Coinbase To Buy Terra Classic Tokens In Bulk?

LUNC Coinbase News: While the Terra Classic community continues to burn the LUNC tokens, rumors of Coinbase purchasing in bulk appears to pumping the LUNC price. The cryptocurrency is standing out among the top 50 tokens with its daily price rise. This comes after the cryptocurrency price dropping on Wednesday in the wake of massive selloff in the market. The crypto market, in what appears to be a sign of broader negative sentiment, continues to recover from November losses.

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In this context, the Terra Classic (LUNC) price continues to rise in an encouraging sign for the community. As of writing, LUNC price stands at $0.0001374, up 5.48% in the last 24 hours, according to price tracking platform CoinMarketCap. This is significantly high compared to the daily low of $0.0001271. To put the LUNC price pump in context, Bitcoin (BTC) and Ethereum (ETH) prices are up by just 0.06% and 0.24% respectively. Interestingly, the LUNC trading volume is up by a staggering 48.55% in the last 24 hours.

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Coinbase LUNC Buy? Real Or Fake?

Although the news is yet to come out officially, the LUNC community is spreading out the message that Coinbase is purchasing $245 million in $LUNC. The message also points that Coinbase would announce the news publicly on additional burns on January 3, 2023. The following message is being circulated widely on crypto Twitter:

“Coinbase has just authorized the purchase of 245 million dollars in $LUNC. Internal source says that on the 3rd to announce publicly listing more off-chain burns.”

If the Coinbase news comes out to be true, it could come as a blast for the LUNC community. On Wednesday, Terra Classic validator Classy’s Crypto Sphere said it burned around 13 million LUNC tokens. This takes the total LUNC token volume burned by the community to more tha 36.231 billion.

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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]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.