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LUNC Token Eyes Recovery as Binance Burn Looms Following 26% Monthly Dip

Published 29/06/2024, 01:00
LUNC Token Eyes Recovery as Binance Burn Looms Following 26% Monthly Dip
BNB/USD
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LUNAt/USD
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Coin Edition -

  • LUNC’s price stabilized above $0.000080 after a 26% monthly decline.

  • Binance’s upcoming LUNC burn fuels market optimism despite a dip in trading volume.

  • Terra Luna Classic’s staking ratio rises to 14.83% with over 1 trillion LUNC staked.

Terra Classic’s LUNC token experienced a notable downturn over the past month, declining more than 26%. According to data from Coinmarketcap, LUNC reached its monthly peak at $0.0001253 before falling sharply to a low of $0.00007334.

Following this dip, the token stabilized, maintaining its position above the $0.000080 support level. The daily chart indicates a slight recovery for LUNC, with a modest increase of 1.67%.

Source: Coinmarketcap

At press time, LUNC was trading at $0.00008396. Additionally, the token’s intraday market cap surged to $460,930,474, placing it at the 128th spot in market rankings.

This positive turn comes ahead of a significant LUNC burn scheduled by crypto exchange Binance next week, which has infused some optimism into the market sentiment. Despite this, the token’s 24-hour trading volume has dipped by 14.83% to $20,613,785, indicating a waning interest among investors.

Meanwhile, the USTC token has seen a contrasting movement, edging up by 1.51% to $0.01829, despite a notable 31% decrease in trading volumes over the past day. Its price fluctuated between $0.01803 and $0.01842 during this period.

LUNC Community’s Focus on Burn Mechanism

The Terra Luna Classic community eagerly anticipates the Binance LUNC burn mechanism, which is expected to play a crucial role in reducing the overall LUNC supply. Recent data shows that LUNC’s total supply has decreased to 6.79 trillion following significant trading volumes and burn events.

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