New Terra LUNA Records 3,300% Spike in Trading Volumes as Price Triples, What Is Happening?

, created after the network's implosion in May, has seen an impressive run-up in the last 24 hours. The token's price increased by more than thrice, rising from a low of $1.91 to a high of $7.82 on Sept. 9. The trend continued on Saturday, with the price of LUNA remaining above the $6 level.

LUNA is currently trading at $6.40 after reaching intraday highs of $7.20, up more than 167% in the past 24 hours on significantly higher trading activity. At the time of writing, trading volumes were up a staggering 3,300%. LUNA is also ranked as the 57th largest cryptocurrency in terms of market capitalization.

Following the Terra ecosystem collapse, the community adopted Proposal 1623, which led to the creation of a new chain and the launch of an airdrop of the new tokens for ecosystem participants. On May 28, 2022, the genesis block of the new chain was launched to handle future transactions under the name Terra, replacing the previous Terra Chain, which was renamed Terra Classic . Additionally, the original native token was rebranded to LUNA Classic .Crypto market observers are surprised by LUNA's unusual price movement because there hasn't been any network-specific news or development that would spark excitement among retail traders.

Binance also expanded support for LUNC by adding it as a new borrowable asset on Cross Margin. Binance Futures also says it will launch LUNA perpetual contracts with up to 25x leverage Sept. 10.

So miners 🔥 have been hiding this for long time,

🤍🤍🤍🤍lunc

lunc LUNCcommunity

Uniswap need to ban this trick

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