TerraClassic: As stakers lose confidence in LUNC, will its price action be a savior
had a staking ratio of 14.92%. This was concerning as the ratio was on a rise for multiple weeks prior to the latest downtrend.A possible reason for the episode could be LUNC’s declining price trend. Over the last month, the token has bled significantly, which might have instigated stakers to unstake their assets.’s on-chain metrics did not suggest a drop in investors’ confidence. This was evident from the recent rise in the token’s weighted sentiment.
Terra Classic’s Chaikin Money Flow also followed the RSI and moved up. However, the Exponential Moving Average Ribbon was still bearish, as the 20-day EMA was well below the 55-day EMA.
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