FTX Reportedly Moves 87 Billion Terra Luna Classic ($LUNC) To Binance

Beleaguered crypto exchange FTX has reportedly started moving Terra Luna Classic (LUNC) tokens to crypto exchanges Kraken and Binance this month. After FTX filed for bankruptcy in November, the community found that FTX held 154.39 billion LUNC tokens in the crypto exchange's hot wallet.

Timeline of Terra-luna

The Terra Luna Classic community surprisingly turns down three proposals to burn more LUNC tokens despite eagerly awaiting massive burn events. The Terra Luna Classic price records comparatively more fall to other crypto amid the selloff in the broader crypto market.

Terra Luna Classic's total burn reaches nearly 50 billion as a project committing massive weekly burn sends over 106 million LUNC to the burn address. The community burned over 547 million LUNC tokens last week, after a massive 9 billion LUNC burned in the first week of March supported by 8.85 billion tokens burned by The post LUNC News: Terra Luna Classic Burn Reaches 50B, Price Jump Ahead?

The most recent crypto-market dip, one accelerated by the collapse of Silvergate Bank, is weighing down heavily on Luna Classic (LUNC), the cryptocurrency that powers the original but not largely defunct Terra blockchain ecosystem.

Terra Classic has been experiencing fluctuations in its price because of speculations around the drop in value of its fiat-pegged stablecoin, UST, in May 2022. As a result, many LUNA holders are constantly looking for safer options to invest in, preferably at a low price to minimize the risks involved.

The Terra Luna Classic price has fallen by 12% in the past 24 hours, dropping to $0.00012029 as the news of Silvergate Bank's liquidation sends shockwaves through the cryptocurrency market.

LUNC Price Prediction: Over the past seven weeks, the LUNC price obtained strong footing from local support of $0.00016. The coin rebounded from this support several times indicating the traders were aggressively accumulating at this level.

LUNC News: The implosion of the Terra ecosystem in May of last year, which cost a total of $60 billion, revealed cracks in the foundations of the cryptocurrency sector and sparked a year of cascading financial catastrophes that have not yet been abated. The Cosmos-based network spun out of the collapsed Terra ecosystem has somehow The post Will Validators Become The Next Big Threat For Terra Classic (LUNC)?

Terra Classic LUNC Binance News: Following the passing of proposals on Binance burn, the Terra Classic LUNC community set the stage for a potential rally in the days ahead. Binance had earlier made feature requests for the burn starting from March 1, 2023.

The terra luna classic price has dipped to $0.00016810 today, marking a 1% loss in a day and also a week. LUNC is also down by 6% in a month, with the token hurt by the recent news that the SEC is charging Terraform Labs and CEO Do Kwon with running multi-billion dollar securities fraud.

After being written off as dead and buried by casual investors and the mainstream media alike, Terra Classic (LUNC) has defied expectations by rising from the ashes to create not only cutting-edge technology but also a thriving community to support it.