Lunc
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 $LUNC and consider adding it to a diversified investment portfolio.
LUNCUSDTBINANCE:LUNCUSDT
⛔"Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help.#DYOR"
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luncThe first resistance of the red box
The first support of Green Box
In case of failure from either side, specific goals
A little patience and then actionThis currency is near its support zone, so there is still a possibility of further fall.
The safe entry point is marked in blue, which is after the formation of the twin bottom pattern.
Entering this currency can be risky now, but if a positive reaction is observed in the support range marked in green, we can experience a low-risk entry or after the first resistance in blue is broken.
Terra Luna Classic ($LUNC) Community Rejects Key Burn ProposalTerra Luna Classic community rejected a proposal to burn 800 million USTC, with LUNC and USTC price falling over 10%.
The Terra Luna Classic community rejected a proposal to burn 800 million TerraClassicUSD (USTC) as they look for better ways to burn these. The community believes there are easy ways to burn funds from the Risk Harbor (formerly Ozone Protocol) multisig wallet without an update and any legal consequences.
The Terra Luna Classic community was recently notified that Risk Harbor lost the keys and has agreed to blacklist the wallet.
LUNC price fell 13% in the past 24 hours, with the price currently trading at $0.000149. The 24-hour low and high are $0.000142 and $0.000168, respectively. However, trading volume has increased 20% in the last 24 hours.
Terra Classic Votes On 800 Million Burn For Another LUNC RallyThe Terra Luna Classic community votes on another proposal related to burning 800 million TerraClassicUSD (USTC). The proposal aims to burn funds from the Risk Harbor (formerly Ozone Protocol) multisig wallet through an update to Terrad client. It is similar to previous proposals on burning 800 million in the wallet, which was later blacklisted via a governance voting.
Terra Luna Classic Community Eyes 800 Million USTC Burn
Proposal 11913 “RH MultiSig Wallet – Burn 800m via Update to Terrad Client” is up for governance voting on the Station wallet. The new proposal aims to burn the 800 million USTC still in the Risk Harbor multisig wallet. The proposal deadline is December 19.
The community passed proposal 11832 to blacklist the wallet citing that “blacklisting allows for a reversible action, enabling fund recovery through governance if valid reasons are provided by the wallet owners.” However, the new proposal argues that no fund recovery via the wallet owners is possible and blacklisting serves no purpose anymore.
LUNC price is moving mostly sideways after a 22% fall in a week, with the price currently trading at $0.000175. The 24-hour low and high are $0.000170 and $0.000185, respectively. Moreover, trading volume has decreased by 57% in the last 24 hours.
This my projection for luncusdt in short term may be 2 weeksI don't know if we are in a real bull market or a trap. But we need to react to price movements. luncusdt has been getting stronger in the last few weeks and I think it will make a move again from here.
LUNC LONG ENTRYLUNC has formed a falling wedge pattern, indicating a breakout followed by a pullback. This suggests a potential bullish continuation with expectations of a rally or a return to the recent swing high.
LUNC/USDT Major trend. Downward wedge. Breakout.Logarithm. Time interval 3 days.
Locally 1 day .
Still, price is moving after the breakdown of the wedge (all the price drop in 10.5 months) in the area of the level 0.00008963. Percentages as before to key resistance levels, nothing has changed at the moment. Showed stop loss accumulation zones, this is very important to understand on such cryptocurrencies with high-risk and low liquidity. Perhaps there will be news for the chart soon. You should definitely get rid of such assets when pumping.
Linear without "market noise" .
LUNC Coin price analysis and next possible move !!Looks Like CRYPTOCAP:LUNC Token Price sucessfuly get rejected From weekly Resistance !!
• I think its a time to see some correction in CRYPTOCAP:LUNC Coin.
• Build short position on it if you want but make sure you set stoploss first before open trade + don't use upto 2% fund 20x leverage🚀❤
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Brief Analysis——LUNCTerra-FOMO has swept the crypto-market. Last week, Mint Cash, developed by a former Terraform Labs developer, released that may issue airdrop based on the hold or burn of specific tokens held in the original Terra ecosystem. Make Terra-related tokens, such as USTC, LUNC, etc. pump. Although Terraform Labs later stated that it would not participate in Mint Cash in any capacity. But FOMO has been ignited.
After USTC rose last week, LUNC began to make up for its gains over the weekend. From the long-term candle charts on other exchanges, we can see that the current rise is insignificant compared to the decline caused by the death spiral. To better display indicators and candles, we used data from Binance.
Although FOMO started in late November, it is interesting to note that on November 10, LUNC had a pump, accompanied by considerable trading volume. We mentioned this in LUNC, USTC Analysis & Market Overview. On-chain data shows that some whales have begun to buy LUNC or USTC before the price rises. If you are a LUNC trader, it is necessary to pay attention to the actions of these whales.
Let's look at the indicators to see what happened to LUNC at the 4h level.
As proof, we can see that the MBF indicator showed obvious bottom-buying sentiment near November 10. This is what we mentioned above. Whales had already started to buy LUNC before the Mint Cash event.
From the WTA indicator, the first period of rise (the first green interval) is classic. The bullish trend does not end here. But in the second green interval, the blue bars representing whales disappear on the way up. The alarm sounds. However, LUNC did not fall after this time. Instead, it was supported by the green column and gray column. After the green arrow appeared, whales flowed into LUNC again, and there was a new round of pump.
As long as a destructive candle does not appear, it will be difficult for the bullish trend of LUNC to end. The new round of rise is healthy so far. If you want to be more sensitive to whale behavior, you can check out our LUNC, USTC Analysis & Market Overview.
LUNC showing good investment opportunityHi Everyone;
today we have one of the best risk to reward Investment opportunity
it is more than 280 times the risk and the chart is look very promising.
There is been a lot of Drama around this coin, but as I always saying
when it come to TA no emotion should involved.
Bullish on $LUNC ?Terra Classic $LUNC had an increase the price more than 70% this month and they are now in a nearly resistance position around 0.0001285.
And i think LUNC could make a golden cross in early December this year.
Support can be entered (LUNC)❤️❤️Thanks for boosting 🚀 and supporting us!
📈And in the continuation of the upward trend, support can be entered.
📊 (Buy) : 12058
🔴 Stop Loss : 11102
🎯 Take Profit : 14469-15851-17115
🔗 For more communication with us, send a message in TradingView.
👨🎓 Experience and Education: Our trading team has five years of experience in financial markets, especially cryptocurrencies.
LUNC : Riding the UST (HYPE) Wave! 🌊📈In the current crypto landscape, all eyes are on Terra Classic (LUNC), riding the waves of positive attention. Amidst the buzz, it's essential to navigate carefully, especially with its close ties to the crypto dollar, UST, striving to reclaim its 1-to-1 peg with the US dollar. Let's explore the dynamics of LUNC against the backdrop of these developments.
Chart Analysis: Riding the UST Momentum
LUNC is experiencing a remarkable surge, closely tied to the positive sentiments surrounding UST. This surge is not merely a reflection of technical indicators but is intricately woven into the narrative of the crypto dollar's revival.
Key Observations:
UST's Resurgence Impact:
The surge in LUNC is notably synchronized with the efforts of UST to reestablish its 1-to-1 peg with the US dollar.
Positive developments around UST create a favorable environment for LUNC.
News-Driven Momentum:
LUNC's recent price movements are significantly influenced by positive news and developments within the Terra ecosystem.
News-driven momentum can create rapid and volatile market reactions.
Critical Levels: Caution in News-Driven Markets
Dependency on News Flows:
LUNC's sensitivity to news events makes it crucial for traders to stay vigilant.
Prices may experience sharp swings based on the unfolding narrative.
Potential Scenarios: Navigating LUNC's Event-Driven Landscape
Strategic Positioning:
Traders should strategically position themselves, considering the potential impact of ongoing developments.
Entry and exit points may be influenced by major news releases related to Terra and UST.
Volatility Management:
Due to the news-centric nature of LUNC's recent surge, managing volatility is paramount.
Risk mitigation strategies become essential in navigating a market driven by external factors.
Trading Strategy: Adapting to Dynamic News Flows
For traders considering LUNC:
News Calendar Awareness: Stay updated with the Terra ecosystem's news calendar to anticipate potential market-moving events.
Technical Analysis Integration: Combine technical analysis with an understanding of news sentiment for a comprehensive trading strategy.
Risk-Averse Approaches: Adopt risk-averse strategies, given the potential for rapid market shifts.
Conclusion: Navigating the LUNC and UST Symbiosis
LUNC's surge is emblematic of its symbiotic relationship with UST and the broader Terra ecosystem. While this presents trading opportunities, the close ties to news events demand a cautious approach. As the crypto community watches LUNC's ascent, traders are reminded to balance optimism with strategic risk management.
🚀 LUNC Analysis | 🌐 UST Peg Dynamics | 📰 News-Driven Market
❗See related ideas below❗
Share your insights on LUNC and UST, contributing to the collective intelligence of the crypto community. As LUNC continues its journey in the limelight, community-driven analyses enrich the understanding of its market dynamics. 💚🚀💚
Binance Burns 4 Billion Terra Luna Classic (LUNC) TokensBinance burns almost 4 billion Terra Luna Classic (LUNC) tokens, with total LUNC burn by the community reaching 83 billion.
The world’s largest crypto exchange Binance burns almost 4 billion Terra Luna Classic (LUNC) tokens in the 16th batch of the LUNC burn. With the latest LUNC burn, the total LUNC burn by the crypto exchange to date reaches more than 43 billion, 52% of the total tokens burned by the Terra Luna Classic community. Traders didn’t immediately respond to the Binance burn.
Binance’s Net Terra Luna Classic (LUNC) Burn Reaches 43 Billion
Crypto exchange Binance sent 3.90 billion Terra Luna Classic (LUNC) tokens to the burn address, as per the transaction on December 1. Binance continues contributing to the community’s LUNC burn campaign to reduce the LUNC circulating supply after the exit of Changpeng “CZ” Zhao as Binance CEO.
Notably, the 16th batch of the LUNC burn mechanism is for the period October 31 to November 29. With the latest burn, Binance has burned over 43 billion Terra Classic tokens from trading fees on LUNC spot and margin trading pairs. The community has burned nearly 83 billion LUNC tokens.
In November, Binance burned 760 million Terra Luna Classic (LUNC) tokens, the lowest till now. The burn rate significantly declined amid FUD, reduced developer activity, and a fall in LUNC trading volumes on the exchange.
However, the massive jump in trading volumes this week resulted in this huge LUNC burn the community hasn’t seen in the last few months. Binance launched a USTC perpetual contract and new USTC trading pairs FDUSD and TRY, which contribute massively to the exchange’s trading volume.
Terra Luna Classic ecosystem tokens fell in the last 24 hours, with LUNC and USTC giving up some recent gains due to profit booking in the broader crypto market. However,
LUNC price jumped 65% this week, with the price currently trading at $0.000142. The 24-hour low and high are $0.000114 and $0.000121, respectively. However, the trading volume has decreased in the last 24 hours.
Meanwhile, USTC price rallied 350% this week, with the price currently trading at $0.051. The 24-hour low and high are $0.050 and $0.055, respectively.
LUNCUSDTBINANCE:LUNCUSDT long idea
⛔"Daily crypto market analyses I provide are personal opinions & not financial advice. Trading carries risks, so do your own research & seek advisor's help.#DYOR"
Don't forget to like and comment
LUNC/USDT Bullish Trajectory in the Spotlight? 👀 🚀LUNC💎 Paradisers, turn your attention to LUNCUSDT as it showcases a compelling performance in the demand zone, signaling a strong likelihood of breaking through its resistance level for an upward trend.
💎 Reflecting on its past behavior, LUNCUSDT has a consistent record of surmounting its descending trendline, leading to bullish movements. Currently, after facing a rejection at the resistance level of .9673, the odds are tilting in favor of a resistance breach. This is further bolstered by its recent sweep of buying liquidity, reinforcing its position in the demand zone and the potential for continued upward momentum.
💎 However, should LUNCUSDT falter in maintaining this upward trajectory and descend below the demand level of .7806, a bullish strategy from the support level may come into play. A break below this threshold could pave the way for short-selling opportunities.
Why Is Luna Classic (LUNC) Price Skyrocketing Today?Luna Classic (LUNC) price has skyrocketed by 60% in response to strategic investment and USTC perpetual contract launch by Binance.
The sudden upsurge witnessed in Terra Classic tokens in the last 48 hours is not the first time for the Terra ecosystem. The community-led Terra Luna Classic chain witnessed multiple revival efforts from introducing burning to inter-blockchain communication (IBC). LUNC price has skyrocketed by 60% in response to strategic investment and perpetual contract launch by Binance.
Terra Luna Classic (LUNC) Gains 60%
With multiple key proposals passed by the community and positive sentiment amid broader crypto market recovery, Luna Classic Labs purchased 25.6 million USTC worth about $500,000 as part of its treasury reserve policy at an average purchase price of $0.021 per USTC. Trader QT, a partner of Luna Classic Labs, stated this is an initial investment.
It resulted in a 100% jump in USTC price, with the community noting a breakout above resistance. USTC witnessed a further pump as investors also poured money into USTC. It triggered an upside move in the Terra Classic (LUNC), with traders noting a massive increase in liquidity and trading volumes.
Binance Futures launching the USD-M USTC Perpetual Contract with up to 50x leverage sparked further rally. USTC price climbed nearly 400% in two days. The announcement further raised community sentiment, while also speculating whether it was already known to some investors as the Terra ecosystem tokens witnessed sudden rallies.
LUNC price also jumped and made a 60% gain amid the events. The price is currently trading at $0.000119. The 24-hour low and high are $0.0000787 and $0.0001256, respectively. Furthermore, the trading volume has increased by 1120% in the last 24 hours, indicating interest among traders.
USTC price trades at $0.055, paring earlier gains to 191% in the past 24 hours. The 24-hour low and high are $0.015 and $0.068, respectively. The trading volume has also slid briefly after Binance’s USTC perpetual trading announcement.
Terra Luna Classic Proposal For v2.3.0 Upgrade Officially PassedTerra Luna Classic proposal for the v2.3.0 upgrade has been approved by the community through governance voting. The on-chain deployment of terrad client v2.3.0, also referred to as “v6” incorporates dynamic validator commission module. Traders reacted immediately to the passing of the proposal with LUNC price rebounding again.
Terra Luna Classic Community Passes v2.3.0 Upgrade Proposal
The Terra Luna Classic community has approved Proposal 11874 “Upgrade to v2.3.0”. The proposal aimed to introduce dyncomm module, integrating protocol logic for determining minimum validator commissions based on voting power.
The scheduled upgrade height is 15493370, anticipated to happen on November 20 at 11.19 AM UTC, according to data by StakeBin.
The proposal has received 93% “Yes” votes and 7% “Abstain” votes. It indicates the community has unanimously favored the proposal for dynamic validator commission.
Among the 60 validators who participated in the voting, 58 validators have favored the proposal. This includes top Terra Luna Classic validators including All nodes, Interstellar Lounge, Happy Catty Crypto, Terra CVita, and Inter stake One.
LUNC Price Surges
LUNC price jumped 1% after hitting a 24-hour low of $0.000074, with the price currently trading at $0.0000758. Furthermore, the trading volume has decreased by 20% in the last 24 hours, indicating a decline in the interest of traders.
LUNC price rebounded amid the market-wide recovery, up nearly 40% in a month. Meanwhile, USTC price trades at $0.013, up 20% in a month.
