Terra Luna Classic Price Prediction – Can Bulls Pump LUNC 30% This Week?
Terra Luna Classic price prediction remains bullish above $0.00020, a triple bottom support level. LUNC has formed a descending triangle pattern, which usually indicates the possibility of a bearish breakout, but the leading technical and fundamental indicators point to a buying trend.
Binance has changed its Luna Classic (LUNC) burn process, announcing that after the fifth batch of trading fees on LUNC spot and margin trading pairs has been removed from circulation, the procedure will be performed monthly rather than weekly.
The most recent weekly burn on Binance burned 1.5 billion LUNC. The next significant LUNC supply reduction will now occur after December 1, 2022. Binance has burned 12.5 billion Luna Classic tokens, reducing their supply and permanently removing them from circulation.
Before the burn, trading commissions collected in Binance USD (BUSD), Tether USD (USDT), and Binance Coin (BNB) are converted to LUNC at the current exchange rate.
LUNC is used by nearly 40 decentralized apps (dApps), and the number is growing. Furthermore, the LUNC/USD could soon soar after the world's largest volume exchange revealed a higher frequency of LUNC burn.
To increase the asset's utility, the LUNC community has implemented network improvements. Proposal 5234, which was recently approved by the community, is one recent example. The LUNC burning tax should be reduced from 1.2% to 0.2%.
The LUNC/USD pair increased by nearly 500% early in September, re-entering the top 50 cryptocurrencies. After hearing that Binance would burn LUNC, investors were upbeat; social media was flooded with comments about the "biggest comeback" and hope.
The community has reduced the burning tax from 1.2% to 0.2%, putting LUNC's survival in jeopardy. The
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