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Terra Classic Tokens, LUNC, USTC Rise From Lows, What's Happening?

Fri, 02/24/2023 - 15:15
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Tomiwabold Olajide
USTC price was trading up 6%
Terra Classic Tokens, LUNC, USTC Rise From Lows, What's Happening?
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After days of decline, Terra Classic tokens, LUNC and USTC saw a mild rebound on Feb. 24.

USTC rebounded from intraday lows of $0.026 and reached highs of $0.029 at press time. At the time of publication, USTC was trading up 6% at $0.027.

LUNC, on the other hand, had eased off its intraday gains and was trading marginally higher in the last 24 hours at $0.00016. After posting three consecutive days of losses, LUNC rebounded from lows of $0.00016 to reach highs of $0.000169 before easing.

The exact reason for the rebound is yet unknown, but it might be related to the latest market rebound. Terra Classic announced on its official Twitter account that users can now utilize squid to transfer tokens into 13 Cosmos chains from anywhere.

Binance burn anticipated by LUNC community

As stated in an earlier notice by top crypto exchange Binance, the seventh batch of LUNC trading fees to be burned will be calculated from Nov. 30 to Feb. 27, 2023, and will be burned on March 1, 2023, in line with changes made to burning.

Terra (LUNC) Price Dumps by 13%, Binance to Make Changes to Burning

As previously reported, Binance, a leading cryptocurrency exchange, made adjustments to the way LUNC trade fees are burned as part of its continuous support for the depletion of the LUNC supply.

To support LUNC development, Binance invited LUNC developers to join its Industry Recovery Initiative (IRI), a fund to support cryptocurrency and Web3 companies, founded in November 2022.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.