Binance Propels LUNC: 60% Increase Following Major Announcement!
Binance has once again acted as a catalyst for the surge of a cryptocurrency, this time Terra Classic (LUNC). The crypto asset experienced an increase of over 60% following an announcement by the exchange.
Binance announces new trading pairs for LUNC
The world’s largest cryptocurrency exchange has announced that it will launch new trading pairs for highly sought-after digital assets. Among them are Terra Classic (LUNC), TerraClassicUSD (USTC), dYdX, and Blur. Binance officially stated that it would open trading for the LUNC/TRY pair on December 5 at 8:00 AM (UTC).
Binance burned 3,903,522,969.89 LUNC tokens on December 1. This represents the trading fees from spot and margin LUNC pairs between October 31 and November 29, totaling 362,617.17 USDT.
The destruction of tokens reduces the total supply of the cryptocurrency in circulation. This has contributed to a significant increase in the value of LUNC on Binance.
Terra Classic has been rising since the exchange’s announcement
The price of Terra Classic immediately showed an increase following Binance’s announcement. In the last 24 hours, the original token of the Terra Chain ecosystem has seen its value jump by nearly 65%. It also rose by 110% over the past seven days. Once again, Binance is the catalyst for the notable increase of a digital asset, as well as being a leading player in the industry.
Furthermore, the market capitalization of Terra Classic has also skyrocketed to $1.4 billion. Thus, LUNC is now the 43rd most significant cryptocurrency in terms of market capitalization. Its trading volume over 24 hours has increased by 152% to reach $1.23 billion.
In light of the crypto’s increase since the beginning of December, the Luna Classic Community advises investors not to forget to take profits. “don’t forget to take some profits as we have pumped a lot these days… FOMO as well comes into play it doesn’t mean we stay at these prices…”.
Currently, LUNC is trading at 0.00024500 USDT on Binance.
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Je suis passionnée par les cryptomonnaies, un monde que j'ai découvert il y a peine 3 ans. Mon seul but est de vous informer de cet univers incroyable à travers mes articles.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.