Blockchain token, which caused all cryptocurrencies to fall in May, grew by 2400% in 7 days

Terra LUNA Classic (LUNC), the original blockchain of the Terra (LUNA) token, has grown by 2400% since August 26. However, at the time of writing, LUNC has fallen by 17.39% and is trading at $ 0.2 273.

According to the researchers' analysis, the surge in LUNC’s value is caused by the growth of the betting ratio: at the time of launch, this ratio was 2.6% of the total supply of coins. Currently, according to LuncStaking_Bot, the current betting ratio has almost tripled in less than 2 weeks and is now 7.5%.

It is not known whether LUNC will be able to maintain its position and attract new investors. However, No Worries strongly recommends against investing in Do Kwon's projects, including Terraform Labs.

In early June, Terraform Labs' attempt to recover from the TerraUSD (UST) token crash ended in failure, as the LUNA 2.0 cryptocurrency token dropped 85% in value since its release. The fall began immediately after the airdrop, where new tokens were distributed to Luna Classic token holders — the withdrawal of funds from the project was so serious that the price of the cryptocurrency dropped by 67% within a few hours.