In the cryptocurrency world, USTC and LUNC, two cryptocurrencies belonging to the Terra Classic ecosystem, recently attracted significant attention among cryptocurrency market enthusiasts, as the USTC cryptocurrency witnessed a surge, resulting in a surge in the APR when betting.
The expected increase in APR on staking has created a buzz in the cryptocurrency space as investors and traders mainly recognize the advantages of staking cryptocurrencies, mainly due to passive income reasons.
Simultaneously with the increase in APR when staking, the two cryptocurrencies witnessed a phenomenal price increase in the past few days. However, the tokens saw a substantial decline in the last twenty-four hours.
APR on Bet Raises
According to a recent post by X from the Terra Classic community, the APR when betting is currently valued at 29.6%. Additionally, LUNC staking rewards include USTC, according to data shared by validator.info, a platform that displays on-chain metrics.
Aside from this, an X user also confirmed the availability of USTC at the APR, sparking speculation within the broader crypto markets.
Cryptocurrency staking potentially helps regulate and validate transactions on any blockchain, offering help in keeping the overall network stable, along with an incentive for cryptocurrency market enthusiasts to earn passive income.
Furthermore, the total value of LUNC coins staked to date amounted to $99.99 million.
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LUNC and USTC Price Drops
At the time of writing, LUNC price witnessed a substantial drop of 14.84% in the last twenty-four hours, reaching $0.00009603 today, November 28. However, in the last seven days, the token witnessed a phenomenal rise of 27.70%. Furthermore, the token saw a colossal rise of 49.23% over the past month.
The highest price observed for the token during this period was assessed at $0.0001241 as of writing.
USTC price also saw a significant decline of 23.95% in the last twenty-four hours, reaching $0.0406 today. However, the token showed a phenomenal rise of 205.53% in the last seven days. Furthermore, the cryptocurrency also saw a rise of 233.95% over the past month.
The highest price observed by the USTC during this period was assessed at $0.07324.
In addition to the price drop witnessed today by Terra Classic-backed tokens, USTC and LUNC showed a dramatic jump in their prices in recent days following the recent strategic acquisition of millions of USTC by Terra Classic Labs. The acquisition appears have caused a domino effect, which also drove up the price of LUNC.
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