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#BinanceLaunchpool $BTC $ETH Terra LUNA’s LUNC Set To Jump 13x, Analyst Reveals The Drivers Crypto analyst Javon Marks has laid out a bullish narrative for Terra Classic (LUNC). Based on his analysis, the crypto token could eventually see a 13x increase from its current price levels. The analyst alluded to LUNC’s historical pattern as what could drive such parabolic price surge. Related Reading How LUNC’s Price Could Jump By 1,300% Marks mentioned in an X (formerly Twitter) post that LUNC has confirmed a “major bullish pattern,” signaling a continuation of its bullish run to the first price target at $0.00058046. He noted that this move of over 400% was likely to be attained with the crypto token holding above levels that it had earlier broken out from. The crypto analyst then raised the possibility of LUNC making a 1,300% move instead. He claimed that LUNC’s previous breakout and run pattern suggests that three targets could be broken above, meaning that the crypto token rising to the price target of $0.00139122 from here is “possible.” Marks has remained bullish on LUNC for a while now and has suggested that LUNC’s parabolic rally is a question of when and not if. However, he has failed to provide any specific timeframe for when this move will likely occur. LUNC’s fundamentals are also expected to contribute to this upward trend and push its price to such heights. One way that is likely to happen is through the LUNC’s burns, which are carried out regularly. The Terra community has burnt over 113 billion LUNC tokens since the burning initiative came into place following Terra LUNA’s crash in 2022. This has helped reduce the crypto tokens’s circulating supply and could be significant as demand for the token picks up. It is worth noting that LUNC is well below its all-time high of $119. However, this suggests that the crypto token has enough room to move significantly to the upside. Recent Developments In The Terra Classic Ecosystem
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$LUNC $BNB $BTC Here is the full detail and analysis of the LUNC coin ¹ ² ³ ⁴: *What is LUNC?* Terra Classic (LUNC) is the native token of the Terra blockchain released in August 2018. It was designed to absorb the price deviation of the algorithmic stablecoin, UST, pegged to the US dollar. *History* In May 2022, UST lost its peg and collapsed. The UST algorithm created trillions of LUNA tokens, causing a hyperinflationary spiral and reducing the value of the original LUNA token by 99%. The original Terra chain was renamed Terra Classic, and its LUNA token became LUNA Classic (LUNC). *Key Features* - LUNC's primary function was managing UST's peg. - Despite the UST collapse, Terra Classic (LUNC) maintains its own blockchain and community. *Pros and Cons* *Pros:* - Fast, secure, and affordable transactions. - Combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC). - Offers fast and affordable settlements. *Cons:* - Limited availability. - High costs associated with its services. - Dependence on blockchain technology. *Price Analysis* - LUNC reached its peak price of $119.01 on April 5, 2022. - Its lowest point occurred on May 13, 2022, when it dropped to $0.00001651. - The current price of LUNC is around $0.000106. *Circulating Supply* - The total supply of Terra Classic (LUNC) is 6.9T. - There are 6.5T LUNC in circulation. *Security* - The Terra blockchain is secured using a proof-of-stake consensus algorithm based on Tendermint. - LUNA token holders stake their tokens as collateral to validate transactions, receiving rewards in proportion to the amount of LUNA staked.
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