🟢 LUNC Buzz 🟢
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⬅️ Why did the price of LUNC rise?
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🔅Reasons and Scenarios:
💠 The Terra Classic (LUNC) coin increased by 75.89% in 24 hours, surpassing a price of $0.00005800, defying a broader decline in the cryptocurrency market (-3.64% of the market cap).
💠 The main factors for this significant rise:
🔸️Network upgrade and Binance support.
🔸️Binance temporarily suspended withdrawals to upgrade Terra to version 2.18, indicating institutional confidence.
🔸️Buzz around Do Kwon's ruling - anticipation before the court ruling on December 11 spurred speculative buying.
🔸️Increase in token burning - 849 million LUNC tokens were burned last week (volume +1996%), leading to a reduced supply.
💠 With this rise, there has been a significant buzz about the coin's price reaching $1 as an emotional reaction not based on logic or scientific analysis, as the story of LUNC reaching $1 is almost impossible since reaching this fantastical price requires a massive market cap and continued significant burning; in addition to sustained investor confidence.
$LUNC $1000LUNC
⛔️ Disclaimer and Waiver:
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🔺️Trading in general carries significant risks, so remember:
👈 Everything I publish or share is for informational or educational purposes only and is not investment advice or a recommendation to sell or buy.