Why is the LUNC Price Going Up?
Investors have been accumulating LUNC over the past two months in anticipation of the upcoming token burn periodically carried out by Binance. Historically, crypto burns have been bullish catalysts in the crypto market. Investors are optimistic that the upcoming burn event will positively impact LUNC’s price, reflecting this sentiment.
LUNC on-chain burns have been steadily increasing, with a popular Supply Change Tracker bot indicating that an average of 178 million #LUNC✅ tokens are burned daily. The total remaining supply of LUNC stands at 6,793,288,228,623. The #LUNCcommunity is eagerly anticipating the Binance burn, expecting it to significantly reduce the token supply
Bottom Line
As the $LUNC supply dwindles, the value continues to stabilize, further proving to #DoKwon and the overall crypto industry that a united community is the greatest strength any crypto project could have. All eyes are on the #TerraLunaClassic price to see how it performs post-burn.