LUNC burns 100M tokens, price rises 6% in 24 hours

Date:

January 2, 2024

LUNC was up by 6% in the last 24 hours, while its Open Interest increased.
USTC’s daily chart was also in the green, but its social metrics dropped.

Terra Classic [LUNC] has stepped up its game at the start of 2024, showing its deflationary characteristics. Not only did it prove the token’s commitment to re-establish the network, but it also had a positive impact on LUNC’s price action.

Terra Classic is burning fast!

LunaClassic HQ, a popular X (formerly Twitter) handle that posts updates related to the Terra Classic ecosystem, mentioned that the blockchain burned 100 million LUNC tokens on the 1st of January 2024.

Over 100M $LUNC Burned Today. pic.twitter.com/NKq1HpkO1q

— LunaClassic HQ 🌕 ™ (@LunaClassicHQ) December 31, 2023

AMBCrypto’s look at LUNCMETRICS data revealed a similar story. Notably, LUNC’s burn rate on witnessed a massive spike during this period. Thanks to the high burn rate, LUNC’s…

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LUNC burns 100M tokens, price rises 6% in 24 hours

Terra Classic is burning fast!

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LUNC burns 100M tokens, price rises 6% in 24 hours

Terra Classic is burning fast!

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