LUNC News On This Pumping Terra Classic Price? More In Store?

Terra Classic (LUNC) Price Prediction News: The LUNC community proposal around token burning mechanism is leading to pump in the cryptocurrency price. In a latest, top crypto exchange Binance burned over 6 billion Terra Classic (LUNC) tokens. This led to a big spike in LUNC price, which is around 12% higher than 24 hours ago. It remains to be seen if there would be a further jump in the token’s price.

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Binance Burn News Pumping LUNC Price?

As of writing, Terra Classic (LUNC) price stands at $0.0001815, up 10.88% in the last 24 hours, according to price tracking platform CoinMarketCap. At one point on Thursday, LUNC jumped to a new weekly highly of $0.0001902. Earlier, Binance said that as part of the 6th batch of the LUNC burn mechanism, it burnt over 6 billion LUNC tokens. This makes is around 20 billion LUNC tokens burned so far in the form of trading fees on Terra Classic spot and margin trading pairs.

In November 2022 alone, the Terra Classic LUNC community burned around 150 million LUNC tokens. Binance said it would update the details on token burn each month.

“The calculation of total trading fees on LUNC spot and margin trading pairs to be burned from the previous month will be done on the first day of every month.”

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In other news, web 3.0 infrastructure platform Ankr faced a huge exploit that amounted to millions of dollars. As per latest reports, the hacker has reportedly minted 10 trillion Ankr Reward Bearing Staked BNB. It is also found that there was a transfer of 900 BNB coins to Tornado Cash. Ankr said in response that it was working with exchanges to immediately halt trading. All underlying assets on Ankr Staking are safe at this time, it clarified.

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

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