Terra Classic

Terra

Cap Finance

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/" rel="noopener noreferrer nofollow">Terra Classic (LUNC)</a> has increased by a tremendous 29.45%, according to <a href="https://coinmarketcap.com/currencies/terra-luna/" rel="noopener noreferrer 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" rel="noopener noreferrer 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">We have now officially burned <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley"> more than 100 billion <a href="https://twitter.com/hashtag/Lunc?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer 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/" rel="noopener noreferrer nofollow">LUNC’s Price Surges, Market Cap Hit $1 Billion: What’s Happening?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

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

Coin Edition

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