By: Wearemoneymaker September 5, 2022
In spite of promises to revitalize the business and entice investors back, Terra LUNA Classic (LUNC) is still rising.
Since August 26, LUNC has increased by more than 2,400%, reaching a high of $0.00031131................
Following the UST de-peg in May, the Terra ecosystem died. During the panic, the stablecoin fell as low as $0.006.
Despite efforts to re-establish its peg price, UST is presently trading at $0.03458, far below the $1 mark.
A generous staking system, which went live on August 27, is at the heart of this resurrection. At debut, the staking ratio was 2.6% of the total supply.
The staking ratio, however, keeps increasing. @LuncStaking Bot reports that the current ratio, which is 7.5%, has virtually quadrupled in less than two weeks.