For some time now, the crypto market has been following the downside rally; with the crash of bitcoin and the top most altcoins, the entire market was shaken.
However, the two Terra Blockchain-regulated crypto assets, LUNC (Luna Classic) and UST (TerraUSD) have recovered from the blow. A 96.3% rise was noticed in LUNC, and a 472.4% gain was witnessed in UST in the current week.
Investing in crypto assets is never wrong, and the LUNC and UST have proven it to their investors. Their value has been constantly on the rise against the US dollar.
From October 2020 until May 2022, UST was a stablecoin and held a $1 parity. But, due to the crash witnessed in the overall crypto market, the value of UST dropped to $0.006 per unit.
This week, we saw the brilliant performance of UST that jumped by 617.5% from the range, and now it has swelled somewhat around 472.2%, with the current value of $0.0926 for a single unit.
As Terra introduced a new token penned as LUNA, Luna Classic was abbreviated as LUNC. The value of LUNC was plummeting way before May, but in the last four days, we noticed a splurge in the price of the cryptocurrency, evaluated at $82 for a unit.
During the last seven days, LUNC has risen 96.3% and the once-stable coin UST has increased 472.4% this week.#Terrablockchain #Terra #blockchain #currencies #terrausd #UST #luna #LUNC pic.twitter.com/bla6xityja
— HASHMAX (@hashmax_mining) July 1, 2022
According to the reports received from crypto analysts, LUNC was valued at $545.87 daily, whereas UST recorded an all-time high of $522.60 million within 24 hours. Also, UST and LUNC are surging because Terra has introduced the Anchor Protocol System on the Terra Wallet, which promises a return of 16.26% annually.