Terra Classic reclaims $1 billion market cap as LUNC rallies 25% in a week

Terra Classic (LUNC), despite a massive drop in value to the collapse of the Terraform labs ecosystem, is beginning to recover.

In fact, despite the instability of the markets, LUNC has recovered a market valuation of $1 billion as of December 27 for the first time since December 14.

The milestone comes off the back of a Terra Classic rally which started on December 26, with LUNC now changing hands at $0.00017, up 13.95% in the last 24 hours and a further 27.26% across the previous week, with a total market cap of $1.014 billion after adding over $220 million in seven days.

LUNC rallies among new proposal

The most recent rally occurred when the community is voting on a new plan that would overturn a decision to move 50% of all LUNC burns to a community development pool.

Following the upheaval that occurred inside the Luna Community, a fresh proposal put out by the associate professor of computer science at Drexel University; Ed Kim, is gaining traction. Indeed, Proposal 11168 (Joint L1 Task Force) is now up for voting, which is one of the factors driving up the price of Luna Classic.

Conversely, the machine learning system at PricePredictions projects a negative development for LUNC. According to this prediction, the value of LUNC on the market on January 1, 2023, might be as low as $0.000126.

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