Change in number of LUNC holders signals major accumulation
According to Coinmarketcap, the number of holders of Terra Classic token, LUNC, has been rising steadily for several months since the start of the decline. Their number has increased to 12,071, an increase of 316 addresses or 2.7% compared to September.
At the same time, major Terra Classic token holders have increased their positions since the beginning of December. Over the past days of the first month of winter, the position size of the top 100 LUNC holders has increased by 1.91%. The same Terra Classic top 10 whales have increased their position size by 1.87%.
By correlating changes in the balance sheets of major LUNC holders and the price charts of the token, it can be seen that there is some sort of pattern whereby an increase in the whales’ bag initiates a strong price action for the token. Also, this count may not be accurate because of the large number of “wrapped” LUNCs in circulation.
Terra Classic (LUNC) price action
LUNC is currently trading at $0.000142, moving in a downward trend since September after being pumped up 500% in the weeks since late summer.
Looking at the chart, you can see that the price of Terra Classic coin has come down to an important support level, having lost the last missing 14% as a result of the recent market selloff.
