$LUNC Conflicting signals from the derivatives markets

On the derivatives front, the open interest on LUNC futures has increased by 0.77% in the last 24 hours, highlighting some optimism among Binance traders. In the last 4 hours, this interest has grown by another 1.54%, suggesting positive expectations.

However, on other major platforms like Bybit, open interest has decreased by 1.32%, indicating a more cautious or negative position from the operators.

Overall, the open interest on LUNC futures stands at around 8.21 million dollars, with small positive variations on platforms like OKX and Bitget.

Despite these partially encouraging signals, the general market orientation remains bear. The downward pressure on LUNC continues to limit the chances of a significant rally in the short term.

Impact of the burn and outlook for Terra Luna Classic (LUNC)

The continuous burn of Terra Luna Classic tokens represents a key mechanism to counteract the excessive dilution of the supply, a historical problem of this financial asset. By reducing the circulating supply, the aim is to improve scarcity and thus the potential value of LUNC.

However, the positive effects on the price have not yet materialized significantly. The active participation of the community and the focus on events like the InterChain Summit are important elements to drive the future of the project.

In this phase, it is essential to monitor the technical evolution of the market, especially the key supports and the signals coming from the derivatives, to grasp any changes in sentiment.

Finally, operators and investors should closely follow governance and development initiatives, such as the reactivation of the market module, which could represent a turning point for Terra Luna Classic and its ecosystem.