TOMORROW IS BINANCE'S LAUNCHING DAY OF 50% BUY & SELL COMMISSION
Over the past 30 days, LUNC has seen a substantial increase, with a reported 97.22% increase in value, fueling speculation as to whether this surge is a temporary spike or the start of a sustainable upward trend.
The surge in LUNC value is mainly due to several significant developments in the Terra ecosystem. Terra Classic Labs made a strategic investment of approximately $500,000 into TerraClassicUSD (USTC), an algorithmic stablecoin associated with the Terra platform.
LUNC/USDT Chart by TradingView This capital injection is seen as a confidence-boosting move that may have contributed to the recent price rise.
Additionally, the Terra Classic community has supported the token, with a concerted effort aimed at reviving the beleaguered assets, resulting in impressive price growth for USTC and LUNC over a single weekend. An important factor behind this rally is the significant token burn that has occurred.
More than 78.24 billion LUNC tokens have been destroyed, reducing the circulating supply to 5.8 trillion and potentially adding pressure to the token price.
This token burning mechanism is often used in the cryptocurrency industry to manage inflation and increase the value of the token by reducing the supply.
