Terra Classic

Terra

Coin

<ul class="news-points"> 
 <li>LUNC’s price increased and its market cap surpassed the $1 billion market.</li> 
 <li>Bulls continued to dictate the momentum with the Fibonacci extension, suggesting a climb to $0.000016.</li> 
 <li>The 20 EMA flipped the 50 EMA on the daily chart, reinforcing the price increase potential.</li> 
</ul> 
In the last 24 hours, the price of <a href="https://coinedition.com/lunc-price-jumps-following-governance-upgrade-to-clean-up-ecosystem/">Terra Classic (LUNC)</a> has increased by a tremendous 29.45%, according to <a href="https://coinmarketcap.com/currencies/terra-luna/" target="_blank" rel="nofollow">CoinMarketCap</a> data. The price increase also affected its market cap which rose above the $1 billion mark.&nbsp; 
LUNC’s price increase came amid growing bullish sentiment in the market. However, there was another catalyst that pushed LUNC’s price higher which was the Binance burn. On March 1, Binance <a href="https://finder.terraclassic.community/classic/tx/EBBB5426E0B230B6A43AFDE97BB423388F7379E1F18F03231A5BDA3D8B90BA62" target="_blank" rel="nofollow">burned</a> 2.21 billion LUNC tokens. 
The idea behind the burning is to make the token scarce while boosting the value if demand increases. Furthermore, ‘Vegas’, a prominent member of the Terra community revealed that the number of tokens burned in total has crossed 100 billion. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 We have now officially burned <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> more than 100 billion <a href="https://twitter.com/hashtag/Lunc?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Lunc</a>.. thanks to everyone who is actively working to do this. The burns now are coming from ever…
 </blockquote>
 </div>
</figure>
The post <a href="https://coinedition.com/luncs-price-surges-market-cap-hit-1-billion-whats-happening/">LUNC’s Price Surges, Market Cap Hit $1 Billion: What’s Happening?</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

LUNC’s Price Surges, Market Cap Hit $1 Billion: What’s Happening?

Coin Edition

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