Black Swan Survivor LUNC Surges 13%
Coinciding with Terra’s malfunctioning stablecoin #TerraClassicUSD ($USTC ) massive 28% spike to $0.0233, LUNC’s price trajectory received a significant boost on May 2, scorching above the $0.0001 confluent support line after dropping below this decisive price range on April 30.
Thanks to Binance’s LUNC burning contributions, the circulating LUNC supply is now heavily reduced, with 5,799,402,152,117 LUNC tokens left in circulation. Binance’s latest monthly burning ceremony saw 1.5B LUNC tokens destroyed, but the effort was significantly smaller than the cumulative burns executed in April.
The 140% upswing in #TerraClassic ’s 24-hour trading volume contributed towards the surge, and #LUNC✅ added $100 million to its global market cap since May 2. The milestone was followed by an overbought condition on LUNC’s trading charts, as this indicator points to 75.12. Volatility-wise, the tight Bollinger Bands are gradually widening, implying that $LUNC price volatility will likely expand in the coming days.
