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Can LUNC Token Burn Program Lead to Price Surge?The price of Terra Classic ( SEED_DONKEYDAN_MARKET_CAP:LUNC ) has been a cause of worry for investors ever since it dropped significantly from its peak of $119 in April 2022. Recent developments, such as the ongoing token burn program and the upcoming Bitcoin halving event, have sparked discussions about the potential of LUNC price rising once again. Currently, Terra Classic ( SEED_DONKEYDAN_MARKET_CAP:LUNC ) is trading at around $0.0001563, with a market capitalization of $896.32 million. Despite the prevailing bearish sentiment, the Fear & Greed Index stands at 85, indicating that investors are extremely greedy. Although past performance may not always predict future outcomes, we have identified three developments that could potentially cause Terra Classic ( SEED_DONKEYDAN_MARKET_CAP:LUNC ) price to rise to $0.01 after the anticipated Bitcoin halving event. 1. Token Burn Program Gains Traction: The continuous token burn program led by the Terra Classic community to decrease supply and potentially enhance the value of remaining tokens is a significant factor influencing LUNC’s path. The initiative aims to positively shape LUNC’s value by burning over 100 billion LUNC, with Binance contributing over 51% of the burn. The upcoming burning event on March 1, 2024, highlights the community’s commitment to this program. Analysts stress that external market dynamics heavily influence price movements, making long-term forecasts challenging, despite past burns having shown temporary price spikes. 2. Proposal 12073 Approved: Potential Impact on USTC and SEED_DONKEYDAN_MARKET_CAP:LUNC : The recent approval of Proposal 12073 permits the burning of 800 million USTC from the Risk Harbor multisig wallet, potentially affecting both USTC and LUNC. Following approval, USTC saw a 25% price surge. While a direct link between USTC and SEED_DONKEYDAN_MARKET_CAP:LUNC isn’t guaranteed, a thriving USTC could indirectly benefit $LUNC. Nevertheless, experts advise caution due to uncertainties surrounding this proposal’s long-term implications on LUNC’s price. 3. Bitcoin Halving: Potential Market Catalyst: The upcoming Bitcoin halving in 2024 is a crucial event known to impact the broader cryptocurrency market. As Bitcoin supply decreases, scarcity typically drives its price higher, historically benefiting other cryptocurrencies like LUNC.
Long
by DEXWireNews
LUNC Luna Classic Is About To DieA lot of these tokens in the next couple years are going to bleed out to zero. With the new Bitcoin ETFs and big money in the space they arent buying Luna, or BNB, or name your coin. They are buying what regulators have allowed them to buy. So far thats only Bitcoin,Ethereum, Litecoin, and Bitcoin Cash. This next bullrun will be utility, and regulatory based for the big players. People holding these tokens like LUNC are going to eventually dump. Luna will never go to even a penny never mind a dollar. Its looking extremely bearish to me. Maybe one more dead cat bounce before Luna falls into the shadow realms. LUNA wont be the only one suffering this fate either. This next bullrun and after is going to delete most of the crap out there. You'll always have the casino where people play hot potato with the meme coins that come out every minute of the day. Real money is not going into this stuff though. Good luck and I wish you all the best, hate to see LUNA get rugged a second time, that would be some serious salt in the wounds. Not financial advice. Descending triangle and Stoch RSI pointed straight down.
KRAKEN:LUNAUSDShort
by Bitgolder
9
Binance Burns 2.1 Billion Terra Luna Classic (LUNC) TokensBinance, the world's largest cryptocurrency exchange, recently burned a staggering 2.1 billion SEED_DONKEYDAN_MARKET_CAP:LUNC tokens. This move marks the 18th batch of the SEED_DONKEYDAN_MARKET_CAP:LUNC burn mechanism, bringing the total number of tokens burned by Binance to over 50 billion. With the broader community effort, the SEED_DONKEYDAN_MARKET_CAP:LUNC burn is on the cusp of reaching a monumental 100 billion milestone. Binance's Role in the SEED_DONKEYDAN_MARKET_CAP:LUNC Burn: The recent burn, executed on January 1, saw 2.1 billion SEED_DONKEYDAN_MARKET_CAP:LUNC tokens sent to the burn address terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu. This action further solidifies Binance's commitment to reducing the circulating supply of SEED_DONKEYDAN_MARKET_CAP:LUNC tokens. The exchange's contribution now stands at an impressive 52.4% of the total tokens burned by the Terra Luna Classic community. Increasing Burn Rates and Trading Volume: January witnessed a substantial increase in the burn rate, with 5.57 billion SEED_DONKEYDAN_MARKET_CAP:LUNC tokens incinerated by Binance. This surge in burning activity can be attributed to a significant uptick in SEED_DONKEYDAN_MARKET_CAP:LUNC trading volume on the exchange. Binance, along with other crypto platforms, introduced a USTC perpetual contract and new OTC:USTC and SEED_DONKEYDAN_MARKET_CAP:LUNC trading pairs, fostering a conducive environment for increased token trading. Community Collaboration and Milestones: The Terra Luna Classic burn campaign, a collaborative effort involving crypto exchanges, validators, projects, and community members, has propelled the total burn close to the 100 billion SEED_DONKEYDAN_MARKET_CAP:LUNC landmark. On average, the community burns an impressive 600 million SEED_DONKEYDAN_MARKET_CAP:LUNC per week, showcasing the collective dedication to reducing the token's circulating supply. Market Performance and Challenges: While the SEED_DONKEYDAN_MARKET_CAP:LUNC community remains bullish about the token hitting local highs, recent market trends have presented some challenges. SEED_DONKEYDAN_MARKET_CAP:LUNC prices experienced a 7% decline this week, currently trading at $0.00009444. Conclusion: The recent burn of 2.1 billion SEED_DONKEYDAN_MARKET_CAP:LUNC tokens by Binance marks a crucial step towards the community's ambitious goal of reaching the 100 billion milestone. As the Terra Luna Classic ecosystem continues to evolve, collaborations between crypto exchanges, validators, and community members remain integral to the success of the burn campaign. Despite short-term market fluctuations, the collective efforts underline a resilient commitment to shaping the future of the Terra Luna Classic token. Investors and enthusiasts alike await further developments as the community inches closer to achieving this monumental milestone.
Short
by DEXWireNews
7
LUNC/USDT Poised for Exponential Bull Run? 👀🚀LUNC Analysis💎Paradisers, let's take a closer look at #LUNCUSDT, as the current formation suggests a possibility for a significant bullish recovery from its pivotal support zone. 💎Reviewing #TerraClassic's recent market trends, we've observed a substantial 70% decrease after it met resistance at a crucial supply level. However, a certain resilience is noticeable around the support level of $0.000091, indicating a potential upward trajectory. 💎Despite the recent challenges in establishing new highs or exceeding past peaks, resulting in a short-term bearish view, the $0.000091 mark is essential for #LUNC. This level may well be the key to triggering a substantial bullish movement upon retesting. 💎As strategic traders, we're always prepared with an alternative plan. If #LUNC drops below the $0.000091 support, we're ready to target a bullish comeback starting from the next support at $0.000059. However, be aware that a descent below this secondary level might point to more extensive downtrends. 💎Maintain flexibility in your strategies and stay vigilant with the market trends, Paradisers. Your ParadiseTeam is continually monitoring, prepared to steer you through these market changes.
Long
by MyCryptoParadise_Simon
Terra Classic Burn Hits 95 Billion Milestone The Terra Luna Classic ( SEED_DONKEYDAN_MARKET_CAP:LUNC ) community is celebrating a remarkable milestone as its ongoing burn campaign reaches an impressive 95 billion SEED_DONKEYDAN_MARKET_CAP:LUNC since May 2022. This achievement, driven by the collaborative efforts of crypto exchanges, validators, projects, and dedicated community members, signifies a substantial reduction in the circulating supply of $LUNC. Notably, Binance, the world's leading cryptocurrency exchange, has played a pivotal role, contributing over 51.7% to the total burn, showcasing the community's commitment to long-term sustainability. SEED_DONKEYDAN_MARKET_CAP:LUNC Burn Milestone: The Terra Luna Classic burn campaign has witnessed consistent progress, with an average weekly burn of 600 million SEED_DONKEYDAN_MARKET_CAP:LUNC per week. This figure has experienced a notable uptick since November, indicating a growing momentum within the community. Binance's monthly SEED_DONKEYDAN_MARKET_CAP:LUNC burn mechanism has been a driving force, accounting for nearly 50 billion SEED_DONKEYDAN_MARKET_CAP:LUNC in total. As the SEED_DONKEYDAN_MARKET_CAP:LUNC token's circulating supply stands at 5.78 trillion and the total supply at 6.81 trillion SEED_DONKEYDAN_MARKET_CAP:LUNC , this achievement underscores the community's determination to manage and optimize the token's availability in the market. Binance's Significant Contribution: Binance's involvement in the SEED_DONKEYDAN_MARKET_CAP:LUNC burn is substantial, making up over 51% of the total burned tokens. The recent 17th batch of the SEED_DONKEYDAN_MARKET_CAP:LUNC burn mechanism saw Binance burning 5.57 billion Terra Luna Classic ( SEED_DONKEYDAN_MARKET_CAP:LUNC ) tokens. With the total amount burned by Binance nearing 50 billion, it demonstrates the exchange's commitment to supporting the Terra Luna Classic community's goals. Community Initiatives and Challenges: While the SEED_DONKEYDAN_MARKET_CAP:LUNC burn campaign has achieved an impressive milestone, the community recognizes the need for continued efforts in utility, funding, and chain developments. In an effort to further boost the burn rate, the community has explored burning USTC and SEED_DONKEYDAN_MARKET_CAP:LUNC held in other protocols. However, a clear directive is essential to proceed with these initiatives, showcasing the importance of strategic planning and coordination within the community. Market Response and Price Rally: The broader market recovery after the monthly expiry has had a significant impact on the prices of both SEED_DONKEYDAN_MARKET_CAP:LUNC and USTC. SEED_DONKEYDAN_MARKET_CAP:LUNC has experienced an 8% surge in the last 24 hours, currently trading at $0.0001012. The 24-hour high and low are $0.0000951 and $0.0001032, respectively. Trading volume has spiked by 100%, indicating heightened interest among traders. Meanwhile, USTC has seen an impressive 11% surge, currently trading at $0.02652, with a 24-hour low of $0.02467 and a high of $0.02713. Conclusion: The Terra Luna Classic community's achievement of burning 95 billion SEED_DONKEYDAN_MARKET_CAP:LUNC marks a significant milestone, showcasing the dedication and collaboration within the community. With Binance's substantial contribution and the market responding positively with increased prices and trading volume, the future looks promising for Terra Luna Classic. As the community continues to focus on utility and development initiatives, the ongoing success of the SEED_DONKEYDAN_MARKET_CAP:LUNC burn campaign positions Terra Luna Classic as a project to watch in the dynamic world of cryptocurrencies.
Long
by DEXWireNews
Terra Classic's Bold Move: EVM Integration and the LUNC SurgeThe Terra Classic community has recently made waves in the crypto sphere with its groundbreaking proposal to integrate the Ethereum Virtual Machine (EVM) into its platform. This strategic move has captured the attention of the global crypto market, positioning Terra Classic as a player to watch in the evolving landscape of blockchain technology. EVM Integration Unveiled: In a significant development, the Terra Classic community unveiled its successful EVM proposal, signaling a new era for the platform. By embracing the Ethereum Virtual Machine, Terra Classic aims to enhance its flexibility and align with the latest advancements in the crypto space. This move positions Terra Classic to become compliant with emerging technologies globally, opening the door to exciting possibilities for its native token, $LUNC. EVM's Dominance and Terra Classic's Vision: The decision to integrate EVM comes as no surprise, given its status as the gold standard for blockchain development since 2013. EVM boasts a massive network, encompassing over 910 separate chains. Terra Classic's strategic alignment with EVM reflects a vision to leverage the dominant standard in the crypto realm, facilitating interoperability and adoption of widely-used blockchain development standards. The Voting Landscape: The proposal faced a divided community, with 44% in favor, 42% against, 12.06% abstaining, and a minimal 0.20% voting with a veto. Despite the divided sentiments, the proposal is gaining traction, inching closer to the 50% pass threshold. This democratic process showcases the Terra Classic community's commitment to inclusive decision-making and reflects the importance of the EVM integration to the platform's future. Impact on Transactions and Processing Power: With EVM support, Terra Classic anticipates a significant boost in transaction processing capabilities. The integration aims to enable the platform to handle a higher volume of transactions efficiently. This enhancement in processing power is poised to elevate Terra Classic's standing in the crypto space, attracting attention from developers and projects seeking a robust and scalable blockchain infrastructure. $LUNC Price Movement: In response to the EVM integration proposal, the price of $LUNC experienced a minor surge of 0.70%, currently trading at $0.00012579. However, the weekly chart paints a more optimistic picture, showcasing a notable 5.80% surge. As the market digests the implications of the EVM integration, crypto enthusiasts are eagerly anticipating a potential surge in $LUNC prices in the near future. Conclusion: Terra Classic's strategic move to integrate EVM reflects a commitment to innovation and adaptability in the ever-evolving crypto landscape. The community's decision to embrace EVM positions Terra Classic as a platform ready to harness the power of widely-accepted blockchain standards. As the proposal gains momentum, the future looks promising for both Terra Classic and its native token, $LUNC, with the potential for increased adoption, interoperability, and a surge in market value.
Long
by DEXWireNews
2
LUNC/USDT upward momentum? 👀 🚀LUNC Today Analysis💎 Paradisers, give your full attention to #LUNCUSDT as it's displaying unmistakable signs of an imminent substantial move from a pivotal demand level. 💎 Currently, #LUNC is exhibiting an upward trend, suggesting a bullish continuation. This follows its adherence to a descending channel pattern, where it has consistently respected the channel's resistance. We are eyeing a bullish continuation at the demand level of $0.00010370, which could catalyze further upward momentum. If #LUNCCOIN sustains above this level, it could journey towards a major resistance zone at $0.00026419. 💎 However, if #LUNC struggles to stay above the $10370 mark, it might necessitate a rethink of our strategy. In this event, our focus might shift to a bullish push from an alternative demand level at $0.00008034. This particular level is noteworthy due to its history of triggering impulsive moves. 💎 A breach below this level could lead to a significant downward trajectory.
Long
by MyCryptoParadise
Luna Classic Embracing EVM for a Resurgence in ProgrammabilityTerra Luna Classic ($LUNC) is set to undergo a transformative revival as it embraces Ethereum Virtual Machine (EVM) support. The proposal, aptly named "Investigate EVM Functionality" (Proposal 11978), has garnered significant community support, signaling a strategic move towards enhanced programmability, composability, and interoperability. This bold initiative positions Terra Luna Classic to join the ranks of blockchain projects adopting widely-used standards, potentially attracting major players like Curve DAO, Uniswap, ChainLink, Hedera, and others. The EVM Support Proposition: Terra Luna Classic's proposal to introduce EVM support is more than just a technical upgrade; it's a visionary step towards adapting to new and emerging technologies. By integrating the Ethereum Virtual Machine, Terra Luna Classic aims to leverage the programming capabilities offered by the Solidity language, a hallmark of EVM chains. This move aligns the community-led Terra Classic chain with cutting-edge developments in the blockchain space. Advantages and Functionality: The advantages of EVM support on Terra Luna Classic are manifold. The proposal emphasizes the potential for the chain to seamlessly integrate with Optimistic transactions and Rollups, promising increased efficiency and scalability. Optimistic transactions, in particular, offer a novel approach where Terra Classic can execute transactions without revealing direct security information, enhancing privacy and security. As ClanMudhorn of Terrarium validator points out, "Terra Classic will have the potential to become compliant with new and emerging technologies like Optimistic transactions, where Terra Classic does not need to send direct security information on each transaction, and Rollups, which allow significantly more transactions to be processed at once, dramatically increasing the processing power of Terra Classic." Community Support and Governance-Driven Decision Making: The proposal has already surpassed the pass threshold, with over 62% of the community voting in favor. A total of 29 validators have thrown their support behind the initiative, showcasing the widespread enthusiasm for the integration of EVM functionality. The voting deadline is set for January 17, and if all goes as planned, Terra Luna Classic will mark a significant milestone in its evolution. Strategic Interoperability and Industry Adoption: By incorporating EVM support, Terra Luna Classic positions itself strategically in the blockchain ecosystem. The move towards interoperability and adherence to widely-used blockchain development standards open the door to collaborations with major projects in the space. The proposal specifically mentions the potential integration with Curve DAO, Uniswap, ChainLink, Hedera, and others, which could bring a new wave of innovation and utility to Terra Luna Classic. Conclusion: Terra Luna Classic's pursuit of EVM support is a compelling narrative of adaptation and evolution in the fast-paced world of blockchain technology. The community's endorsement of the proposal underscores the collective vision for Terra Luna Classic's future. As the voting deadline approaches, the crypto community eagerly anticipates the resurgence of Terra Luna Classic as it ventures into a new era of programmability, composability, and interoperability, setting the stage for a dynamic and inclusive blockchain ecosystem.
Long
by DEXWireNews
Binance Burns 5.57 Billion Terra Luna Classic In the fast-paced world of cryptocurrency, Terra Luna Classic ($LUNC) has been making headlines, and for good reason. The recent burn of 5.57 billion $LUNC tokens by Binance in its 17th batch signals a significant step towards scarcity, creating a unique opportunity for investors. With the total $LUNC burned by the community surpassing 93 billion, the ecosystem is heating up, and investors should take notice. We will delve into the recent developments, the impact on $LUNC prices, and why now might be the perfect time for buyers to consider adding $LUNC to their portfolios. 1. Binance's Ongoing Commitment: Binance, the world's largest crypto exchange, has consistently demonstrated its commitment to the Terra Luna Classic community through the burn mechanism. The recent burn of 5.57 billion LUNC tokens not only reflects Binance's trust in the project but also contributes to the overall reduction of circulating supply, potentially driving up the value of LUNC in the long run. 2. Impressive Burn Metrics: The numbers speak for themselves – with over 49 billion $LUNC tokens burned to date by Binance, accounting for 53% of the total tokens burned by the community, the scarcity factor is increasingly becoming a pivotal element. The positive market response to each burn event, as evidenced by the 7% price surge in both $LUNC and USTC, indicates a strong demand for Terra Luna Classic tokens. 3. Ecosystem Expansion: The recent surge in $LUNC trading volume, coupled with the introduction of USTC perpetual contracts and new trading pairs on Binance and other exchanges, has significantly contributed to the ecosystem's growth. As the Terra Luna Classic community continues to expand, the demand for LUNC tokens is likely to follow suit, potentially driving prices higher. 4. Bullish Start to the Year: The bullish sentiment at the beginning of the year, fueled by the latest burn event and a broader market rally, positions $LUNC as an attractive investment option. The 8% price jump in the last 24 hours indicates a positive trajectory, and investors looking to capitalize on the momentum may find $LUNC to be a compelling choice. 5. Potential for Future Gains: As $LUNC currently trades at $0.000144, there is room for growth, especially considering the recent developments and ongoing burn mechanism. While the trading volume has seen a temporary decrease, this could be an opportunity for savvy investors to enter the market before a potential uptrend. Seizing opportunities at the right moment is crucial. The recent burn events, coupled with the broader market rally and ecosystem expansion, make Terra Luna Classic ($LUNC) an intriguing investment option. As always, potential investors should conduct thorough research and consider the inherent risks associated with cryptocurrency investments. However, the current scenario suggests that now might be an opportune time to explore the potential of $LUNC and consider adding it to a diversified investment portfolio.
Long
by DEXWireNews
2