Binance Adds New Terra Luna Classic As LUNC Price Soars 60%

In a strategic move to capitalize on the booming crypto market, Binance, the world’s leading cryptocurrency exchange, has announced the addition of new trading pairs, including a Terra Luna Classic pair, as LUNC price soars nearly 60%. This revelation comes amid a remarkable surge in Terra Classic (LUNC), witnessing an impressive surge within the last 24 hours.

So, let’s take a closer look into the intricacies of Binance’s recent maneuvers and their significant impact on the Terra Luna Classic community.

Binance Adds Terra Classic LUNC, IOTA, & Other Spot Trading Pairs

Binance, the trailblazing crypto exchange, has once again set the stage ablaze with its latest announcement on trading pairs. Meanwhile, the spotlight is squarely on the Terra Classic (LUNC) cryptocurrency, which recently experienced an extraordinary surge, witnessing a staggering spike in its value over the past 24 hours.

This surge follows Binance’s remarkable decision from last week to burn nearly 4 billion LUNC tokens in its 16th batch of the LUNC burn mechanism. Meanwhile, according to previous reports, the cumulative LUNC burn by Binance stood at an impressive 43 billion tokens, constituting a significant 52% of the total tokens burned by the Terra Luna Classic community.

Notably, this strategic move not only bolsters the scarcity of LUNC tokens but also propels the cryptocurrency’s value, creating a ripple effect across the market.

Also Read: Whale Bags 600 Billion Shiba Inu From Binance, SHIB & Bone Prices Pump 10%

Other Recent Developments & LUNC Price

Binance announced the addition of other trading pairs as well, which includes the addition of AUCTION/FDUSD, IOTA/FDUSD, and SUPER/TRY spot trading pairs, scheduled to commence at 08:00 (UTC) on December 5, 2023.

Notably, users can relish zero maker fees on FDUSD trading pairs until further notice, offering an enticing incentive for active traders, according to the announcement.

Interestingly, Binance’s recent foray into the USTC perpetual contract landscape has added another layer of complexity to the unfolding narrative. On November 27, Binance surprised the crypto community by announcing the launch of a USTC perpetual contract offering up to 50x leverage.

Notably, coinciding with this revelation was the unexpected surge in TerraClassicUSD (USTC) and Terra Classic (LUNC) prices. The USTC perpetual trading was set in motion at 12:30 UTC on the same date, triggering a surge in trading volumes for both LUNC and USTC.

As Binance continues to make strategic moves, the cryptocurrency market remains on the edge of its seat, eagerly anticipating the repercussions of these groundbreaking decisions. The LUNC listing, coupled with the recent burn mechanism and the USTC perpetual contract launch, underscores Binance’s commitment to innovation and its significant influence on shaping the dynamics of the ever-evolving crypto landscape.

Meanwhile, as of writing, the LUNC price has added 57.41% over the last 24 hours to trade at $0.000264, with its trading volume skyrocketing 217.22% to $1.23 billion. Notably, the crypto has also touched its yearly high of $0.0002738 in the last 24-hour trading. With its recent surge, the LUNC price advanced over 125% over the last seven days, along with a 30-day price jump of nearly 309%.

Also Read: Whale Transfers 24 Mln XRP Amid Price Jump, What’s Next?

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Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor and crypto journalist at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience.

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.