A remarkable comeback has been launched by LUNC in spite of the turbulent year 2023, which saw major exchanges de-list Terra Luna Classic. However, the price of Terra Luna Classic has dropped by twenty percent, raising the question of whether or not it will ever reach zero.
The upward price movement appears to have been energized by a mechanism known as quick-fire burn, which has been causing a continuous reduction in the overall supply of LUNC.

It is true that over 150,000,000 LUNC have been burnt in the previous twenty-four hours; nevertheless, the decrease in price comes amid mounting difficulties for Do Kwon, the creator of Terraform Labs. Just last week, a judge ruled in conjunction with the Securities and Exchanges Commission that Kwon had breached the law.
A month-long bleed-out that has seen price collapse a frightening -64% has left price action teetering on the brink of slipping back into rock-bottom price levels. This comes as price retraces from upper trendline resistance around $0.00027960. The bleed-out has been going on for a month.
After losing its supporting footing from the 20-day moving average on December 15, moving averages have played a big part in the price movement that has been moving in a downward direction over the previous two weeks.
The LUNC
The 20-day moving average, which is currently located at $0.00014990, has become a barrier, which has resulted in a descendant capstone that has caused the price to move downward.

In the meantime, the 200-day moving average (DMA) continues to mirror the current upswing recovery, with a continuous but steady ascent at $0.00008945 levels.
There is now a vital local support at $0.00011525 that serves as the last hope for those who are anxious to hold LUNC and are afraid of a return to surrender.
However, there is a ray of light that comes from the Relative Strength Index (RSI), which has dramatically cooled down during the course of the retracement move and is currently displaying major oversold bullish divergence at 35.31, which suggests that price may soon resume upward moves.
On the other hand, this is in contrast to the negative emotion that is being displayed by the MACD, which is indicating bearish divergence at -0.00000523, highlighting the ephemeral momentum.
All things considered, Terra Luna Classic appears to be in a precarious position, with the rally structure on the edge of collapsing in the midst of terrible project fundamentals as a result of the Do Kwon court verdict.
This leaves LUNC with the objective of achieving a rebound to higher support above $0.00013525, which may result in a probable increase of 15.84 percent.
However, there is a possibility that LUNC will fall to a lower price level of $0.0000805, which would represent a potential decrease of 31%.
As a result, Terra Luna Classic is currently facing a risk: reward ratio of 0.51, which indicates a poor entrance that is dominated by the danger of being negatively affected.
#LUNC #USTC #LuncBurn $LUNC

Binance CEO LUNC holdings disclose renewed Terra Luna Classic community sentiment to revive LUNC and USTC to $1.

The world’s largest crypto exchange Binance has successfully completed six years of operations. Binance CEO Changpeng “CZ” Zhao shared the crypto exchange’s key events and challenges in an official statement, in which he also disclosed that Binance invested $3 million in Terra (now Terra Luna Classic) and never moved or sold LUNC holdings. Binance currently supports the Terra Luna Classic community with monthly LUNC burns and committing to the revival roadmap.

“we saw our initial $3M investment back in 2018 turn into $1.6bn at Terra’s 2021 peak, and then down to close to $0 in 2022. Until today, the LUNA (now LUNC) tokens we received still sit on the address we originally received them on, never moved and never sold.”

After the May 2022 Terra-LUNA crisis, the Binance team asked CEO “CZ” whether to sell the tokens, he said “no, let’s just hold.”

Terra Luna Classic Community Reacts to Binance CEO Statement

The community reacted positively to Binance still holding LUNC tokens, committing to the development and revival of the Terra Luna Classic chain. It has renewed the sentiment among members to revive LUNC and USTC to $1, taking inspiration from Binance CEO “CZ.”

Binance burned 2.65 billion LUNC tokens in the 11th batch of its burn mechanism. The crypto exchange has burned 35.58 billion LUNC in total, while the community has burned 69 billion LUNC.

Joint L1 Task Force (L1TF) and Quant developer teams are working with Binance and other exchanges to repeg USTC to $1, with the Quant team in direct discussion with Binance.

The community and developer groups to focus particularly on reducing LUNC and USTC circulating supply in Q3. L1TF has revealed its plan of action for Q3, with expert developers Edward Kim and Superman returning back to the chain.

#LuncBurn #Lunc #ustc

$LUNC $USTC

The LUNC community has approved the Terra Luna Classic v2.3.0 upgrade proposal through governance voting. This proposal, which has updated the Terrad client to v2.3.0., now includes a dynamic validator commission system. The community accepted the proposal favorably, and it has much to offer to the LUNC ecosystem.
The v2.3.0. introduces the dyncomm module. This module determines the minimum commission paid to validators using protocol logic based on their voting power. According to StakeBin, the proposal implementation is set for block 15493370, which is approximately 11:18:44 UTC on November 20.
With a 93% “Yes” vote and a 7% “Abstain” vote, the proposal has arguably gained unanimous support from the community. Out of the 60 participating validators, 58, including prominent validators like Allnodes, Interstellar Lounge, HappyCattyCrypto, Interstake One, and TerraCVita voted for the proposal.
What’s Next for Terra Classic (LUNC)
LUNC is currently trading at $0.000077, up 0.34% in 24 hours but down 8.47% in the past week. LUNC experienced a 45% surge a few days ago, thanks to a new measure from the community to control USTC minting.
This measure is another one in a long list of proposals aimed at restoring USTC, the stablecoin of the Terra Classic ecosystem, to its $1 peg and restoring LUNC to its status as a major player in the crypto market.
With this proposal, the community has halted the minting of new USTC tokens, and the surge that accompanied this proposal almost erased a zero from LUNC’s price. Despite the seven-day decline, LUNC is up by almost 40% in the past month.
Another notable measure taken to achieve this goal is the move to burn 50% of USTC trading fees on Binance, the world’s largest crypto Exchange. The hope is that other exchanges will follow Binance’s lead and burn USTC trading fees. However, it may take a little longer before we start seeing the effects of these proposals on LUNC’s price.
With all eyes on LUNC and the series of new proposals, many in the community are wondering if these measures will help LUNC surpass its all-time high. A notable machine learning algorithm from Coincodex recently weighed in on this issue.
CoinCodex is a widely recognized platform tracking over 28,000 cryptocurrencies across 420+ exchanges, and its AI prediction tool does not expect LUNC to reach its all-time high soon. However, it provides some bullish predictions for the cryptocurrency over the next few years.
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#TerraLunaClassic #LuncBurn $LUNC

The LUNC burn forecast is a prediction that the supply of LUNC tokens will be reduced by 99.99%. This would mean that there would only be 520 million LUNC tokens in circulation, compared to the current supply of over 6.5 trillion. If this were to happen, it is possible that $100 invested in LUNC could make you a millionaire in the long run.

However, several factors could prevent this from happening. First, the LUNC burn forecast is just that - a forecast. It is possible that the burn will not happen, or that it will not be as large as predicted. Second, even if the burn does happen, there is no guarantee that LUNC will reach $1 per token. The price of LUNC is volatile and could fluctuate wildly in the future.

Overall, it is possible that an investment of $100 in LUNC could make you a millionaire if the LUNC burn forecast happens and LUNC reaches $1 per token. However, there are several risks involved, and you should not invest more than you can afford to lose.

Here are some other things to consider when investing in LUNC:

The project is still in its early stages and has not yet proven itself.

There is a lot of competition in the DeFi space.

The Terra ecosystem was recently destabilised by the collapse of TerraUSD (UST).

If you are considering investing in LUNC, you should do your research and make sure you understand the risks involved.

#LUNC #LuncBurn #crypto #dyor

Post By: CryptosHeadlines.com
Binance Destroys 760 Million Terra Luna Classic (LUNC) Tokens in 15th Burn, Reaching a Total of 40 Billion Tokens Burned.Binance, the world’s largest crypto exchange, has completed its 15th round of burning Terra Luna Classic (LUNC) tokens, totaling 760 million tokens. This brings Binance’s total LUNC burn to nearly 40 billion tokens. Impressively, the community has also burned over 76 billion LUNC tokens. Traders are hopeful that this latest burn by Binance will lead to a significant price increase.
Binance Burns 760 Million Terra Luna Classic Tokens
On November 1, Binance sent 760.42 million Terra Luna Classic (LUNC) tokens to the burn address, supporting the community’s LUNC burn campaign to reduce the token’s circulating supply.
This action is part of the 15th batch of the LUNC burn, covering the period from September 30 to October 30, 2023. With this latest burn, Binance has now burned nearly 40 billion Terra Classic tokens in total, collected from trading fees on LUNC spot and margin trading pairs.
In the previous month, Binance burned 1.01 billion Terra Luna Classic (LUNC) tokens. However, the burn rate has been decreasing due to concerns (FUD), reduced developer activity, and a decline in LUNC trading volumes on the exchange.
Since taking over responsibility for the chain after the 2022 Terra-LUNA crisis, the Terra Luna Classic community has burned more than 76 billion LUNC tokens in total. While there were some concerns about the decrease in Binance’s LUNC burn contribution, most community members expressed gratitude to Binance and its CEO, CZ, for their continued support of the burn campaign.
In the meantime, the community is considering requesting that Binance also burn USTC tokens. It’s worth noting that Binance had reduced its burn contribution from 100% to 50% of LUNC spot and margin trading fees in the past year.
Terra Luna Classic Tokens Dip in Last 24 Hours
In the past 24 hours, Terra Luna Classic’s tokens, LUNC and USTC, saw significant drops after experiencing gains in the recent market recovery. A broader crypto market sell-off prompted investors to book profits, putting pressure on the prices of LUNC and USTC.
LUNC’s price fell by 5% during this period, and it’s currently trading at $0.000062. The price ranged between $0.0000616 and $0.0000657 in the last 24 hours.
Similarly, USTC’s price also experienced a 4% drop in the past 24 hours and is now trading at $0.011. Notably, the trading volume slightly increased during this timeframe.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#CryptoNews #Binance #LUNC #LuncBurn #TerraClassic