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Binance Removes Warning Labels on Terra Classic (LUNC) and USTC. Here’s the Significance

This recent development from the largest cryptocurrency trading platform could greatly provoke more investors to buy into the LUNC and USTC tokens.

Following the fall of the Terra ecosystem in May 2022, there was a massive decline in the prices of Terra Classic (LUNC) and the supposed algorithmic stablecoin – TerraClassicUSD (USTC). Hence, both assets became a highly risky investment tool for crypto traders given the project founder and development team deserted both LUNC and USTC to launch a new project. 

Whale Alert

To further caution investors (especially amateurs) and alert them of the risks involved in investing in a failed project such as USTC and LUNC, a warning label was attached to both assets on the Binance trading platform.

This warning inscription included that Do Kwon, the Terra blockchain creator, abandoned both token projects, and is currently being faced with multiple legal cases, which puts him at risk of being arrested by the authorities. 

LUNC and USTC Gain Momentum

Interestingly, the widely embraced crypto exchange has removed these danger signals which likely dissuaded many investors from adding LUNC and USTC to their portfolios. Classy, a top validator on the Terra Classic network, disclosed this in a Tuesday tweet

This development also shows that Binance is keen on supporting the Terra Classic community by attending to their concerns. It bears mentioning that earlier this month, Classy called on Binance to remove these warning signals on the assets, citing that it would heavily benefit the token.

As a result of this positive reaction from Binance, both assets gained massively in price value today as investors’ negative sentiments about them probably changed. According to Classy’s update, LUNC rose from $0.000169 to 0.000175 today in one green candle. Likewise, USTC rallied from $0.022 to $0.025. At the time of writing, LUNC shows a 24-hour increase of over 4%.

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Ndianabasi Tom
Ndianabasi Tom
Ndianabasi Tom joined the crypto and blockchain industry in late 2018. He is an all-rounded crypto journalist and content writer. At TimesTabloid, he covers the industry's latest news, developments, and other educational content. He is a graduate of Petroleum Engineering.
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