Binance once again acted as a catalyst for the rise of a crypto, in this case Terra Classic (LUNC). The crypto saw an increase of more than 60% following an announcement from the exchange.
Binance announces new trading pairs for LUNC
The world’s largest crypto exchange has announced that it will launch new trading pairs for the in-demand digital assets. Among them, we find Terra Classic (LUNC), TerraClassicUSD (USTC), dYdX as well as Blur. Binance has officially declared that it will open trading for the LUNC/TRY pair on December 5 at 8:00 a.m. (UTC).
Binance burned 3,903,522,969.89 LUNC tokens on December 1. This represents trading fees on spot and margin LUNC pairs between October 31 and November 29. Which makes a total of 362,617.17 USDT.
Destruction of tokens reduces the total supply of crypto in circulation. This contributed to a significant increase in the value of the LUNC crypto on Binance.
Terra Classic is on the rise since the exchange announcement
The price of Terra Classic immediately showed an increase following Binance’s announcement. Over the past 24 hours, the original ecosystem token Terra Chain saw its value increase by almost 65%. It is also up 110% in the last seven days. Once again, Binance is the catalyst for the notable rise of a digital asset, in addition to being a major player within the industry.
Additionally, Terra Classic’s market capitalization also skyrocketed to $1.4 billion. Thus, LUNC is now the 43rd largest crypto in terms of market capitalization. Its 24-hour trading volume increased 152% to $1.23 billion.
Faced with the rise in crypto since the beginning of December, the Luna Classic Community advises However, investors should not forget to take profits. “don’t forget to take some profits because we have pumped a lot these days.. FOMO that also comes into play doesn’t mean we stay at these prices..”.
Currently, LUNC is currently trading at 0.00024500 USDT on Binance.
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