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In the fast-paced world of cryptocurrencies, there's a remarkable phenomenon taking place at Binance, one of the world's leading cryptocurrency exchanges. Each week, an astonishing 400 million LUNC tokens are sent to the incinerator, never to see the light of day again.
After a week of notable declines in Terra Luna Classic (LUNC) value, the altcoin has sparked hopes of a potential revival. Recently, buyers have boldly capitalized on LUNC's price dip, establishing robust support and forcing the price into an upward correction.
The Terra Luna Classic community has now burned a total of 76 billion LUNC tokens, marking a significant achievement since May 18, 2022. Binance, the largest crypto exchange globally, has contributed more than half of this amount, burning nearly 38.81 billion LUNC tokens.
The total LUNC burned by the Terra Luna Classic community reaches 76 billion, hitting another milestone in the community's efforts to reduce the circulating supply of LUNC since May 18, 2022. The world's largest crypto exchange Binance has burned almost 38.81 billion LUNC, contributing over 50% to the total LUNC burned until now.
Under the influence of a falling channel pattern, the LUNC Coin price has witnessed a steady downtrend over the past seven months. The coin price reverted thrice from the upper trendline and five times from the lower trendline indicating the pattern's strong influence on the market participants.
In recent days, Terra Classic Coin has been going through a series of ups and downs, leaving many investors anxious about the fate of their investments. Let's dive into the recent developments in simpler terms to help a wider audience understand what's been happening.
In the ever-evolving world of cryptocurrency, Terra Classic coin has recently taken a significant plunge, leaving investors and enthusiasts alike pondering its future. Over the course of just one week, this digital asset has seen its value depreciate by a staggering 9.47%, now resting at a modest trading price of $0.000058.
Over the last seven weeks of consolidation, an ascending support trendline has consistently bolstered the LUNC price, spurring a potential relief rally. Even amidst heightened market volatility, this supportive structure has shielded investors from a deeper price regression.
In recent reports, traders and crypto enthusiasts are abuzz with anticipation as Terra Classic (LUNC) appears poised for a remarkable 50% surge in the near future. A trading setup shared by a user known as MyCryptoParadise on TradingView has captured the attention of many, shedding light on the cryptocurrency's potential for significant gains.
In the fast-paced world of cryptocurrencies, Terra Classic (LUNC) has seen its fortunes rise and fall dramatically over the past year. From reaching two billionaire market caps in quick succession to now teetering on the edge of the top 100 cryptocurrencies, LUNC's journey has been nothing short of a rollercoaster ride for crypto enthusiasts.
One year ago, Terra Classic (LUNC) saw two billionaire market cap new highs in a row. The first was $1 billion on September 1, 2022, followed by another $1.7 billion one week later.
Terra Classic's Retracement Reaches Crucial Demand Zone, Offering Potential Support for Bulls Unless BTC Falls Below $27,000. LUNC's Prolonged Downtrend Tests Crucial Support at Approximately $0.000060.
Terra LUNA Classic price has formed a falling wedge pattern. A breakout from the pattern may push LUNC crypto it towards $0.00011 level.
The price of Terra Classic (LUNC) has seen a decline of 3% throughout the preceding 24-hour period, resulting in its value dropping to $0.00005852. Consequently, this altcoin now occupies the 90th position in the hierarchy of cryptocurrency market capitalization rankings.
Terra Classic's retracement hit a key demand zone that could come to bulls' rescue if BTC doesn't drop below $27k.
The predominant trend for Terra classic coin price over the last few months has been bearish, as evident from the series of lower highs and lower lows. The price has consistently been making downward moves, often finding resistance at the upper trendline of the established channel pattern.
LUNC has also seen a 3.5% decline in the past week, although it has recorded a 3% increase in the last 14 days. Despite this short-term improvement, it still exhibits a 1% decline over the course of a month and a significant 81% decline over the past year.
In a stunning twist of events, a group of investors has decided to withdraw their class-action lawsuit against Terraform Labs and its co-founder, Do Kwon, following allegations of fraud. This unexpected development unfolded in a recent filing made on September 28th in the United States District Court for the Northern District of California, leaving many in the cryptocurrency and investment communities perplexed and intrigued.
Amid Terra's ongoing legal battle with the U.S. SEC and the possible conclusion of Do Kwon's sentence in Montenegro, a surprising turn of events unfolded.
Shocking court evidence showcases Do Kwon bragging about making fake transactions ‘indiscernible.'
Lawyers representing the investors submitted a notice of voluntary dismissal of the lawsuit against Terraform Labs and Do Kwon in the United States District Court for the Northern District of California.
In a rapidly evolving legal landscape, Terraform Labs and its co-founder, Do Kwon, find themselves at the center of multiple controversies. Amidst the storm, a recent development has caught the attention of many: a group of investors has decided to withdraw their class-action lawsuit against the company and its leadership.
Investors have withdrawn a class-action lawsuit against Terraform Labs (Terra) and its co-founder Do Kwon. The lawsuit alleged crypto assets security fraud, resulting in the loss of investor funds.
The dropping of the suit came amid Terra facing a lawsuit brought by the U.S. Securities and Exchange Commission and Do Kwon possibly nearing the end of his sentence in Montenegro.
