Amidst all those ups and downs of the crypto industry, few tokens are receiving good responses. Terra Luna Classic has been experiencing good news, which has led to the currency’s gain of over 19% over the course of a month.
The current live Terra Classic value is $0.000311 $ with such a $578,310,243 USD 24-hour trading volume. The LUNC to USD pricing is constantly updated. However, the 0.7% drop over the past 24 hours shows that the data does not seem to be in favor of the bulls.
Terra Classic Price – The LUNC rally has fizzled
LUNC has dropped by less than 1% during the last day. The present downturn has refuted the thesis of a bull market that persisted for most of the month. The LUNC price trend increased when it was revealed that a LUNC burn had been approved on the Binance exchange.
As short-term traders collect their gains, it appears like the trend for LUNC is about to reverse. LUNC’s price at the time of writing was $0.000317. If the bears completely take over the market, LUNC might go as low as $0.00026.
There is still significant purchasing support for LUNC, according to the Relative Strength Index (RSI), which is now reading 57. The MACD, which is likewise barely above the signal line, shows that A has the greatest trend. However, given LUNC’s performance the day before, there’s a possibility that the trend may reverse and the coin will hit lower lows.
What if Coinbase Listing Rumors are True?
Positive LUNC-related changes, even if technical indications indicate that the trend may change as bulls and bears compete for control, positive developments in LUNC may tip the price in the direction of a significant bullish trend.
The cryptocurrency community has been discussing the potential of LUNC registering on the Coinbase system. Coinbase is one of the most popular social trading platforms for cryptocurrencies in the US. Significant earnings are generated for cryptocurrencies listed on well-known exchanges like Coinbase.
One Twitter user speculated that Coinbase would list LUNC after learning that the exchange had purchased the cryptocurrency for $245 million. The Twitter user believed that if a listing like that did exist, it would appear within a week.
NEWS/RUMORS (not 100%) ON #LUNC: 1 – @Coinbase
has just authorized the purchase of 245 million dollars in $LUNC. If this is true, it may indicate that #LUNC can be listed in about a week. 2 – @gate_io
has stated that they may support #LUNCBURN very SOON. Follow for updates pic.twitter.com/VyAdtw7MZk
— LUNC BURN 🗣️🗣️ (@nergizy32132110) October 3, 2022
The 1.2% burn speed might be accelerated by LUNC’s Coinbase listing. The tax burn has already been applied by Binance, the largest exchange in the world based on trade volume. Binance reported yesterday that 5.5 billion LUNC coins, worth $1.9 million, have been removed from circulation since the tax burn began.
Additionally, there are rumors that the Gate.io platform may shortly begin the LUNC coin burn, significantly decreasing the supply. It is crucial to remember that the supply has not changed noticeably because the LUNC coin burn began. There are presently 6.8 trillion LUNC tokens in circulation.
Considering the present burn rate, one cryptocurrency Twitter user predicted that it might require 15 years for the supply of LUNC to fall to 10 billion. Following the demise of a TerraUSD stablecoin in May, the supply of LUNC significantly expanded, resulting in the creation of billions of additional LUNC tokens.
If somehow the Coinbase list is accurate, LUNC may be a solid investment, although one may want to diversify their holdings by adding other tokens, like IMPT. A new coin called IMPT targets investors that care about ESG. A green cryptocurrency called IMPT aims to reduce the high energy requirements of existing blockchains. Investors find cryptocurrency attractive due to its distinctive offering.
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