🟢 LUNC Buzz 🟢
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⬅️ Why did the price of LUNC rise?
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🔅Reasons and Scenarios:
💠 The Terra Classic (LUNC) cryptocurrency increased by 75.89% over 24 hours, surpassing a price of $0.00005800, defying a broader decline in the cryptocurrency market (-3.64% in market capitalization).
💠 The main factors for this significant rise:
🔸️Network upgrade and Binance support.
🔸️Binance temporarily halted withdrawals to upgrade Terra to version 2.18, indicating institutional confidence.
🔸️Buzz around Do Kwon's ruling - anticipation before the court ruling on December 11 spurred speculative buying.
🔸️Increased token burning - 849 million LUNC tokens were burned last week (volume +1996%), reducing supply.
💠 With this rise, there was significant buzz regarding the coin's price reaching $1 as an emotional reaction not based on logical reasoning or scientific analysis; the story of LUNC reaching $1 is virtually impossible as it requires a massive market cap and a very high continuation of burning; in addition to maintaining investor confidence.
