Terra Classic ecosystem token LUNC has experienced a price increase of almost 65% in the last 24 hours. LUNC had already given up some of its intraday gains. It has risen only 26.54% in the last 24 hours to $0.0002388 at the time of writing.
The token has also increased by 110% in the last seven days. Best crypto exchange Binance The announcement of a new list by appears to be the catalyst for this increase.
In an official announcement, Binance stated that it will open trading of the LUNC/TRY spot trading pair at 8:00 UTC on December 5. Following the announcement, the price of LUNC rose from $0.00019 to $0.000279 in a short time.
LUNC’s market capitalization also climbed significantly, reaching $1.4 billion. It is currently the 43rd largest cryptocurrency by market cap. LUNC’s 24-hour trading volume also increased by 152%, reaching $1.23 billion. This showed strong interest and activity among traders.
altcoin It has been on a huge rise since the beginning of December. This rise coincides with the emergence of a golden cross on the daily price charts. LUNC has recorded strong price gains for two consecutive days since December 3. The token is also poised to enter its fourth day of earnings since December 1 after Binance announced the burning of nearly four billion LUNC tokens.
On December 1, Binance burned 3,903,522,969.89 LUNC tokens, representing trading fees on LUNC spot and margin trading pairs between October 31 and November 29. This corresponds to a total of 362,617.17 USDT.
The positive sentiment has spread to other tokens in the Terra and Terra Classic ecosystems. Terra (LUNA) and Terra Classic USD (USTC) saw major price increases in the previous 24 hours. Terra Classic USD, formerly UST, surged more than 300% last week when Binance launched a new USTC perpetual contract listing.