Terra Classic

Terra

<ul> 
 <li>Terra Luna Classic (LUNC) has surged by 12%, from $0.00005667 to $0.00006372.</li> 
 <li>LUNC’s new proposal, 11785, calls for Binance to burn 50% of USTC monthly.</li> 
</ul> 
While major cryptocurrencies, including Bitcoin, grapple with a downtrend in the market, the low-cap altcoin Terra Luna Classic (LUNC) has jumped to life with a significant breakout of a descending channel pattern. The cryptocurrency has <a href="https://thenewscrypto.com/crypto-news-binance-to-support-terra-luna-network-upgrade-lunc-and-ustc-reacts/" target="_blank" rel="noreferrer noopener">gained</a> nearly 12% (from $0.00005667 to $0.00006372) in intraday trading, and this unexpected surge has propelled LUNC to the top of the gainers’ list. 
LUNC has been on the radar of both crypto enthusiasts and investors. But its recent price collapse has left many scratching their heads. Since mid-August, this altcoin has been trapped in a pronounced downtrend, along with the global crypto market.&nbsp; 
According to the data from CoinMarketCap, LUNC is currently trading at $0.00006216, marking a substantial 9.48% rally in the past 24 hours. Over the past week, it has witnessed a surge of 7.5%. 
Notably, LUNC has already touched the 50-day moving average (MA), signaling a positive shift. Now, the focus is on <a href="https://thenewscrypto.com/binance-news-crypto-exchange-binance-burns-2-65-billion-terra-classic-lunc/" target="_blank" rel="noreferrer noopener">breaking</a> above the 200-day MA, which could indicate further bullish momentum. Maintaining a position above these moving averages would be a favorable sign for Terra Luna Classic. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
 <img decoding="async" width="1024" height="523" src="https://thenewscrypto.com/wp-content/uploads/2023/09/LUNC-1024x523.png" alt="" class="wp-image-82780" srcset="https://thenewscrypto.com/wp-content/uploads/2023/09/LUNC-1024x523.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/09/LUNC-300x153.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/09/LUNC-768x392.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/09/LUNC-150x77.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/09/LUNC.png 1301w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Terra Classic (LUNC) Price Chart (Source: <a href="https://in.tradingview.com/symbols/LUNCUSDT/?exchange=BINANCE" target="_blank" rel="noreferrer noopener nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div> 
If the upward trend persists, LUNC has the potential to drive the price to $0.00008138, $0.00011247, and even reach as high as $0.00018537. However, if the cryptocurrency fails to sustain its position above $0.00006, this could expose it to the risk of a decline. Possibly landing at the support level of $0.00005103 and further to $0.00003637. 
<h2 class="wp-block-heading" id="h-lunc-s-new-proposal">LUNC’s New Proposal</h2> 
In addition to its technical prospects, a new <a href="https://twitter.com/TerraValidators/status/1703387986954690716?s=20" target="_blank" rel="noreferrer noopener">proposal</a> numbered 11785 has been put forth. That urges Binance to burn 50% of USTC (presumably a reference to a stablecoin) monthly, alongside the current 50% LUNC burn. After implementation, this proposal could potentially accelerate the burn rate and positively impact LUNC’s price. 
Recommended for you&nbsp; 
<a href="https://thenewscrypto.com/terra-luna-price-prediction" target="_blank" rel="noreferrer noopener">Terra Classic (LUNC) Price Prediction 2023</a>

Terra Luna Classic (LUNC) as Top Gainer Amidst Crypto Market Slump

Table of Contents

TheNewsCrypto

Other articles published on Sep 22, 2023

Ethereum's 0.15% Price Increase to $1,597.71: Key Insights for September 22, 2023

PayPal co-founder David Marcus wants to transform Bitcoin into a global payment network

Bitcoin miners face a revenue dip as the hash rate skyrockets

Tether Calls Out WSJ For Scrutiny Amid Challenges In Banking Industry

Ripple CEO’s Photo Outside SEC Building Went Viral in Few Hours

Mastercard Stock: MA Stock Reversing Down From 52-Week High?

Join our free newsletter for daily crypto updates!