The price of Terra (LUNA) jumped more than 25% suddenly on Wednesday to hit a high of $3.08 before falling to $2.73 a unit. The price surge comes as LUNA becomes the top holding crypto choice among the top 100 Ethereum whales in terms of US dollars.
According to WhaleStats, Terra (LUNA) Token and Wormhole Flips Staked ETH (stETH) have become the largest holdings in dollars among the top 100 Ethereum whales.
Luna tokens account for 25.06% of the total holdings of all tokens, excluding ETH. The total value of LUNA wormholes held by the top 100 Ethereum whales is almost $820 million. The token even surpassed the USDC and USDT holdings of the top 100 whales.
The token led the rally to the Terra token (LUNA) as the Whale cluster used the Wormhole interoperability protocol token to exit liquidity. The price of Terra (LUNA) surged to a high of $3.08 and trading volume reached almost 150% in the past few hours.
However, the LUNA wormhole token has been exchanged for Ethereum (ETH), USDC, USDT and Bone ShibaSwap (BONE). As such, bullish momentum can be seen in ETH and BONE prices, rising over 1% and 10% in the past few hours.
Also, the conversation between Terra Classic LUNC DAO and Bull.BnB revealed that the Whale cluster was the real reason behind the LUNA price pump. The Whale group made a profit at $7 last month. Recently, the group is trying to get out of liquidity.
Meanwhile, whales and traders have also exited TerraClassicUSD (USTC), with prices down over 17% in the past 24 hours. Terra Classic (LUNC) prices are also under pressure ahead of U.S. CPI data. and the U.S. dollar index. (DXY) rose higher. LUNC price is trading at $0.00028.
LUNC DAO and Bull.BnB agree that LUNA and LUNC are different communities. The Terra Classic community does not trust LUNA or Do Kwon.
