Recent updates indicate that Terra Classic (LUNC) is on the rise, with its volume and price surging significantly over the past 24 hours. This growth suggests a promising future ahead for LUNC, as it continues to gain momentum.
Mr. Diamondhandz1, a prominent member of the Terra Classic community, shared on Twitter that LUNC volume surged by 700%, driving its price up by more than 13%. This significant increase is linked to Binance’s recent token burn, the largest exchange by trading volume.
Terra Classic Community Driven by Remarkable LUNC Surge
Mr. Diamondhandz1 recently tweeted about Terra Classic’s (LUNC) staggering 700% surge in 24-hour volume, reaching 135,125,272, outperforming every cryptocurrency in the top 100 by 24-hour percentage change. This surge, coupled with Binance’s monthly token burns, dispels any notion of LUNC’s demise.
$LUNC is up 700% in 24 hour volume at 135,125,272 and has outperformed EVERY #Crypto in the top 100 in 24 hour % change and you think it’s dead? There is a reason #Binance burns #LUNC every month. Don’t get left behind. 🚀🌕💎🤲🏻 #LUNCcommunity pic.twitter.com/4YZ3ucziTx
— Mr. Diamondhandz1💎 (@MrDiamondhandz1) February 4, 2024
Binance’s recent burn of 2.1 billion LUNC marks a milestone in Terra Classic’s journey. This effort, part of the ongoing LUNC burn campaign, involved various stakeholders, including exchanges, validators, projects, and community members, united in reducing LUNC’s circulating supply.
Binance’s 18th LUNC burn demonstrates the exchange’s unwavering commitment to Terra Classic’s resurgence. With over 50 billion LUNC tokens burned, nearing the 100 billion mark, Binance alone has contributed 52.4% to this commendable effort.
The Terra Classic community remains steadfast in its pursuit of sustainable price appreciation for LUNC. The token burn strategy, embraced by the community, serves as the primary initiative to elevate LUNC’s value, reflecting their collective dedication to the project’s success.
Binance Burns 2.1 Billion LUNC Tokens in 18th Batch
On January 1, Binance executed a significant burn transaction, disposing of 2.1 billion LUNC tokens. This transaction marked the 18th batch of the LUNC burn mechanism, spanning from December 31 to January 30. The primary sources for these tokens include trading fees generated from LUNC spot and margin trading pairs. With this burn, Binance’s cumulative LUNC disposal reaches an impressive 51.27 billion.
The month of January saw increased activity, leading to the incineration of an additional 5.57 billion LUNC tokens. This surge in burning activity coincided with a substantial rise in LUNC trading volume on the platform. The introduction of a USTC perpetual contract and new USTC and LUNC trading pairs across various crypto exchanges contributed to this surge, amplifying the overall impact of the burning campaign.
Terra Classic Community Celebrates 98 Billion LUNC Burn Milestone
Following a recent achievement in staking, the Terra Classic community has reached another significant milestone, burning a total of 98 billion LUNC tokens. Maintaining an impressive pace, the community continues to burn an average of 600 million LUNC per week.
As of press time, LUNC is trading at $0.0001054, reflecting a 6.06% increase over the past week. Despite this positive momentum, LUNC has experienced a 26.09% decline over the last month. However, community members remain optimistic about a sustained surge in value.
In light of the recent price fluctuations, a crypto enthusiast has urged the community to focus on a target price of $0.03 for LUNC. Emphasizing that short-term declines and fluctuations are typical in the crypto market, the proponent believes that volatility often precedes significant price movements. With LUNC showing signs of a gradual ascent, the community is setting its sights on ambitious targets for the cryptocurrency’s future.
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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