- KuCoin announces support for the Terra LUNA Classic (LUNC) network upgrade.
- Terra LUNA price shows strong bullish confluence signals utilizing technical and on-chain analysis.
- Investors should consider Reviewing last week’s 10X Bullrun thesis.
KuCoin Exchange has come out from the woodworks announcing their support for the Terra Classic (LUNC) network upgrade. A memo was issued on the company site with three key arrangements:
The breaking news was cited on the KuCoin exchange website with 3 key arrgangements for the future:
- The Terra Classic (LUNC) network upgrade will occur at the Terra Classic mainnet block height of 9,109,990, or approximately at 22:00:00 on August 26, 2022 (UTC).
- Due to the Terra Classic (LUNC) upgrade, KuCoin will suspend deposit and withdrawal services for Terra Classic (LUNC) mainnet tokens at 21:00:00 on August 26, 2022 (UTC).
- The deposit and withdrawal services of all mainnet Terra Classic (LUNC) tokens will be pending during the upgrade. We strongly recommend not to deposit and withdraw until the upgrade is complete.
Terra's LUNA price has 10x potential
Last week, an on-chain and technical analysis article was written, shedding light on the possibility that Terra’s LUNA classic price could witness a 1,000% increase in profit. Many analysts have rejected the idea that LUNA classic is recoverable, calling the token dead and consequently only focusing on LUNA 2.0 instead.
On-chain metrics display convincing evidence that Luna classic is still very well alive and hints that high-cap bulls are buying. Furthermore, LUNC shows nearly identical technicals to BitTorrent Token’s 2021 bull run, which also flatlined like the LUNA price before rallying 1,000 percent in less than two months.
After last week’s reported uptick of 500 million transactions and this week’s KU-Coin endorsement, it is safe to say that LUNA price still has a future in the cryptocurrency space. Fully reviewing the 10X Bullrun thesis published last week is strongly advised.
In the following video, our analysts deep dive into the price action of LUNA, analyzing key levels of interest in the market. -FXStreet Team
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