TerraClassicUSD (USTC) surged nearly 50% on Sunday, September 29.
TerraLunaClassic (LUNC) also rallied over 20% on the same day.
LUNC and USTC surged amid growing optimism over a recent token burn proposal.
TerraClassicUSD (USTC) jumped nearly 50% on Sunday, September 29, just before the implementation of the burn proposal. The price surge showed growing optimism among investors who believe the burn program will increase the prices of both ecosystem tokens, as TerraLunaClassic (LUNC) also rallied over 20% that same day.
Since then, both cryptocurrencies have seen price declines after the surge over the past weekend, but many analysts believe the pullback is temporary and is happening because of the overall crypto decline of the past few days.
Read also : LUNC Investor’s Bullish Bet: Buys Tokens at 3x Premium
TradingView’s data shows that USTC has dropped from a recent high of $0.0276 to $0.0219 at the time of writing, while LUNC has fallen to $0.0000842 since reaching a recent high of $0.0001092.
However, there is still a lot of bullish sentiment for both Terraform Labs’ ecosystem tokens as Binance starts the recently approved burn process. Repor…
The post LUNC and USTC Price Surge: Burn Initiative Fuels Double-Digit Rally appeared first on Coin Edition.
