Terra Luna Classic (LUNC) Community Expects Impressive Price Actions from the Altcoin in the Upcoming Sessions

The Terra Luna Classic (LUNC) community expects impressive price actions from the altcoin in the upcoming sessions.

The Terra Luna Classic (LUNC) community anticipates a substantial token burn from Binance, which will permanently remove a vast quantity of coins from circulation. This measure is part of the ongoing efforts to reduce the massive supply of LUNC.

The next #Binance $LUNC burn is in 5 days. 🔥

Burn the coins forever! 💎🤲🏻 #Crypto #LUNC #LunaClassic

The leading cryptocurrency exchange has already burned around 61 billion LUNC tokens this month, accounting for roughly 48.8% of the total tokens burned by the community.

In total, the Terra Classic community has burned around 124 billion tokens, with 53 billion being destroyed via on-chain burn and 71 billion being sent to a burn wallet.

Over the past seven days, nearly 7 billion tokens were burned as investors and whales moved LUNC out of CEXs, incurring fees of 8.34 billion LUNC.

Meanwhile, the total staked LUNC assets soared past 1 trillion, indicating strong support from the community and validators.

Stake your #LUNC 🔒

Over 1 Trillion #LUNC already staked 🔒 pic.twitter.com/OJAX8HKGg1

The staking ratio for Terra Luna Classic reached 14.83%.

Furthermore, the community reserve pool received a significant boost, with 6.22B LUNCH and 12.37M USTC being allocated to the pool. This provides the project and community with ample funds to support development activities.

Both LUNC and USTC prices exhibited minimal price movements over the past 24 hours, with both coins experiencing slight declines.

At press time, LUNC was trading at $0.00008069, having reached a daily high of $0.00008352 and a 24-hour low of $0.00008012. The altcoin experienced a 1.04% price decrease over the past day, with a 47% decline in trading volume, which amounted to $24,889,518.

USTC, on the other hand, saw a press time value of $0.01767, following a 1.20% decrease over the past 24 hours. It encountered a daily high of $0.01815 and a 24-hour low of $0.01759. The 24-hour trading volume for USTC also declined, albeit at a slower rate of 35%, to reach $10.59 million.

These burn events are typically met with increased trading volume, which could propel prices further. Should LUNC breach the $0.000090 level, it may indicate a continuation of price gains, potentially leading to a positive impact on USTC prices.

Ultimately, sustained price movements will depend on various factors, including chain efficiency and the broader market recovery, which are crucial for maintaining stable price actions in the upcoming periods.