Terra Luna Classic (LUNC) has seen an impressive surge – its price climbed to $0.00006430, the highest level since late March. From this year’s low, it has jumped by nearly 40% – and the bullish momentum doesn’t seem to be slowing down.
🚀 Token Burn Accelerates
The key driver behind this rise is the accelerated token burn rate. According to LUNC Metrics, over 205 million tokens were burned in the last 7 days. Since May 2022, a total of 408.2 billion LUNC tokens have been destroyed, bringing the circulating supply down to 5.45 trillion.
💡 If the current pace continues, the total burned tokens may surpass 410 billion by early next month!
🏦 Binance Leads the Burn
Another large-scale burn is coming soon – Binance is preparing for its monthly LUNC burn, where it destroys 50% of its spot and margin trading fees related to LUNC. So far, Binance has burned over 72 billion tokens.
📉 The actual amount burned varies based on trading volume. This month, Binance burned 521.9 million tokens, compared to 760 million in the previous month.
🪙 Staking on the Rise
Investor confidence is also visible in staking. Over 1.038 trillion LUNC tokens are currently staked, representing about 15% of the total supply – up from 13% on the same day last year. This growing participation could play a crucial role in stabilizing the price.
📈 Technical Outlook: Bullish Break Confirmed
The daily chart shows a strong rebound in recent days. After bouncing off the key $0.000057 support level – a line that has held several times before – LUNC broke above a descending trendline that had been pressing down on prices since January.
✔️ Price has surpassed the 50-day moving average
✔️ MACD and Awesome Oscillator both moved above the zero line
All signs point to the next target at $0.0001, which would represent a 60% gain from the current level.
📌 Summary:
🔹 40% price jump from the bottom
🔹 Over 408 billion tokens burned
🔹 Binance to conduct another major burn
🔹 Staking up to 15% of supply
🔹 Technicals support a rally toward $0.0001
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