"Hmm, is it possible for LUNC to accept the challenge?"
The cryptocurrency market community must have been surprised to see Terra Classic (LUNC) climb 300% in the past 30 days and then perform better which may be able to return its previous all-time market capitalization.
Following the collapse of Terraform Labs in 2022, the price of LUNC formerly known as LUNA plunged from $100 to $0 and it continued throughout the last year especially as the supply of LUNC increased to over 6.5 billion.
There's no denying that LUNC has currently seen a remarkable recovery, but its price is still a long way from its all-time high market cap of $45 billion that it will reach in 2021.
If LUNC manages to return to its all-time high again, then it will be a very significant improvement but it should be noted that the digital asset is still far from the ATH price of $120.
The LUNC community implementing a burn initiative to reduce the amount of tokens in circulation has resulted in billions of tokens being removed from circulation in less than a year.
The streak, LUNC's price rise has been sparked as 83.77 billion tokens have been burned since the initiative was introduced in 2022 as part of its efforts to drastically reduce the circulating supply.
Please note that LUNC can return to the $0.01 level if the price continues to perform well and as the crypto market grows, the digital asset also has the potential to surpass the $100 billion market cap.
As of this writing, LUNC price has surged by 3.87% at $0.00024 in the last 24 hours with a market cap of $1 billion and has recorded a 151.50% increase over the last week.
