Recent updates surrounding Terraform Labs (TFL) could significantly boost Terra Classic (LUNC) in the coming weeks:

1. Token Burns: Binance’s ongoing support for the LUNC community includes burning a substantial number of tokens. The latest burn involved 1.7 billion LUNC tokens, contributing to a total of over 62 billion tokens burned. These burns help reduce the circulating supply, which could drive up the token’s price as demand remains steady or increases .

2. Staking Increases: The Terra Classic community has seen a rise in staking, with over one trillion LUNC tokens currently staked, reaching a staking ratio of 15.09%. Increased staking reflects growing community confidence and can further reduce the circulating supply, potentially boosting prices .

3. Market Listings and Trading Activity: Binance Thailand’s upcoming listing of LUNC and USTC is expected to increase market accessibility and trading volume, which could positively impact LUNC’s price. Additionally, recent increases in LUNC futures open interest indicate heightened investor interest and market activity .

4. Technical Indicators and Market Sentiment: Technical analysis shows LUNC developing a bullish reversal pattern, known as a “rounding bottom,” suggesting potential for price increases. The Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) also indicate a favorable market stance for LUNC .

5. Legal and Regulatory Developments: The impending resolution of the SEC lawsuit against TFL could also play a crucial role. A favorable outcome could boost investor confidence and positively impact LUNC’s price .