In an electrifying development, Binance, the world’s largest cryptocurrency exchange, has demonstrated its commitment to revitalizing Terra Luna Classic ($LUNC ) by burning over 1 billion LUNC tokens. This monumental action represents the 27th batch in Binance's ongoing LUNC burn initiative and brings the total community burn to an impressive 137 billion tokens. With Terraform Labs also anticipated to initiate their own significant burn, the Terra Luna Classic community is filled with bullish anticipation, speculating whether LUNC’s price could surge to $0.0001 and ignite a rally.

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Binance’s Bold Burn: Over 1 Billion LUNC Tokens Erased

On November 1, Binance executed a substantial burn of 1.048 billion LUNC tokens as part of its efforts to support the Terra Luna Classic ecosystem. This latest move brings Binance's total burn to a staggering 66.66 billion tokens, while the entire Terra Classic community has collectively burned nearly 137 billion LUNC over the past two years. Notably, the tax costs associated with this transaction alone totaled 5.2 million LUNC, underscoring Binance’s commitment to the revival of the project.

In this 27th burn cycle, Binance effectively eliminated trading fees valued at $95,073.99 for the period spanning from September 30 to October 30. The exchange has consistently adhered to a burn strategy, sacrificing 50% of LUNC spot and margin trading fees each month in support of the Terra Luna Classic community's revitalization efforts.

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Price Rollercoaster: Can LUNC Rally to $0.0001?

Despite the substantial burn, LUNC’s price experienced an 8% decline in the past 24 hours, erasing gains made in the previous week amid broader turbulence in the crypto market. Currently trading at $0.00008936, LUNC has fluctuated within a narrow range, with a 24-hour low of $0.00008868 and a high of $0.00009834. Trading volumes have decreased by 50% over the same period, suggesting that traders are closely monitoring the situation for signs of a breakout.

Adding to the speculative excitement, Terraform Labs is expected to play a crucial role soon, as part of a bankruptcy court decision that could prompt an additional burn of LUNC and USTC. This potential development has many in the community eagerly anticipating the next significant move for Terra Luna Classic.

Meanwhile, USTC has also seen price fluctuations, dipping over 10% before recovering by 1% over the past week, currently trading at $0.0222, accompanied by similarly reduced trading volumes.

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What’s Next for Terra Luna Classic?

As Binance continues its burn strategy to reduce LUNC’s circulating supply, many investors hope that these initiatives will contribute to sustainable growth in Terra Luna Classic’s value. However, as with any movements in the crypto market, it is essential for investors to conduct thorough research and remain informed before making investment decisions.

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LUNC Community’s Revival Efforts: A Force to Be Reckoned With

The collaborative efforts of Binance, Terraform Labs, and the Terra Luna Classic community highlight a steadfast commitment to rejuvenating LUNC. With Binance’s latest burn adding momentum to this movement, all eyes are now on what lies ahead. Could this be the catalyst that propels LUNC to new heights?

As the Terra Luna Classic ecosystem progresses, it is crucial to stay updated on Binance’s ongoing contributions to the community’s revival efforts and to watch for pivotal price movements that could shape the future of LUNC.

#Lunc #Luncusdt

Beware of the $TON Scam: It Can Empty Your Wallet
TON Scam is a type of fake airdrop scheme where hackers trick you into emptying your entire wallet under the pretext of gas fees. These scams are being run by hackers on Telegram and other social networks. The unfortunate part is that no laws are being created to give these hackers the harsh punishment they deserve, such as the death penalty, nor are they being caught. This is all due to the incompetence and laziness of current politicians, whose actions are allowing hackers the freedom to operate unchecked.
Similarly, law enforcement agencies are failing to keep up with advancements in blockchain and the modern internet. They are not tracking down and catching these hackers, nor are they helping people recover their lost assets. Due to the negligence of these agencies, there is a risk that Europe and the United States may fall far behind China in the race for technological dominance.
If you're dealing with cryptocurrency or using any blockchain-related services, it's crucial to stay vigilant and avoid falling victim to such scams. Always verify the legitimacy of any airdrop offers or requests for gas fees, and never share your wallet details with anyone you don't trust completely.
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This article emphasizes the need for stricter laws, including the death penalty, to deter hackers and protect citizens from the growing threat of TON scams. It also calls for more proactive efforts from governments and law enforcement to address this issue.
$BTC $SHIB #FLOKIUSDT #Luncusdt #CryptoMarketMoves #MarketDownturn #BONKUSDT

The price of Terra Luna Classic has had a 5% increase during the last 24 hours, hitting a value of $0.00008179. This recent surge also represents a significant rise of 56% since its lowest point in mid-October of 2023.
The cryptocurrency LUNC has had a notable increase of 22% within a week and 40% over the course of the previous 30 days, coinciding with a growing bullish market attitude.
However, the Lunar University Network Coin (LUNC) has also had advantages as a result of the implementation of several beneficial Terra Luna Classic governance proposals. This includes the recent approval of a proposal to cease the creation of additional USTC tokens.
It is probable that this development will have a positive impact on the long-term price of LUNC. Additionally, it instills optimism regarding the potential for the LUNC community to collaborate on other advantageous suggestions in the foreseeable future.
The price prediction for Terra Luna Classic, denoted as LUNC, is being discussed in light of its recent 56% increase. This surge has prompted speculation about the potential commencement of a rally towards the $1 mark.
The LUNC has had a 5% increase within a single day, hence it is unsurprising that its chart and indicators exhibit a notable level of strength.
The relative strength index (RSI), specifically in the color purple, is exhibiting an upward trend, approaching the 70 mark once more. There is still room for further increase until the cryptocurrency reaches a state of being overbought.
The pricing chart for Terra Luna Classic.
The source of the information is TradingView.
In a more positive light, the 30-day average (represented by the color yellow) of LUNC demonstrates a consistent upward trend towards its 200-day average (shown by the color blue). It is worth noting that there is still a significant amount of time until it surpasses the aforementioned average and reaches its highest point.
An other positive development pertains to the support level (green) of LUNC, which has experienced an increase in recent weeks. This upward trend has endowed the cryptocurrency with elevated foundational levels, so facilitating the initiation of fresh rallies.
However, the 24-hour trading volume of this coin is quite low compared to other prominent tokens, currently standing at $40 million.
The current value of the token, while showing improvement compared to its October readings, remains very minor in comparison to larger tokens like as BTC, ETH, and SOL. However, there was a notable increase on November 10, with the value spiking to over $300 million.
The significance of the aforementioned occurrence lies in the fact that it was the moment when the Terra Luna Classic community collectively approved a resolution to cease the production and re-production of USTC.
This proposal aims to mitigate the establishment of more USTC, a measure that has the potential to bolster the value of both USTC and LUNC.
Furthermore, the aforementioned sentence serves as a valuable illustration of the LUNC community's successful consensus-building efforts, a task that has proven challenging during the current year.
Moreover, this has the ability to facilitate consensus throughout the community about other propositions.
Therefore, it is anticipated that the price of Terra Luna Classic will have a continuous upward trend in accordance with market conditions. It is plausible that the price may hit $0.00010 during the upcoming weeks and perhaps escalate to $0.00020 during the initial weeks of 2024.
#LUNC #Luncusdt #luna