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- Coinbase, a leading American crypto trading platform, is reportedly planning to relist Terra Luna Classic (LUNC) on some of its platforms.
- The exchange has allegedly reinstated LUNC swaps on its flagship wallet, hinting at a possible relisting of LUNC soon.
- This news has triggered a price surge of LUNC, indicating a positive market response.
Reports suggest that Coinbase is considering the relisting of Terra Luna Classic (LUNC), causing a surge in the cryptocurrency’s price and market performance.
Coinbase and Terra Luna Classic: A New Development
According to circulating reports on Crypto X, Coinbase Global Inc. is making plans to re-list Terra Luna Classic (LUNC). This news is considered a significant bullish update that could potentially propel Terra Luna Classic to new market highs. Community members have revealed that Coinbase Wallet has shown support for LUNC, further strengthening the relisting speculation.
The Implications of the Relisting
The relisting of LUNC by Coinbase is seen as a major vote of confidence for the project. This move comes after the collapse of Terraform Labs in 2022, which led to the liquidation of over $60 billion in both LUNA and UST cryptocurrencies. In response to the crisis, Terraform Labs backed the forking of a new chain with the retained Terra (LUNA) identity, leading to the creation of Terra Luna Classic (LUNC).
Market Response to the News
The potential relisting of Terra Luna Classic by Coinbase has sparked a bullish uptick in the community. The price of LUNC has risen by 1.10% in 24 hours to $0.0001054, marking a significant trend shift amid a series of positive news this month. The Terra Luna Classic community has also proposed to bring Allnodes as an official organization to manage the endpoint for circulating supply, further boosting the ecosystem’s functionality.
Conclusion
This potential relisting of LUNC by Coinbase could significantly impact the cryptocurrency’s market performance. It not only reflects the exchange’s confidence in the project but also provides a much-needed boost to the community’s efforts to restore the ecosystem. However, investors are advised to conduct thorough research and exercise caution when investing in cryptocurrencies.
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