DO KWON IS BACK $15 MILLION
LUNA CLASSIC (LUNC),USTC,LUNA 2.0
This token was among the strongest performers among the top hundred tokens by market capitalization in the past week.
Several tokens associated with Terra's two ecosystems – Terra 2.0 and Terra Classic – more than doubled over the past week, extending this year's gains to more than 10,000% in what could mark one of the best project turnaround stories in the crypto industry.
“Many established Layer 1 (L1) public blockchain networks face significant headwinds; Ethereum faced a DAO hack, Solana experienced a network outage, and Bitcoin experienced a hard fork,” said James Wo, founder of crypto fund DFG in a Telegram message to CoinDesk.
“Despite facing a fatal explosive event, this has not weakened the strength of the community and technology at its core. Terra stands out as a community of motivated and skilled individuals. Through strategic realignment and adaptability, they demonstrated resilience and unwavering faith in the Terra ecosystem. "This is a story worth watching," Wo added.
Three tokens, Luna Classic (LUNC) , terra 2.0 (LUNA) and terraUSD classic USTC, have surged as much as 70% in the past 24 hours, extending their weekly gains to over 300%.
Cumulative trading volume surpassed the $2 billion mark
Terra Classic is the original network created by Terraform Labs. It continues as an independent blockchain rather than Terra 2.0, which was a forked version created after the Terra collapse. LUNA Terra 2.0 is now actively traded on the market, as are LUNC and USTC Terra Classic, its native tokens.
This pump uses various catalysts. Last week, Terraform Labs said it had allocated $15 million to two projects in the Terra ecosystem to buffer liquidity, making certain trading pools on the platform more attractive to on-chain traders.
