In the last 24 hours, Terra Classic (LUNC) price shocked the market with a sudden 50% surge, reaching the $0.000116 level.
LUNC has seen a remarkable resurgence thanks to multiple catalysts, but sustainability remains a question mark hanging over the token’s future trajectory.
This article analyzes the drivers of Terra Classic’s pump and identifies three additional altcoins that could post double-digit gains in the coming days.
Terra Classic Prices Rise Due to Strategic Investments and Token Burns
The recent rise in LUNC can be attributed to two key catalysts.
First of all, Terra Classic Labs (TCL) invested around $500,000 in TerraClassicUSD (USTC), an algorithmic stablecoin linked to the Terra ecosystem.
This investment, involving the acquisition of 25.6 million USTC at $0.021 per token, was a strategic decision as part of TCL’s Treasury Reserve Policy aimed at stabilizing USTC liquidity and supporting recovery efforts.
This investment significantly increased the price of USTC, which jumped over 300% in a single day.
This ripple effect helped propel the price of LUNC higher, renewing confidence and hope to revive the Terra ecosystem as a whole.
Second, LUNC’s automated token burning mechanism has significantly reduced its circulating supply.
For over a year, the network has implemented a 0.5% burn tax on transactions – a tax that permanently LUNCHS circulation, leading to the destruction of more than 74 billion tokens.
Binance actively participated, conducting 15 separate burns totaling nearly 40 billion LUNC.
Although the burn rate has slowed recently, these burns have contributed to the rise in the price of LUNC.
Overall, TCL’s investment in USTC and ongoing token burns have increased optimism and helped drive the price of LUNC higher.
What Other Altcoins Could Rise This Week?
Although Terra Classic’s price action is impressive, several other altcoins in the market are also being watched due to their promising price prospects.
As the new week approaches, here are three cryptocurrencies that stand out as contenders for significant potential gains:
1. Bitcoin Minetrix (BTCMTX)
The first altcoin investors may want to look at this week is Bitcoin Minetrix (BTCMTX).
Bitcoin Minetrix is a decentralized cloud mining platform that allows users to stake BTCMTX tokens and earn BTC rewards.
As the world’s first staking project, Bitcoin Minetrix provides users with cloud mining credits, which are then burned to generate mining power or a share of mining yields.
This innovative mechanism makes cloud mining accessible to retail investors by eliminating upfront costs and hidden fees.
Additionally, Bitcoin staking protocol Minetrix offers APYs of over 130%offering users two ways to generate passive income.
Although still in development, the Bitcoin Minetrix presale raised over $4.4 million in funding, demonstrating the growing buzz from the investment community.
Overall, Bitcoin Minetrix’s revolutionary model and ambitious roadmap position it as a potentially attractive investment opportunity ahead of BTCMTX’s open market debut.
2. Meme Kombat (MK)
Kombat Meme (MK) is an emerging crypto project that combines memes and fighting games on the Ethereum blockchain.
The platform’s Battle Arena allows players to watch and bet on fights between popular meme-inspired characters using the native MK token.
These unpredictable AI-generated battles feature characters with unique stats and abilities, such as Pepe the Frog and Doge.
Winners can earn additional MK rewards and other prizes while benefiting from Meme Kombat’s staking protocol, which offers APYs of over 410%.
Staking rewards are paid out daily, creating a double win mechanic that could prove fruitful for Meme Kombat players.
Meme Kombat is currently holding a presale for its native MK token, with investors able to stock up on MK ahead of the first exchange listing.
At the time of writing, MK tokens are being offered for just $0.214 – a price that is expected to increase in three days.
With 50% of MK’s total supply reserved for presale investors and over $2.1 million already raised, Meme Kombat’s growing traction in the GameFi sector could make it another token to watch this week.
3. Illuvium (ILV)
As the latest altcoin to watch, the decentralized gaming project Illuvium (ILV) shows strong earning potential this week.
Illuvium is developing an expansive blockchain gaming universe, including an open-world exploration title where players can capture Illuvials, mine resources, and gain true ownership of digital assets.
The native ILV token facilitates governance, staking rewards, and in-game purchases.
Several factors suggest that ILV could rise this week, including growing interest in crypto gaming projects, which has driven the token’s price up 8% over the past seven days.
Total ILV staking also jumped to over $330 million.indicating increased investor confidence in the ecosystem.
With ILV price up 129% since last month, the medium-term trend appears bullish – hinting that the token could see further gains this week if engagement continues to rise.
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