Terra Classic (LUNC) Prices Surge Over 72.81% , Here’s Why

Terra Classic (LUNC) is going great guns and in the past one day it has surged by +72.81% and was changing hands at $ 0.00027991. When reports last came in Terra Classic (LUNC) posted a inter day trading volume of $1.04 billion. With a live market cap of $ 1.82 billion, the coin currently ranks at #208, as per CoinMarketCap’s data.

Factors Driving The Prices Of Terra Classic (LUNC)

The crypto market is very volatile and a number of reasons can be attributed to the sudden surge in the Terra Classic (LUNC) prices. One reason which stands out could be the LUNC’s V22 network upgrade. The latest network upgrade by Terra Classic developers once accomplished will enable investors to immediately take the stakes in LUNC. The update known as V22 update also enable features in blockchain which will act as a catalyst for the LUNC to break above the extended consolidation. Going by the rumors, 69% of the population has voted in favor of the update. If the update comes through it will provide the much-needed fillip to the long delayed stalled project.

Binance, the number one crypto currency exchange has stated that it is suspending deposits as well as withdrawals to support the upgrade. It will once again start taking deposits and enable withdrawals once the upgrade is successfully completed. It is in line with the aspirations of the Terra community and their upbeat mood could also be one of the reasons for the surge in Terra Classic (LUNC) values.

Roll Out of Governance Alert Bot

The Governance Alert Bot was rolled out on 29 August and will let the Terra community know all about the all the governance activities linked to Terra (LUNA). This news also had a positive impact on Terra prices and at one point the prices jumped by 8% with a trading volume of over 45%.