Binance Intensifies LUNC Burn Campaign, Launches USTC Contracts — Terra Ecosystem Tokens Rally
Portfolio Pulse from Khyathi Dalal
Binance has intensified its LUNC burn campaign, burning 3.9 billion LUNC tokens, bringing its total to 43 billion, which is 52% of the community's 83 billion burned tokens. This has led to a surge in LUNC's price, with an 88% gain in the past week and a 124% increase over the past month. Binance also launched USTC perpetual contracts with up to 50x leverage and new trading pairs. USTC, a stablecoin, has seen a 351% increase in the past month.
December 01, 2023 | 5:54 pm
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POSITIVE IMPACT
Binance's burn of 3.9 billion LUNC tokens and the overall community burn of 83 billion tokens have contributed to a significant price surge for LUNC, with an 88% increase in the past week and a 124% rise over the past month.
The burn activity by Binance is a direct catalyst for the price surge in LUNC, as it reduces the circulating supply, potentially increasing the token's scarcity and value. The launch of USTC contracts and trading pairs also indicates increased utility and market confidence, which can further drive demand and price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100