The last few days in the cryptocurrency market have been scary for many investors, as a huge group of altcoins have suffered brutal losses on behalf of the United States Securities and Exchange Commission (SEC) and its incessant war against decentralization and the evolution of the North American financial system.

However, there is a group of digital assets that have managed to overcome the onslaught of the US regulator, including Bitcoin (BTC), Ethereum (ETH) and Terra Luna Classic (LUNC). Yes, against all odds, LUNC is showing important signs of life with continuous bullish signals that have positioned it as one of the most winning cryptocurrencies this Tuesday, June 13.

And that's not all, the ICO section has also managed to overcome the strong blows from the SEC to become even more attractive to millions of investors who are looking to generate the returns they are losing with Cardano (ADA), Polygon (MATIC), Solana (SOL) or Dogecoin (DOGE), just to mention four. In this sense, Wall Street Memes (WSM) joins the market as one of the most interesting proposals of the moment, but we'll get there.

Terra Classic continues to gain weight in the market

With a name that implies fraud, fear and billion-dollar losses, LUNC has been surprising the entire market since the first week of June, as it has generated increasingly higher returns in the midst of a bearish trend that is slowly beginning to dominate the market. industry. Recall that before the Terra ecosystem fell into disaster in May of last year, Terra Classic was trading at a maximum of $116.

Of course, once the Terra ecosystem fell out of favor, the value of LUNC plummeted, along with its sister stablecoin UST, squandering more than $40 billion in market capitalization valuation. This led to many investors losing all their funds, as well as hope for a recovery at some point in history. Sure, the reconstruction initiatives arrived and everyone laughed, but who laughs now?

The recent upward movements in the price of Terra Luna Classic are shedding balms of hope for the entire community that insists on keeping this cryptocurrency in their wallets. To give us an idea, in the last 30 days, this token has generated returns of 5.56%, while in the last week this number already exceeded 2% and for the last 24 hours it exceeds 5.3%.

Now, we must not leave aside that in the last six months the value of this particular cryptocurrency has fallen by more than 43%, while so far in 2023, until June 13, its price has melted by more of 35%.

Improvements in the Terra Luna Classic ecosystem are the key

The price of LUNC continues to be very volatile and speculation about upcoming developments to improve the ecosystem in which it lives that has made headlines on social networks is being the key to raising its value.

An example of this is the update called 'Terra Classic V2 1.0', which would be only 24 hours away from being active. To this we should add the LUNC Burn Army, a group that has shared comments on Twitter on several occasions and that this June 8 became a trend by reminding its followers about this update.

“We are ready for the upgrade to parity next week, June 14. On the day of the update, the chain and dApps will not be available during the update. With this it will be necessary to update the station extension (…) TFL has informed us that this depends on Google's approval times and that it could take several days. This means that there will be downtime for dApps using the Station extension, until Google approves this component. The station that will be available. “This is a necessary part of the update to parity and we appreciate everyone's patience as we look forward to Google applying the update.”

According to them, this update will serve to bring Terra Luna Classic into line with other blockchains, which in turn would allow independent developers and crypto projects to start building on the blockchain again.

The same update would allow validators to earn commissions of up to 5% for running nodes on the mainnet. As explained by BewsBTC, “the increased excitement as the community anticipates the V2 1.0 update to parity must have rubbed off on Terra Luna Classic.