Binance CEO Changpeng Zhao made a statement regarding LUNC holdings. This renewed the altcoin project’s community sentiment to raise LUNC and USTC to $1.
Binance CEO: We didn’t move or sell LUNC!
Binance, the world’s largest crypto exchange, has successfully completed six years of operations. Binance CEO Changpeng Zhao (CZ) shared the key events and challenges of the crypto exchange in an official statement. Accordingly, Binance announced that it has invested $3 million in Terra (now Terra Luna Classic). It also stated that it never moves or sells LUNC assets. Binance is currently supporting the Terra Luna Classic community with a commitment to the monthly LUNC burn and revival roadmap. In this context, CZ made the following statement:
We saw our initial $3 million investment in 2018 turn into $1.6 billion at Terra’s 2021 peak and then drop to $0 in 2022. To date, the LUNA (now LUNC) tokens we received are still at the address we originally received. Never moved and never sold.
After the May 2022 Terra-LUNA crisis, the Binance team asked CZ if he would sell the tokens. Changpeng Zhao said, “No, let’s just keep it.”
Altcoin community reacts to Binance CEO’s statement
The Terra Luna Classic community reacted positively to Binance still holding LUNC tokens. cryptocoin.comAs you follow, the crypto exchange has committed to the development and revitalization of Terra Blockchain. Inspiration from the Binance CEO has renewed the sentiment among members to raise LUNC and USTC for $1.
Binance burned 2.65 billion LUNC tokens in the 11th batch of the burn mechanism. While the crypto exchange burned 35.58 billion LUNC in total, the community burned 69 billion LUNC. The joint L1 Task Force (L1TF) and Quant developer teams are working with Binance and other exchanges to re-regulate USTC to $1. Also, the Quant team is in direct talks with Binance.
Community and developer groups, especially LUNC and USTC, will focus on reducing circulating supply in the third quarter. L1TF has revealed its action plan for Q3, with expert developers Edward Kim and Superman returning to Blockchain.
Altcoin price seems to exceed $0.000090!
LUNC price is down over 1% in the last 24 hours. Altcoin price is currently trading at $0.000086. It evened out previous wins. However, it failed to surpass the $0.000090 level. However, the ensemble is planning a ‘short squeeze’. The 24-hour lows and highs are $0.0000836 and $0.0000891, respectively. Meanwhile, the low trading volume indicates a lack of interest among traders.
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