Terra Classic (LUNC), Ravencoin (RVN), ApeCoin (APE) take the top 3 spots because…

ambcrypto.com:

The total cryptocurrency market volume over the last 24 hours stood at $78.70 billion, marking a 12.71% increase. Meanwhile, total market capitalization surged by >6% within the same timeframe as it amounted to $1.03 trillion.

Overall, this injected a much-needed relief for crypto holders. Major cryptocurrencies, such as Bitcoin [BTC] Ethereum [ETH], and more did witness a small hike as well. Although, three tokens stole the show by recording highest hikes in just a day.

1) Terra Classic (LUNC)

Firstly, Terra Classic’s LUNC has been all the rage for the last week. Even this week, the alt didn’t disappoint as it surged by a MASSIVE 100%. Overall, Terra Classic’s price soared by 250% in September. The 30-day graph below shows evidence of this unprecedented rise.

Source: CoinMarketCap

Two main updates could have played a role of a catalyst to help the token showcase such positive report card. One the Terra Classic’s staking service and two, the new token-burning feature.

The community released the v22 update that enabled LUNC to achieve triple-digit growth. As per data from StakingRewards, staking in Terra Classic returned users with an annualized yield of 37.8%. Quite astonishing to be honest.

Did it work? Well, Yes.

According to LuncStaking_Bot, users staked more than 610 billion LUNC with Terra Classic against its net supply of 6.9 trillion units.

SUPPLY total: 6,903,660,538,201

STAKED bonded: 533,102,702,962 unbonded: 77,003,374,763

STAKING RATIO 8.837%(bonded: 7.722%)

2022-09-08 17:30 UTC#LUNC

— LUNC staking (@LuncStaking_Bot) September 8, 2022

However, unsustainable interest rates remain a concern, particularly in times of limited liquidity. Ergo, to increase scarcity