Binance announced the launch of spot trading pairs such as LUNC and IOTA, driving the price of Terra Classic to further increase.
Front also started to start, and we also suggested holding around 0.3. The highest increase was more than 30% at 0.4. Spot requires patience, and it is fine as long as the expected harvest is achieved. It is also our strong benchmark.
Binance adds LUNC, IOTA, and other spot trading pairs
Pioneering cryptocurrency exchange Binance has once again set the stage on fire with its latest trading pair announcement. Also new are the AUCTION/FDUSD, IOTA/FDUSD, LUNC/TRY, and SUPER/TRY spot trading pairs, scheduled to start on December 5, 2023 at 08:00 UTC.
Notably, according to the announcement, users can enjoy zero maker fees on FDUSD trading pairs until further notice, providing an attractive incentive for active traders.
Meanwhile, attention is focused on the Terra Classic (LUNC) cryptocurrency, which has recently experienced an extraordinary surge, witnessing a staggering surge in its value over the past 24 hours. This surge came after Binance’s extraordinary decision last week to destroy nearly 4 billion LUNC tokens in its 16th batch of LUNC destruction mechanism.
According to previous reports, Binance has destroyed a total of 43 billion LUNC tokens, accounting for 52% of the total tokens destroyed by the Terra Luna Classic community. It is worth noting that this strategic move not only increases the scarcity of LUNC tokens, but also drives the value of cryptocurrencies, generating a chain reaction throughout the market.
Other recent developments and LUNC prices
Interestingly, Binance’s recent foray into USTC perpetual contracts adds another layer of complexity to the unfolding story. On November 27, Binance surprised the crypto community by announcing the launch of USTC perpetual contracts with up to 50x leverage.
Notably, the news coincided with an unexpected surge in the prices of TerraClassicUSD (USTC) and Terra Classic (LUNC). USTC perpetual trading was launched at 12:30 UTC on the same day, triggering a surge in trading volumes for LUNC and USTC.
As Binance continues to make strategic moves, the crypto market remains on edge, eagerly anticipating the impact of these groundbreaking decisions. The listing of LUNC, coupled with the recent burn mechanism and launch of USTC perpetual contracts, highlights Binance’s commitment to innovation and its significant impact in shaping the dynamics of the evolving crypto landscape.
Meanwhile, as of writing, LUNC price has increased by 57.41% in the past 24 hours, trading at $0.000264, with trading volume surging 217.22% to $1.23 billion. Notably, the cryptocurrency also hit a yearly high of $0.0002738 in the past 24 hours of trading. With the recent surge, LUNC price has risen by more than 125% in the past 7 days and nearly 309% in 30 days.
【Disclaimer】The market is risky, so be cautious when investing. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions in this article are suitable for their specific circumstances. Investing based on this information is at your own risk.
