Terra (LUNA) rises to the top of the list of the top 100 Ethereum whales
On Wednesday, the price of Terra (LUNA) surged by more than 25% to a high of R56,23. The price increase occurred as the LUNA wormhole token became a top holding among the top 100 Ethereum whales in terms of US dollars, flipping Lido Staked ETH (stETH) tokens.
Terra (LUNA) Wormhole Token flips ETH (stETH)
According to WhaleStats, the LUNA wormhole token surpassed Lido Staked ETH (stETH) as the top holding by dollar among the top 100 Ethereum whales.
The LUNA token accounted for 25.06% of all token ownership, excluding ETH. The total value of the LUNA wormhole held by the top 100 Ethereum whales is about R15 billion. The token even outperformed the top 100 whales' USDC and USDT holdings.
As whales used the Wormhole interoperability protocol token to exit liquidity, the Terra (LUNA) token rallied. The Terra (LUNA) price has risen to a high of R56,63, with trading volume increasing by about 150% in the last few hours.
The LUNA wormhole tokens, on the other hand, were exchanged for Ethereum (ETH), USDC, USDT, and Bone ShibaSwap (BONE). As a result, the prices of ETH and BONE have increased by more than 1% and 10% in the previous several hours, respectively.
Also, talks between Terra Classic validator LUNC DAO and Bull. The BnB showed that whales were the real reason why the price of LUNA went up. Last month, the whales profited from the R128 pump. Whales are now attempting to exit liquidity.
Meanwhile, whales and traders have fled TerraClassicUSD (USTC), with the price falling by more than 17% in the last 24 hours.
Price Pressure on Terra Classic (LUNC)
The price of Terra Classic (LUNC) is also under pressure as the US CPI figures and the US dollar index (DXY) rise. The LUNC price is currently R0,0051. Terra Classic's 24-hour low and high are R 0,0049 and R0.0055, respectively.
