Rally

Burn

Terra Classic

Terra

Trillion

Terra Luna Classic community looks for a massive LUNC burn in the next week by <a href="https://coingape.com/blog/binance-exchange-review/" target="_blank" rel="noopener">crypto exchange Binance</a> as part of its LUNC burn mechanism. LUNC saw its total supply drop to 6.78 trillion after the enormous trading volumes and burn recently. 
Delegators have also staked significantly with Terra Luna Classic validators, bringing the total LUNC staked to over 1 trillion. 
<h2 id="terra-luna-classic-community-eyes-massive-burn">Terra Luna Classic Community Eyes Massive Burn</h2> 
Terra Luna Classic community awaits <a href="https://coingape.com/breaking-binance-burns-1-35-billion-terra-luna-classic-total-burn-hits-60-billion/" target="_blank" rel="noopener">Binance LUNC burn</a> mechanism to provide the necessary push to reduce LUNC tokens supply. Massive trading volumes this month sparked speculation of a higher amount of LUNC burn by Binance. The crypto exchange has burned nearly 60.42 billion LUNC, accounting for 48.8% of the total LUNC burned by the community. 
The community has burned nearly 124 billion LUNC until now, with 71 billion by sending to burn wallet and 53 billion through on-chain burn. 
In the last 7 days, almost 7 billion <a href="https://coingape.com/why-terra-luna-classic-lunc-ustc-prices-crashed-amid-massive-6-5-bln-lunc-burn/" target="_blank" rel="noopener">LUNC burn</a> came from as whales and investors moved LUNC from centralized crypto exchanges. Total fees accrued from these transactions were 8.34 billion LUNC. 
Total LUNC staked has skyrocketed to above 1 trillion, providing enough support from validators and the community. The staking ratio has increased to 14.83%. Moreover, the community pool reserve saw the required boost, with 6.22 billion LUNC and 12.37 million USTC. It gives the community enough funds for development activity. 
<img decoding="async" class="aligncenter wp-image-204537" src="https://coingape.com/wp-content/uploads/2024/06/screenshot-terraclassic.stakebin.io-2024.06.26-21_32_15.jpg" alt="LUNC staked" width="766" height="482" srcset="https://coingape.com/wp-content/uploads/2024/06/screenshot-terraclassic.stakebin.io-2024.06.26-21_32_15.jpg 1000w, https://coingape.com/wp-content/uploads/2024/06/screenshot-terraclassic.stakebin.io-2024.06.26-21_32_15-300x189.jpg 300w, https://coingape.com/wp-content/uploads/2024/06/screenshot-terraclassic.stakebin.io-2024.06.26-21_32_15-768x483.jpg 768w, https://coingape.com/wp-content/uploads/2024/06/screenshot-terraclassic.stakebin.io-2024.06.26-21_32_15-150x94.jpg 150w" sizes="(max-width: 766px) 100vw, 766px"> 
Also Read: <a title="Custodia Bank CEO Predicts “Rip Roaring” Bitcoin Bull Market, Slams Warren Wing" href="https://coingape.com/custodia-bank-ceo-predicts-rip-roaring-bitcoin-bull-market-slams-warren-wing/" target="_blank" rel="bookmark noopener">Custodia Bank CEO Predicts “Rip Roaring” Bitcoin Bull Market, Slams Warren Wing</a> 
<h2 id="lunc-and-ustc-price-performance">LUNC and USTC Price Performance</h2> 
The Terra Luna Classic community has not yet accounted LUNC and USTC burn from Terraform Labs and Luna Foundation Guard wallets. <a href="https://coingape.com/terraform-labs-ceo-chris-amani-confirms-huge-ustc-lunc-burn/" target="_blank" rel="noopener">Terraform Labs</a> CEO Chris Amani confirmed to the Terra Classic community that LUNC and USTC in the TFL and LFG wallets will be burned. 
The community will also implement <a href="https://coingape.com/terra-luna-classic-community-passes-major-tax2gas-proposal-lunc-price-to-1/" target="_blank" rel="noopener">Tax2Gas</a> with the potential to increase LUNC burn massively in the coming months. It is expected to be completed by July. 
<a href="https://coingape.com/price/terra-luna-classic/" target="_blank" rel="noopener">Terra Classic price</a> trading mostly sideways in the last 24 hours, with the price currently trading at $0.00008137. The&nbsp;24-hour low and high are $0.000081 and $0.000083, respectively. Moreover, trading volume has decreased by 53% in the last 24 hours, indicating a lack of interest among traders. 
The burn events are going to bring enough trading volumes and upside price action, with a breakout above $0.000090 confirming further uprise move. 
Meanwhile,&nbsp;<a href="https://coingape.com/price/terraclassicusd" target="_blank" rel="noopener">USTC price</a> also fell over 0.62% as trading volumes dipped by 40% in the last 24 hours. The 24-hour low and high are $0.01758 and 0.01815, respectively. 
Also Read: <a title="Just-In: Binance To Delist Shiba Inu, Chainlink, Memecoin, &amp; 4 Other Crypto, Prices To Dip?" href="https://coingape.com/binance-delists-these-pairs-for-shiba-inu-chainlink-memecoin-4-other-crypto/" target="_blank" rel="bookmark noopener">Binance To Delist Shiba Inu, Chainlink, Memecoin, &amp; 4 Other Crypto, Prices To Dip?</a> 
The post <a href="https://coingape.com/lunc-price-to-rally-amid-massive-binance-burn-as-over-1-trillion-lunc-staked/">LUNC Price To Rally Amid Massive Binance Burn As Over 1 Trillion LUNC Staked</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

LUNC Price To Rally Amid Massive Binance Burn As Over 1 Trillion LUNC Staked

Table of Contents

Coingape News Media

Other articles published on Jun 26, 2024

Analis Popular: Bitcoin Akan Melejit ke US$70.000 dalam Waktu Dekat

Pompliano’s Vision: AI and Bitcoin Leading the Future of Wealth

Donald Trump and Bitcoin Mining Surge: 3 Cryptos Set for Massive Gains Following Trump Advocacy

TRX Coin Surges Despite Market Lows

XRP Supply on Exchanges Drops To Months Low; Price To Hit Rock Bottom?

MoonBag Crypto Set to Revolutionise the World of Crypto with 15000% ROI; Binance & Avalanche Cont...

Join our free newsletter for daily crypto updates!