In an exciting update, Binance, the world’s largest cryptocurrency exchange, has reinforced its commitment to reviving Terra Luna Classic (LUNC) by burning over 1 billion LUNC tokens. This massive burn, the 27th in Binance’s ongoing LUNC burn initiative, pushes the community’s total burn to an impressive 137 billion tokens. With Terraform Labs expected to join in with its own burn, the Terra Luna Classic community is buzzing with anticipation. Could $LUNC reach $0.0001 and ignite a rally?
Binance’s Bold Move: Over a Billion LUNC Tokens Burned
On November 1, Binance burned 1.048 billion LUNC tokens to support the Terra Luna Classic ecosystem. This brings Binance’s total burn to 66.66 billion tokens, while the Terra Classic community’s collective burn over two years nears 137 billion LUNC. The tax on this burn alone amounted to 5.2 million LUNC, highlighting Binance’s dedication to the project’s revival.
In this 27th burn cycle, Binance eliminated trading fees worth $95,073.99 for the period from September 30 to October 30, continuing its commitment to burning 50% of LUNC spot and margin trading fees monthly.
Price Volatility: Can LUNC Reach $0.0001?
Despite the burn, LUNC’s price dipped 8% in the past 24 hours, wiping out gains from last week amid market fluctuations. Currently trading at $0.00008936, LUNC has moved within a tight range, with a recent low of $0.00008868 and a high of $0.00009834. Trading volume has dropped by 50%, indicating that traders are watching for breakout signs.
Adding to the anticipation, Terraform Labs may play a key role with a bankruptcy court decision that could lead to more LUNC and USTC burns. The community eagerly awaits this move, which could prove pivotal for Terra Luna Classic’s path.
Meanwhile, USTC’s price dropped over 10% but recovered 1% over the past week, now trading at $0.0222 with lower trading volume.
What’s Next for Terra Luna Classic?
With Binance’s burns reducing LUNC’s circulating supply, many hope for a rise in Terra Luna Classic’s value. Investors are advised to stay informed before making decisions.
LUNC Community’s Revival Efforts: A Force in Motion
The combined efforts of Binance, Terraform Labs, and the Terra Luna Classic community show a strong push to revitalize LUNC. With Binance’s latest burn adding momentum, all eyes are now on the future. Could this be the spark that drives LUNC to new highs?
As the Terra Luna Classic ecosystem evolves, keep an eye on Binance’s contributions and watch for the next key price movements.
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