Coin Edition -
- Terra Classic Community burns 210 million LUNC tokens to boost demand.
- Throughout the last day, the price of LUNC has ranged from $0.0001625 to $0.0001712.
- Indicators reveal that the market is approaching oversold territory.
In an effort to reduce the global token supply, the Terra Classic Community burned 210 million LUNC tokens in January. Token burns will increase the token’s scarcity, driving up the token’s value and the currency’s market capitalization. Despite this, the bears have gained power in the previous 24 hours, lowering the price to $0.0001625, where the market found support. As of press time, LUNC price had dropped by 3.01% to $0.0001663.
While the market value decreased by 2.70% to $992,659,257 as a result of the decline, the volume of 24-hour trading climbed by 15.64% to $95,213,509. Increased demand for the token will act as a driving factor to enhance its price, thus an upturn in the coming hours is not totally out of the question as a consequence of this spike.
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