Binance seems to have finally opened the floodgates for an altcoin project that wants to get rid of zero prices to reach the old ATH level.
Binance removes warning signs for notorious altcoin
Terra Classic (LUNC) and TerraClassicUSD (USTC) are on the rise as Binance has removed the ‘warning label’ it has applied on its platforms like Coinmarketcap. The exchange had put up warning labels after Terra’s collapse and Do Kwon’s problems with South Korean officials.
The warning sticker was driving investors away from Terra for fear they could lose their funds or positions as a result of the negative sentiment surrounding the project and the token. cryptocoin.com As we mentioned, Binance first issued its warning notice at the beginning of 2021, when Terra LUNA and UST collapsed.
The latest warnings come after a South Korean court issued an arrest warrant for one of Terra’s co-founders, Daniel Shin. In addition to this, Terra’s founder and core developer Do Kwon has filed a criminal complaint by the Korean authorities. This has led to many centralized exchanges stopping deposits and withdrawals for altcoins, with Binance being the first to do so.
Price increase started
Classy Crypto, a phenomenon known to LUNC investors, highlighted the price movements of both cryptos, noting the promising development today. “WARNING LUNC and USTC ARE RUN after Binance’s warning labels have been removed from its platform,” Classy said. As the charts in the tweet show, LUNC price is up over 5%, while TerraClassicUSD (USTC) is up over 15% to $0.02565.
Another analyst, the famous LUNC validator “LUNC DAO”, was the first to launch a campaign to get rid of the warning labels. The LUNC loyalist has tweeted multiple times to Binance and Binance CEO CZ to draw attention to the situation. As of this morning, Binance has finally responded to LUNC’s community request.
There are 5x pending altcoin analysts
With the latest development, the Terra Classic (LUNC) price is expected to witness a massive spike as new investors flock to the cryptocurrency. Also, as Binance is currently one of the largest crypto exchanges responsible for driving LUNA’s trading volume, removing the warning indicators could lead to increased investor interest and subsequent purchases. While it won’t happen overnight and will take some time, LUNC’s price could skyrocket from 2x to 5x its current value as a result of Binance opening the doors for cryptocurrency.
Finally, the Terra (LUNA) price also rose to $2.00 today and dropped as much as 10% at one point yesterday. Although its current level has increased by 58% over the past 30 days, it represents an 11% drop in one week, making LUNA one of the best performing cryptocurrencies among the top 100 cryptocurrencies by market cap.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.