LUNC (Terra Luna Classic) continues to experience severe losses as its market capitalization took a heavy hit earlier today.
On November 1, the asset’s overall valuation stood at $1.60 billion but in just a span of 24 hours, the value declined by almost 10% as it settled at $1.47 billion, losing $130 million in such a short time frame.
At press time, however, according to tracking from Coingecko, Terra Classic’s market cap slightly recovered as it hovered around $1.53 billion, trimming losses to just almost $70 million.
Meanwhile, LUNC, the chain’s crypto asset, is trading at $0.00022394 and is now down by 8% over the last seven days.
LUNC At The Mercy Of Sellers?
LUNC continues to feel the negative effects of being at the mercy of sellers as it remains bearish despite most altcoins experiencing price surges courtesy of a bullish momentum initiated by the crypto market towards the end of October.
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