Breaking News: LUNC Surges 18% as Burn Rate Gains Momentum
In a remarkable 24-hour rally, Terra Luna Classic (LUNC) has seen its price skyrocket by 18%, currently trading at $0.000117. The token hit a daily low of $0.00009992 and surged to a high of $0.0001293. Market analysts anticipate further gains for LUNC, fueled by an increasing burn rate, which is expected to bolster its value in the near term.
According to data from Coinglass, open interest in LUNC futures on Binance and Bybit has soared by over 45% within the past 24 hours. This surge indicates heightened activity from derivatives traders, suggesting strong market interest in LUNC's potential upward momentum.
At the same time, USTC (TerraClassicUSD) recorded a notable price increase of over 12%, now trading at $0.0248. However, trading volume for USTC experienced a sharp decline of 278%, reflecting a reduction in market activity. Despite the recent climb, USTC remains down by more than 1% over the past week.
These developments highlight renewed interest in the Terra Luna Classic ecosystem, with rising burn rates and derivatives activity potentially signaling a bullish outlook for LUNC.
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