Ordi and LUNC are exploding by 100 percent
Ordi and LUNC are each exploding by more than 100 percent in the weekly trend. Why a BRC-20 token and a smart contract platform that was thought to be dead are currently generating such massive profits.
Ordi and LUNC are exploding by 100 percent: That’s what’s behind it
The BRC-20 token ORDI and the believed-dead cryptocurrency Terra Classic (LUNC) are both exploding by 100 percent in the weekly trend. In addition to the recent Bitcoin rally, both currencies can also rely on their own progress that is driving the price north.
Ordi and LUNC are currently clear weekly winners among the top 100 of the crypto market. Ordi is a user-generated token that exists on the Bitcoin blockchain thanks to the Ordinals protocol .
The BRC-20 token has no intrinsic value and is still the leader of the current rally with +117 percent in the weekly trend at the time of going to press. Since a listing by Binance at the beginning of November, the token has risen by around 400 percent.
Before Ordi could be traded on Binance, the token’s market value was $10, but it has now risen to $41.50. The BRC-20 is treated like a memecoin by investors and is therefore subject to wild speculation.
According to a media report from The Coin Republic , Ordi is undergoing enormous technical changes. Accordingly, the previously worthless token will be closely linked to the banking industry in order to make it easier for users to get started with crypto.
No sources for this claim can be found. An associated Twitter account has no longer been active since the summer. There are no other online presences apart from a Discord server; after all, the creator was initially just having fun with his token.
In addition to Ordi, the rest of the ecosystem surrounding BRC-20 tokens is currently experiencing explosive interest. CoinGecko lists 52 of the currencies that together are currently the third most important category in terms of weekly growth.
Why is Terra Classic (LUNC) rising today?
Terra Classic (LUNC) is also rising again today. Just like Ordi, the cryptocurrency was up 117 percent in the weekly trend at the time of going to press. In the daily trend, the coin is even the daily winner among the 100 largest cryptocurrencies with +34 percent.
LUNC’s growth is based on a series of successful recovery measures. The cryptocurrency crashed in May 2022 and has since struggled with a highly inflationary circulating supply, which is expected to return to normal levels through the work of the user community.
Binance also took part in the Terra Classic token burn. The crypto exchange destroyed around four billion tokens during the 16th organized token burn, triggering new euphoria among investors.
More LUNC are being destroyed every day by a tax applied to every transaction. According to the Terra Classic Foundation, another 244 million LUNC were destroyed yesterday. However, the targeted goal of one US dollar is still a long way away. At the time of going to press, the coin was trading at $0.000250.
Meanwhile, a tax will also reduce the circulating supply of the stablecoin TerraClassicUSD (USTC), which was originally pegged to the US dollar. However, due to strong inflation, the value of the stablecoin is currently only 0.06 US dollars.
