🟢 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 rose by 75.89% in 24 hours to surpass a price of $0.00005800, defying a broader decline in the cryptocurrency market (-3.64% of market value).
💠 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 sparked speculative buying.
🔸️Increased token burning - 849 million LUNC tokens were burned last week (volume +1996%), leading to a reduction in supply.
💠 With this rise, there was a lot of buzz about the price of the coin reaching $1 as an emotional reaction not based on logic or scientific analysis. The story of LUNC reaching $1 is nearly impossible as reaching this fanciful price requires a massive market cap and continued significant burning; in addition to sustained investor confidence.
⛔️ Disclaimer and Disclaimer:
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🔺️Trading in general involves significant risks, so remember:
👈 Everything I publish or share is for informational or educational purposes only and is not investment advice or a recommendation to sell or buy.