Terra Classic As anticipation builds in the community, all eyes are on Binance’s upcoming LUNC burn event. Following high trading volume and a significant decrease in circulating supply, the community is optimistic about the burning event.
Binance To date, it has burned approximately 60.42 billion LUNC, accounting for 48.8% of the total LUNC burned by the community. This coordinated action aims to increase the long-term value of LUNC by reducing the total supply of LUNC.
The total LUNC burned by the community reached approximately 124 billion, with 71 billion sent directly to the burn wallet and 53 billion obtained through on-chain burns. In the past week alone, approximately 7 billion LUNC was burned and 8.34 billion LUNC was accrued in fees as whales and investors transferred LUNC from centralized exchanges.
Strategic Share and Support from Society
The Terra Luna Classic community has shown strong support by staking over 1 trillion LUNC. This increased staking activity has increased the staking rate to 14.83%, underscoring the trust and loyalty of the community. In addition, the community pool reserve has benefited significantly with 6.22 billion LUNC and 12.37 million USTC, creating a solid financial foundation for continued development efforts.
LUNC and USTC Price Trends
Despite the positive momentum in burning activities, LUNC and USTC prices have remained relatively stable in recent trading sessions. Terra Classic price followed a horizontal trend in the last 24 hours, hovering around $0.00008137. While the price hit a 24-hour low of $0.000081 and a high of $0.000083, trading volumes contracted by 53%, reflecting declining trading interest.
The upcoming burn could cause an increase in trading volumes and potentially push LUNC prices higher. Analysts suggest that a break above $0.000090 would confirm more bullish moves. At the same time, USTC experienced a small decline of 0.62% and trading volumes fell by 40%. The 24-hour trading range for USTC was between $0.01758 and $0.01815, indicating moderate market activity.
In summary, altcoin The community is poised for significant activity in the coming weeks, with major burns and staking milestones providing a foundation for potential price growth.
The Binance burn mechanism, combined with community support and strategic staking, can act as a catalyst for future growth. Investors and community members will follow these developments closely, expecting a positive change in LUNC and USTC prices. The outlook suggests a mix of cautious optimism and strategic positioning within the Terra Classic ecosystem.
