The Terra Classic network, at the peak of its development, was seen as the next frontier of blockchain development with a promise to provide decentralized money at scale for the decentralized finance market. Terra Luna Classic (LUNC) was trading for over $100 per token, and TerraClassicUSD (USTC) added billions in market cap.
However, it all came crashing down in May when USTC de-pegged. Now both are worth less than pennies. The community has since assumed control of the chain, and against all odds, they hope to chart a path to recovery. For many community members, LUNC reclaiming the $1 price point is not just a huge milestone but also significantly feasible. At least, that was the narrative fueled by influencers when the community took over the chain.
At press time, LUNC is trading at the $0.000188 price point, up 14.5% in the last 24 hours. At the current price, the token will have to see a 534,100% spike to clinch the $1 price point.
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