LUNC, a token supported by Terra Classic, made headlines when Pancakeswap sought a $100,000 seed investment. The collaboration between the two has sparked notable interest.
Lunanauts, a validator for LUNC, shared plans for a new collaboration to boost support for the LUNC cryptocurrency. This announcement gained attention in the crypto market, especially as it coincided with a decline in the token’s price. LUNC, supported by the Terra Classic community, had been gaining traction in the crypto space, but the recent drop in its value reflects a shift in market sentiment.
Pancakeswap Plans $100K Seed Injection for LUNC
The LUNC validator has revealed that Pancakeswap, a crypto exchange, is eyeing a $100,000 seed injection into the liquid pool, creating a connection between LUNC and the BNB chain, as per an official statement.
Additionally, the statement outlines plans to whitelist LUNC on the frontend, aimed at minimizing trader losses and attracting a surge of traders to the platform.
The statement also notes that LUNC will be automatically listed without token import requirements once whitelisted. Despite community efforts to support LUNC’s tokenomics, the token experienced a downward price trajectory today, sparking speculation in the crypto market.
LUNC Token Drops 12.54% Despite Pancakeswap Partnership
In the last 24 hours, the LUNC token witnessed a notable decline of 12.54%, settling at $0.0001448. The weekly performance of the token also showed a 19.77% decrease. Despite recent announcements of an impending collaboration with Pancakeswap, the LUNC price remained bearish in the broader market.
Simultaneously, the Terra Classic community rejected a significant burning proposal involving the destruction of 800 million TerraClassicUSD (USTC). This development appears to have contributed to the downward trajectory observed in Terra Classic-backed tokens today.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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