Bobllionaire
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Bullish
🚀 🌖 Terra Classic (LUNC) Soars 30% After 3.1 Billion Token Burn: What’s Next?
The price of Terra Classic (LUNC) has soared 30% in recent days after burning an impressive 3.1 billion tokens, generating growing enthusiasm among investors. This rise is in line with the appreciation trend seen in the cryptocurrency market in December, but the question arises: does LUNC have more room to continue rising?
Token Burns and the Impact on Price
As part of its strategy to reduce the supply of LUNC, Terra Classic burned 3.1 billion tokens, which boosted interest in the asset and helped accelerate its appreciation. Since May 2022, 392.84 billion tokens have been eliminated, significantly reducing the total in circulation. Currently, the circulating supply is at 5.51 trillion tokens, well below the initial total of 6.51 trillion.
Token burning has been a key action to make LUNC more scarce in the market, which historically leads to price appreciation. This recent burn has generated more confidence in the future of the token and attracted the attention of investors looking for growth opportunities.
Binance and Support for Terra Classic
In addition to the burn carried out by Terra Classic, Binance, the largest cryptocurrency exchange in the world, also contributed to supporting the Terra Classic community, burning 64.47 billion tokens in September of this year.
LUNC on the Rise: What to Expect Now?
LUNC is experiencing a strong appreciation phase. In the last few days, the price has increased by 30%, reaching $0.00017, and in the last few weeks, the growth has been an impressive 42.46%. In the last month, the cryptocurrency has already increased by more than 100%.
This upward movement led LUNC to break through its immediate resistance of $0.000163, which suggests that the coin may be gearing up for further gains. If the rally continues, we could see LUNC hitting $0.0001 soon, with the possibility of reaching as high as $0.001 in the coming weeks.
$LUNC $USTC
The price of Terra Classic (LUNC) has soared 30% in recent days after burning an impressive 3.1 billion tokens, generating growing enthusiasm among investors. This rise is in line with the appreciation trend seen in the cryptocurrency market in December, but the question arises: does LUNC have more room to continue rising?
Token Burns and the Impact on Price
As part of its strategy to reduce the supply of LUNC, Terra Classic burned 3.1 billion tokens, which boosted interest in the asset and helped accelerate its appreciation. Since May 2022, 392.84 billion tokens have been eliminated, significantly reducing the total in circulation. Currently, the circulating supply is at 5.51 trillion tokens, well below the initial total of 6.51 trillion.
Token burning has been a key action to make LUNC more scarce in the market, which historically leads to price appreciation. This recent burn has generated more confidence in the future of the token and attracted the attention of investors looking for growth opportunities.
Binance and Support for Terra Classic
In addition to the burn carried out by Terra Classic, Binance, the largest cryptocurrency exchange in the world, also contributed to supporting the Terra Classic community, burning 64.47 billion tokens in September of this year.
LUNC on the Rise: What to Expect Now?
LUNC is experiencing a strong appreciation phase. In the last few days, the price has increased by 30%, reaching $0.00017, and in the last few weeks, the growth has been an impressive 42.46%. In the last month, the cryptocurrency has already increased by more than 100%.
This upward movement led LUNC to break through its immediate resistance of $0.000163, which suggests that the coin may be gearing up for further gains. If the rally continues, we could see LUNC hitting $0.0001 soon, with the possibility of reaching as high as $0.001 in the coming weeks.
$LUNC $USTC
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