Despite its declining utility, investors in Terra Classic (LUNC), the original chain of the defunct Terra (LUNA) token, remain bullish on the digital asset.
Despite the current bearish market conditions, the token appears to be on a bullish upward trend.
According to CoinMarketCap data, LUNC currently has a market capitalization of $965.68 million, an increase of $73.49 million from $892.19 million on November 29.
As a result, short-term buying pressure has influenced the value of LUNC, which was trading at $0.00016 at press time, up more than 2% in the last 24 hours.
The weekly chart shows that the token has increased by more than 8%.