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Terra Luna Classic's total burn reaches nearly 50 billion as a project committing massive weekly burn sends over 106 million LUNC to the burn address. The community burned over 547 million LUNC tokens last week, after a massive 9 billion LUNC burned in the first week of March supported by 8.85 billion tokens burned by The post LUNC News: Terra Luna Classic Burn Reaches 50B, Price Jump Ahead?

The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are reportedly investigating the collapse of the algorithmic stablecoin terra usd (UST) and the firm Terraform Labs. Unnamed sources say that former staff members from Terraform Labs, the company behind the Terra blockchain project, have been questioned by U.S. law enforcement.

Crypto bulls are on the offensive following an eventful event characterized by disclosures of exposure to fallen United States banks. Terra Luna Classic price spiraled massively during the weekend as investors reacted to the messy events surrounding Silicon Valley Bank (SVB) and Signature Bank New York.

Terra LUNA Classic Price Prediction: Our LUNC crypto analysis suggests that the price can tank a lot if it closes a day below $0.000120 level.

The most recent crypto-market dip, one accelerated by the collapse of Silvergate Bank, is weighing down heavily on Luna Classic (LUNC), the cryptocurrency that powers the original but not largely defunct Terra blockchain ecosystem.

Terra Classic has been experiencing fluctuations in its price because of speculations around the drop in value of its fiat-pegged stablecoin, UST, in May 2022. As a result, many LUNA holders are constantly looking for safer options to invest in, preferably at a low price to minimize the risks involved.

The Terra Luna Classic price has fallen by 12% in the past 24 hours, dropping to $0.00012029 as the news of Silvergate Bank's liquidation sends shockwaves through the cryptocurrency market.

Stablecoin Terra Classic USD, aka USTC, is up 12% since the start of the trading session, amid an announcement that major cryptocurrency exchange Binance has added a trading pair with USDT. In addition to USTC's price, the stablecoin's trading volume has also increased significantly over the past 24 hours, up 135.7%, according to Nomics.

Terra Luna Classic (LUNC) continues to endure bleed-out price action, as authorities in Singapore open investigation into Do Kwon - can LUNC recover?

LUNC News: The Terra Luna Classic community currently votes on a proposal to remove developer Tobias “Zaradar” Anderson from the Joint L1 Task Force developer group. Meanwhile, validators and projects continue to burn large amounts of LUNC tokens to push total burn towards the 50 billion mark.

Singapore authorities have launched a probe into Do Kwon's Terraform Labs, the entity that developed the now-collapsed TerraUSD stablecoin.

LUNC Price Prediction:  Amid the increasing bearishness in the crypto market, the LUNC price breached monthly support of $0.000152. This breakdown backed by increasing volume indicated the sellers are confident to prolong ongoing correction.

Last Friday's crypto market dip on Silvergate Bank concerns weighed heavily on Luna Classic (LUNC), the cryptocurrency that powers the original but not largely defunct Terra blockchain ecosystem. After dipping more than 10% on Friday from near $0.00017 to around $0.00015, the cryptocurrency has since eased a little lower to stabilize in the mid-$0.00014s. Price predictions thus remains somewhat downbeat.

Terra Luna Classic price prediction is not looking very bullish as the price has broken the uptrend and retesting a key support.

LUNC Price Prediction: Over the past seven weeks, the LUNC price obtained strong footing from local support of $0.00016. The coin rebounded from this support several times indicating the traders were aggressively accumulating at this level.

Binance, the largest cryptocurrency exchange in the world, recently finished its 7th batch of the LUNC burn by eliminating roughly 8.9 billion LUNC tokens from circulation. This event marked the formal reintroduction of the Binance LUNC burn mechanism to the Terra Classic community.

The crypto market is still dealing with the fallout from Silvergate's danger warning.

Terra LUNA Classic (LUNC) bulls are eyeing the bullish target of $0.00022. At press time, it was trading at $0.0001518 – there were two immediate resistances at $0.00017 and $0.00021.

The Securities and Exchange Commission (SEC) has been tightening its grip on Terra Luna Classic (LUNC) investment scheme, while the fugitive Do Kwon is still on the run from law enforcement.

Binance will burn 50% of its LUNC trading fees for the first time on March 1, 2023.

The world's largest crypto exchange Binance has burned massive amounts of LUNC tokens in the 7th batch of the LUNC burn mechanism. This marks the official return of Binance LUNC burns back to the Terra Luna Classic community.

Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, is still looking for a lifeline in the crypto space after facing weeks of bearish sentiments. With the Terra Classic community putting in place measures to help the token gain some utility, investors are monitoring LUNC's price on how it will perform in the coming days.

The terra luna classic price has risen to $0.00017240 today, with the coin rising by as much as 7.4% in the past 24 hours. The spike has been caused by anticipation surrounding the next Binance burn update, with the exchange set to report today on how much LUNC it has burned since last November.

Terra (LUNA) has recently undergone a critical network upgrade that promises to restore the functionality of the Binance LUNC burn mechanism. The upgrade, dubbed the Terra Classic network, has been live since February 25th, 2023, and is expected to improve the overall stability and security of the Terra ecosystem.