Terra Classic (LUNC) Number of Holders Increased by Over 500% in a Month

Terra Classic (LUNC) Number of Holders Increased by Over 500% in a Month

In Brief

  • The number of people holding Terra Classic (LUNC) has increased by more than 500% in the past month.

  • This is possibly due to the plummeting price and lack of understanding of how the UST pegging algorithm worked.


The number of people holding Terra Classic (LUNC) has increased by more than 500% in the last month.

In a matter of days, the market saw billions of dollars wiped out. This was an event that has never been seen before in recent history. Two top cryptos by market cap were destroyed and wiped from existence in less than a week.

This event caused a lot of new investors to flock to the now-old network, Terra Classic (LUNC).

LUNC is the old LUNA token. It was created before the separate blockchain – Terra 2.0. Some people still refer to it as the original LUNA.

Coinmarketcap data shows an incredible 560% increase in the number of unique addresses holding assets in the Terra Classic chain over a one-month span.

The price crash could be due to a lack of understanding of how the UST pegging algorithm works.

Some investors may have bought LUNA for very cheap, in the hope that it would go up in value once the algorithm was fixed. Unfortunately, this didn't happen.

Important Disclaimer: This material is for informational purposes only. None of the material or any material on the stack.money website should be interpreted as investment advice. Stack does not make any express or implied warranties, representations or endorsements whatsoever with regard to the material or related information. In particular, you agree that Stack and it's owners assume no warranty for the correctness, accuracy and completeness of the material.