🌖 Why is the $LUNC Price Surging Right Now?
One of the major catalysts behind the recent #TerraLunaClassic price surge is its aggressive burn activity. Over the last seven days, the network has burned over 205 million tokens. Since the introduction of the burn mechanism in May 2022, over 408 billion tokens have been taken out of circulation. This consistent #LUNC token burn is having a real effect on supply dynamics. Through its monthly burning of 50% of LUNC spot and margin trading fees, Binance has removed over 72 billion tokens from the system. Last month, it burned 521.9 million tokens, slightly down from 760 million in March; still, the cumulative impact remains highly significant.
How Important Is Staking in LUNC’s #bullish Case?
While burns are reducing the circulating supply, staking is playing a growing role in LUNC Bullish Chart’s long-term appeal. Over 1.038 trillion LUNC tokens, nearly 15% of the total circulating supply, are staked on the network. To put that into perspective, the staking ratio was 13% a year ago. This rising participation from long-term holders reflects more substantial confidence in the network and further limits available liquidity for trading, which can enhance upward price movement. The combined effects of high staking and rapid token burn reinforce Terra Luna Classic’s bullish chart outlook and lend weight to the current momentum.
Buy and Trade $LUNC here
