classic Terra Token Sees Market Resurgence

For some mysterious reason, the two currencies associated with the Terra Classic network – terraclassicusd (USTC) and Luna Classic (LUNC) jumped significantly in value on Tuesday. The market moves follow Do Kwon‘s recent interview with Coinage, in which the Terra co-founder discussed the possibility of a mole within the Terra organization.

“If you ask me if there was a mole in TFL, probably yes. If someone tried to take advantage of that particular opportunity, I’d say the answer is: ‘Yes.’ But if those opportunities did exist, it is the fault of the person who presented those vulnerabilities in the first place,” Kwon explained in his interview. “I, and only I, am responsible for any weakness that may have been present for a short seller to start taking profits.”

Four days later, both USTC and LUNC are seeing significant gains compared to a large number of coins within the crypto economy. LUNC price is up 8% today, and USTC is up 42.2% over the last 24 hours. USTC has seen $65,310,430 in global trading volume today, while LUNC has seen $60,659,973. In addition to the rise in classic coins, the new Terra Phoniex blockchain network asset LUNA is up 9.4% over the past day. However, compared to the old classic coins, LUNA’s $32,205,006 is half the daily volume of LUNC and USTC.