Terra Luna Classic Saw 2.27T Weekly Volume, LUNC Price Set to Hit $0.0005?
Terra Luna Classic has gained investors’ attention lately, especially with the soaring volume of the token. According to reports, the weekly volume of Terra Classic soared past the 2.27 trillion mark on Binance last week, sparking optimism over LUNC price’s potential rally to $0.0005 next. So, let’s take a quick look at the recent report details and see how it could significantly boost the token’s price.
Terra Luna Classic Volume Soars Amid Upcoming Burn Optimism
The Terra Luna Classic Foundation recently revealed that LUNC’s trading volume hit a remarkable 2.27 trillion tokens on Binance last week. In an X post, they announced that 50% of the trading fees generated would go toward buying back and burning LUNC.
This announcement has fueled investors’ optimism over a potential price rally ahead, as reduced token supply often positively impacts prices. Adding to the excitement, Binance is set to conduct its next burn event in 12 days, the post added. Historically, similar burns have bolstered the LUNC price, and this event is no exception to heightened market expectations.
Meanwhile, in parallel, the Terra Classic community has made strides in governance. A proposal to transfer CoinMarketCap dashboard access to Allnodes, a leading validator, was recently approved. This move aims to enhance transparency and streamline operations, further boosting investors’ confidence.
LUNC Price To Hit $0.0005?
The Terra Luna Classic community’s proactive efforts, including token burns and governance updates, have strengthened optimism for a price surge. Besides, the upcoming Binance burn is poised to remove a significant chunk of tokens from circulation, which might also boost the asset’s value higher in the coming days.
However, LUNC price today was down more than 1.5% to $0.0001088, while its trading volume dropped by 65% to $68 million. Over the last 24 hours, the token has touched a high of $0.0001119, while noting a weekly gains of 10%.
Terra Classic Futures Open Interest decreased by 11% to $9.33 million, CoinGlass data showed, indicating investors are taking a pause ahead of the highly anticipated Binance burn. However, a recent LUNC price analysis hints at a potential 480% rally for the crypto, which might send its price to $0.000593.
- CZ Endorses Hyperliquid Rival Aster DEX, Token Rallies 1,500%
- Tom Lee’s BitMine Adds $84M in ETH as Expert Predicts Ethereum Rally to $5K
- Grayscale’s Crypto Index Fund Sees ‘Solid Start’ as SOL, XRP Institutional Demand Climbs
- Senate Democrats Urge Republicans for ‘True Collaboration’ to Quickly Pass CLARITY Act
- Crypto Market Correction Intensifies As S&P 500, DXY Enter Dangerous Territory
- Dogecoin Price Prediction: Grayscale ETF Move Aligns With Cycle Breakout
- Chainlink Price Prediction: Whales Scoop 2M LINK as Analysts Eye 184% Breakout Rally
- Shiba Inu (SHIB) Price Prediction: Massive SHIB Burn and 80-Week Cycle Mirroring Past Rallies: Will History Repeat?
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
