TerraClasic price has been a hot topic ever since the asset experienced a steep downfall that led to a rebranding from Terra. Since then the community was pretty confident of the LUNC outperforming the Terra(LUNA), which has been materialized of-let. While the platform is been undergoing various changes, the LUNC price is expected to continue with a significant upswing.
Recently, the TerraClassic developers rolled out a new network upgrade according to which the investors can quickly take the stakes in LUNC. The version V22 update has introduced a staking feature to the blockchain which was the much-needed positive catalyst for the LUNC to break above the extended consolidation.
As the result, TerraClassic (LUNC) price jumped into action and surged more than 100% in the past 7 days.
With the network upgrade, the LUNC price raised massively above $0.00024 and quickly fell into deep consolidation. As the bulls appear to remain slightly passive, the bears jumped in to extract the profits. However, after a brief consolidation, the price may quickly rebound and pull a massive leg up to hit $0.0003.
The recent upgrade has proved to be very big news for the Terra Classic holders. Nevertheless, the asset has a pretty long way to go to reach its highs. On the contrary, some analysts still believe the asset’s upswing may be only for a short time frame as nothing has changed with the asset. Therefore, a notable drop may also be fast approaching for the TerraClassic (LUNC) price ahead.