๐๐๐ฅ๐ฅ๐ฅ๐ค๐คTerraform Labs (TFL) has made a significant move by burning 251 billion LUNC tokens, which is about 4% of the total LUNC supply.ยน This large-scale token burn was part of a settlement with the US Securities and Exchange Commission (SEC).ยฒ
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The burn event has sparked speculation about a potential rally in the LUNC price. Although the market reaction has been subdued, with LUNC's price rising by only 3% and USTC's price increasing by 1.7%, technical indicators suggest a possible future uptrend for LUNC. Analysts have identified a "falling wedge" pattern on LUNC's price chart, which typically signals a bullish reversal.ยณ