LUNC Price News: The price of Terra Classic (LUNC) suddenly rose by nearly 7% on a moderately green day in the crypto market. The price speculation can be attributed to a number of reasons surrounding the crypto project, which is in a dire attempt to minimize its gigantic supply of 6 trillion tokens and to reinstate the UST peg back to $1.

The crypto community is abuzz with the news of LUNC being the next SHIB, which would see a massive number of buy orders from crypto exchanges and other firms in regard to their reserves. This particular news has been brewing for quite some time now, and caught more steam on Friday.

With reports of crypto giant Coinbase buying LUNC worth $245 million (unconfirmed) flooded social media platforms like Twitter and Reddit; thus pushing the cryptocurrency’s price up for two consecutive days. Moreover, this comes in the midst of market obstacles including an increased number of businesses filing for bankruptcy due to the FTX collapse and the weakening macroeconomic environment.

(By Pratik Bhuyan)