This summary text is fully AI-generated and may therefore contain errors or be incomplete.
The price of Terra Classic (LUNC) has experienced a significant surge in recent weeks, outperforming most other cryptocurrencies in the market. In just 30 days, its price has risen by over 300%, pushing its market cap back above $1.5 billion. While this is a positive development, it is still a long way from its previous all-time high market cap of $45 billion, which was achieved in 2021. Following the collapse of Terra in 2022, the price of LUNC (formerly known as LUNA) plummeted from above $100 to less than $0. This decline has continued over the past year, with the LUNC supply increasing to over 6.5 trillion. As a result, the market cap has also suffered. However, the recent price recovery has led to a jump in market cap, although it is still far from reaching its previous peak. If LUNC were to reach its all-time high market cap again, it would represent a significant increase from its current price. However, it would still be far below its previous ATH price of $120. At a market cap of $40 billion, the price of the altcoin would be around $0.007, which is more than a 10x increase from its current price. Nevertheless, this would still be relatively low compared to the price of the new LUNA token, which is already trading above $1. The LUNC community has implemented a burn initiative to reduce the circulating supply of tokens. Although billions of tokens have been burned since the initiative was introduced in 2022, this is only a small fraction of the total token supply, which is in the trillions. Despite this, the community remains committed to burning tokens in order to significantly reduce the circulating supply. In the past seven days alone, over 5.2 billion LUNC tokens have been burned. While the price of LUNC is still far from its previous highs, there is still potential for growth. If the coin continues to perform well in the bull market, a return to the $0.01 level is a possibility. As the cryptocurrency industry expands, it becomes increasingly likely that top coins will surpass the $100 billion market cap, which bodes well for the future of LUNC.