Terra Classic

TerraClassicUSD

Terra Luna Classic (LUNC) has experienced a notable resurgence recently, with its price surging by 25% over the past few days. Several key factors have contributed to this rally.Cryptos Headlines Token Airdrop Is Live, Claim 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Cryptos-Headlines-Token-Airdrop-Is-Live-Claim-Your-Reward-Now-1.png?fit&#61;900%2C200&amp;ssl&#61;1" />Terra Luna Classic’s (LUNC) recent price surge is driven by several key factors. Firstly, the <a href="https://cryptosheadlines.com/binance-burns-1-41b-lunc-tokens/" rel="noopener noreferrer nofollow">burning of LUNC tokens on Binance</a> has given a significant boost to its upward momentum. Additionally, breaking above the downslope trendline with high trading volumes has fueled optimism. Moreover, more traders are taking long positions on LUNC, indicating <a href="https://cryptosheadlines.com/render-token-surges-as-bullish-sentiment-dominates/" rel="noopener noreferrer nofollow">bullish sentiment</a>. Lastly, the amount of <a href="https://cryptosheadlines.com/floki-inu-staking-surpasses-54-million-outshining-doge-shib-pepe/" rel="noopener noreferrer nofollow">staked LUNC has surpassed</a> 1 trillion, showing increased confidence. Overall, the rally reflects the community’s strength and resilience, despite challenges, with holders remaining bullish <a href="https://cryptosheadlines.com/jpmorgan-analysts-foresee-stable-crypto-market-amid-downturns/" rel="noopener noreferrer nofollow">amid the crypto market’s</a> recovery.<h3 id="terra-luna-classic-lunc-price-surges-25-in-february">Terra Luna Classic (LUNC) Price Surges 25% in February</h3><a href="https://cryptosheadlines.com/lunc-price-surges-by-40-as-terra-luna-classic-l1tf-collaborates-with-ustc-repeg/" rel="noopener noreferrer nofollow">Terra Luna Classic’s</a> (LUNC) price has experienced a remarkable rally of 25% this February, marking a significant turnaround from the end of January. Today, LUNC reached a high of $0.0001225, with the bulk of the gains realized over the course of this week as the <a href="https://cryptosheadlines.com/lunc-community-discusses-800m-ustc-reduction/" rel="noopener noreferrer nofollow">community engages in critical discussions</a>.One of the primary drivers behind this price surge is the recent Binance LUNC burn. In its 18th batch, the world’s largest crypto exchange, Binance, burnt a staggering 2.1 billion Terra Luna Classic (LUNC) tokens as part of its ongoing commitment to LUNC burns. This brings the total number of LUNC tokens burnt by Binance to over 50 billion, accounting for 52.1% of the net LUNC burnt by the Terra Luna Classic community.Interestingly, the <a href="https://cryptosheadlines.com/terra-luna-classic-community-nears-800-million-ustc-burn/" rel="noopener noreferrer nofollow">Terra Luna Classic community’s total burn is nearing</a> the 100 billion mark, currently standing at almost 98.5 billion LUNC tokens. This significant milestone underscores the community’s commitment to <a href="https://cryptosheadlines.com/baby-doge-coin-ignites-investor-excitement-with-massive-token-burn/" rel="noopener noreferrer nofollow">token burning and its impact on the coin’s</a> supply dynamics.<a href="https://cryptosheadlines.com/abu-dhabi-collaborates-with-solana-foundation-for-dlt-development/" rel="noopener noreferrer nofollow">Also Read: Abu Dhabi Collaborates with Solana Foundation for DLT Development</a><h3 id="terra-luna-classic-lunc-prepares-for-higher-rally">Terra Luna Classic (LUNC) Prepares for Higher Rally</h3>The altcoin’s upward trajectory gained validation as it successfully flipped the support level of $0.0001, indicating its potential for a higher rally. Intraday trading volume for the LUNC coin surged by over 1000%, further bolstering confidence in its bullish outlook. Market analysis suggests that Terra Luna Classic is currently in a consolidation phase, experiencing a squeeze before an anticipated breakout towards $0.0002.Cryptos Headlines Token Airdrop Is Live, Claim 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Blue-Modern-Profile-Twitter-Header.png?fit&#61;1500%2C500&amp;ssl&#61;1" />Proposals passed by the <a href="https://cryptosheadlines.com/terra-luna-classic-community-approves-v2-2-1-core-upgrade/" rel="noopener noreferrer nofollow">Terra Luna Classic community</a> have played a significant role in the recent surge in LUNC’s price. One such proposal, numbered 12033 and titled “Compulsory KYC for all L1 developers,” was narrowly approved by the community with an impressive voter turnout of 90.5%. The proposal seeks to implement Know Your Customer (KYC) procedures for all L1 developers, aiming to mitigate short selling of <a href="https://cryptosheadlines.com/terra-luna-classic-security-upgrade-proposal-setback/" rel="noopener noreferrer nofollow">Terra Luna Classic and enhance the chain’s security</a> and safety.Additionally, the community endorsed Genuine Labs, a new <a href="https://cryptosheadlines.com/terras-website-hacked-developers-issue-warning/" rel="noopener noreferrer nofollow">developer group tasked with addressing chain-related issues</a>. Furthermore, a spending proposal for developers who successfully completed all developments was also approved, indicating a commitment to rewarding contributors for their efforts.<h3 id="lunc-shorts-liquidated-as-demand-surges">LUNC Shorts Liquidated as Demand Surges</h3>The Terra Luna Classic (LUNC) market has witnessed a notable uptick in short liquidations this week, signaling a shift in <a href="https://cryptosheadlines.com/bitcoin-witnessing-third-week-of-outflows-suggesting-negative-market-sentiment/" rel="noopener noreferrer nofollow">market sentiment</a>. The increase in trading activity aligns with an overall <a href="https://cryptosheadlines.com/bitcoins-resilience-shines-as-it-holds-ground-reclaiming-27k-strengthens-bullish-outlook/" rel="noopener noreferrer nofollow">bullish outlook</a>, with investors and traders anticipating a robust recovery following the recent market correction.After experiencing a decline in total LUNC staked, dropping to nearly 950 billion in December and January, there has been a resurgence in LUNC <a href="https://cryptosheadlines.com/arbitrum-dao-greenlights-proposal-for-token-staking-activation/" rel="noopener noreferrer nofollow">staking activities</a>. The staked supply has rebounded and currently stands at over 1.027 trillion LUNC, marking a continuous rise throughout the week. The staking ratio has achieved a significant milestone, reaching 15.09%.<a href="https://cryptosheadlines.com/jupiter-airdrop-yields-traders-over-1-million-profit-whats-next-for-jup/" rel="noopener noreferrer nofollow">Also Read: Jupiter Airdrop Yields Traders Over $1 Million Profit: What&#39;s Next for JUP?</a>LUNC staking plays a pivotal role for <a href="https://cryptosheadlines.com/terra-luna-classic-validator-plans-token-burn-price-rally-expected/" rel="noopener noreferrer nofollow">validators and the Terra Luna Classic</a> project. This essential process involves <a href="https://cryptosheadlines.com/binance-us-user-assets-secure-operations-continue-despite-sec-tro/" rel="noopener noreferrer nofollow">users locking their assets</a> with a validator to earn rewards, contributing to the overall stability and growth of the ecosystem.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.

Why Terra Luna Classic (LUNC) Price Is Going Up: 5 Key Factors

Table of Contents

CryptosHeadlines.com

Other articles published on Feb 10, 2024

Analyst Known for His Accurate Polygon Calls Says New Viral Coin Threatens Matic’s Dominance in 2024

New York demands $3 billion from DCG amid expanded lawsuit

Blockchain-based ride apps predicted to become a game-changer

Ripple Is Not Dead: Why You Should Continue Holding XRP Despite Its Free Fall Against Bitcoin

Solana Surpasses $100: Are Altcoin Bulls Ready for Rally?

UNUS SED LEO (LEO) & Cosmos (ATOM) holders move into revolutionary DeeStream (DST) presale as 30X...

Join our free newsletter for daily crypto updates!