👀 Copy Legendary Investors' Portfolios in One ClickCopy For Free

LUNC’s Price Surges, Market Cap Hit $1 Billion: What’s Happening?

Published 02/03/2024, 09:38
Updated 02/03/2024, 09:45
LUNC’s Price Surges, Market Cap Hit $1 Billion: What’s Happening?
LUNA
-
LUNC/USD
-

Coin Edition -

  • LUNC’s price increased and its market cap surpassed the $1 billion market.
  • Bulls continued to dictate the momentum with the Fibonacci extension, suggesting a climb to $0.000016.
  • The 20 EMA flipped the 50 EMA on the daily chart, reinforcing the price increase potential.

In the last 24 hours, the price of Terra Classic (LUNC) has increased by a tremendous 29.45%, according to CoinMarketCap data. The price increase also affected its market cap which rose above the $1 billion mark.

LUNC’s price increase came amid growing bullish sentiment in the market. However, there was another catalyst that pushed LUNC’s price higher which was the Binance burn. On March 1, Binance burned 2.21 billion LUNC tokens.

The idea behind the burning is to make the token scarce while boosting the value if demand increases. Furthermore, ‘Vegas’, a prominent member of the Terra community revealed that the number of tokens burned in total has crossed 100 billion.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.