{"id":355037,"date":"2022-11-02T08:04:35","date_gmt":"2022-11-02T12:04:35","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=355037"},"modified":"2022-11-02T08:04:35","modified_gmt":"2022-11-02T12:04:35","slug":"terra-luna-classic-price-forecast-lunc-4-higher-can-more-burns-ignite-restart-of-rally","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/terra-luna-classic-price-forecast-lunc-4-higher-can-more-burns-ignite-restart-of-rally","title":{"rendered":"Terra Luna Classic Price Forecast – LUNC 4% Higher, Can More Burns Ignite Restart of Rally?"},"content":{"rendered":"

Terra Luna Classic price forecast remains bearish as it has failed to reverse its early-day decline and is now trading around $0.00024. Even though the cryptocurrency market had begun to recover, the declines continued. However, the reason for its current downward rally could be attributed to the fact that the world’s largest cryptocurrency exchange, Binance, burned more than 1.26 billion Terra Classic (LUNC)<\/a> tokens, which is significantly less than Binance’s earlier October burn of 5 billion Terra Classic (LUNC) tokens. Binance has so far burned more than 13.5 billion LUNC tokens for the Terra Classic community.<\/p>\n

The US Federal Reserve, on the other hand, is expected to raise interest rates by 75 basis points this week, which will likely have a negative impact on the price of cryptocurrencies such as Terra Classic (LUNC) and others. In contrast, the recovering crypto market, which is supported by a number of factors, may provide some assistance to the LUNC coin in order to limit its further losses. Aside from that, investors focused on the LUNC cryptocurrency’s listings on Robinhood and Coinbase.<\/p>\n

Terra Luna Classic Price & Tokenomics<\/h2>\n

The current live Terra Classic price is $0.000242 with a 24-hour trading volume of $224 million. Terra Classic has dropped by more than 3% in the last 24 hours. Terra Classic has a live market cap of $1.5 billion and is now ranked #36 on the market. The total number of LUNC coins in circulation is 6,590,095,415,984.<\/p>\n

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Binance\u00a0<\/span><\/span>Burns\u00a0<\/span><\/span>Over\u00a0<\/span><\/span>13\u00a0<\/span><\/span>Billion\u00a0<\/span><\/span>Terra\u00a0<\/span><\/span>Classic\u00a0<\/span><\/span>(LUNC)\u00a0<\/span><\/span>Tokens\u00a0<\/span><\/span>Again<\/span><\/span><\/h2>\n

Binance, the world’s largest cryptocurrency exchange, has burned more than 1.26 billion Terra Classic (LUNC) tokens as part of its sixth round of burns to offset trading costs. The Binance burn mechanism is used by the LUNC spot and margin trading pairs, which involves sending all trading fees to the LUNC burn address in order to burn them. Furthermore, the transaction includes a fee of 2.51 million LUNC.<\/p>\n

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#Binance<\/a>\u00a0 burned another 1.2 billion #LUNC<\/a> for the #LUNCARMY<\/a>. If you appreciate CZ burning for us smash the like button! ??????? #Crypto<\/a> pic.twitter.com\/C5K8mKlxmH<\/a><\/p>\n

— Amanda $LUNC ? (@AmandaLunc) October 31, 2022<\/a><\/p><\/blockquote>\n