On Wednesday, the price of Terra (LUNA) jumped by nearly 25%, reaching a high of $3.08. As the LUNA wormhole token swaps Lido Staked ETH (stETH) tokens for U.S. cash, it has become a top holding among the top 100 Ethereum whales.
Forks Ethereum for Terra (LUNA) Wormhole Token (stETH)
The LUNA wormhole token has surpassed Lido Staked ETH (stETH) as the largest holding in terms of value among the top 100 Ethereum whales, as reported by WhaleStats.
One quarter of all tokens held by investors (minus ETH) were LUNA tokens. The top 100 Ethereum “whales” collectively hold about $820 million worth of LUNA wormhole. Even among the top 100 whales, the token now outnumbers their combined holdings of USDC and USDT.
As whales sold their Wormhole interoperability protocol tokens, the Terra (LUNA) token saw a price increase. In the last few hours, the Terra (LUNA) price has risen to $3.08 and trading volume has reached about 150% of its 24-hour average.
In contrast, LUNA wormhole tokens were converted to Ethereum (ETH), Bitcoin (BTC), Tether (USDT), and Bone ShibaSwap (BNS) (BONE). Since then, the price of ETH and BONE has risen by over 1% and 10% respectively.
In addition, LUNC DAO, a validator for Terra Classic, has been in touch with Bull.
Whales are the true cause of the LUNA price increase, as revealed by BnB. Last month, the whales turned a profit at a $7 pump. Now the whales are seeking to get out of the liquidity market.
The price of TerraClassicUSD (USTC) has dropped by more than 17% in the past 24 hours as whales and dealers sell their holdings.
There is a lot of pressure on the price of Terra Classic (LUNC) right now.
As the U.S. dollar index (DXY) and the U.S. consumer price index (CPI) are expected to increase, the price of Terra Classic (LUNC) is also under pressure. Today, a single LUNC can be purchased for $0.00028. The low for the last 24 hours in Terra Classic is $0.00027, and the high is $0.00030.
Bull and LUNC DAO.
The BnB community agrees that LUNA and LUNC are two separate groups. Neither LUNA nor Do Kwon have earned the confidence of the Terra Classic fandom.
Source: Google Trend
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