LUNA surges 3x, market cap jumps 200%; is this another Terra pump-and-dump?

ambcrypto.com:

How to get-over your shady past?

Well, incorporate a model (2.0 version/iteration) by learning from past mistakes. That exactly what Terra’s Phoenix blockchain token LUNA did as it recorded a >200% hike. But at what cost?

LUNA – the cryptocurrency behind the Terra ecosystem witnessed some unprecedented hikes as we speak. At press time, the token rose by more than 260% as it traded at the $7.06 mark on CoinMarketCap. Ergo, trying to fix those broken glasses following the twin collapse of Terra’s UST stablecoin and LUNA cryptocurrency.

Here’s a glimpse of LUNA’s rise over a week.

Source: CoinMarketCap

The total 24-hour trading volume was $1.75 billion, of which Binance accounted for 32% of the share. Bitcoin also gains 8.6% in 24 hours. In fact, the spike sent the token’s market capitalization to a shade under $1 billion, jumping to $995 million from $321 million — a 209% increase, according to the cryptocurrency data tracker CoinGecko.

Further looking at the token’s volume, CryptoCompare’s insight shed some light on this topic. Terra’s trading volume suddenly exploded from around $6 million to over $200 million over the last few hours.

Around 60% of $LUNA’s trading volume occurs on the Binance exchange, with OKX representing around 25% and Gate.io representing 5.4%.

Source: CryptoCompare

Following such high traction, LUNA’s social metrics reiterated the same trend as tweeted by LunarCrush. The social intelligence crypto platform in a 10 September tweet added: