{"id":302163,"date":"2023-04-02T17:30:38","date_gmt":"2023-04-02T12:00:38","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=302163"},"modified":"2023-04-02T14:25:54","modified_gmt":"2023-04-02T08:55:54","slug":"binance-burns-1-6-billion-lunc-heres-how-the-token-reacted","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/binance-burns-1-6-billion-lunc-heres-how-the-token-reacted\/","title":{"rendered":"Binance burns 1.6 billion LUNC, here&#8217;s how the token reacted"},"content":{"rendered":"<ul>\n<li><em>The Binance LUNC burn reached a total of 30.5 billion.<\/em><\/li>\n<li><em>LUNC&#8217;s price remains neutral but its developers have stayed active.<\/em><\/li>\n<\/ul>\n<p>As part of its monthly routine, cryptocurrency exchange Binance burned another round of Terra Classic [LUNC] tokens, Terra Finder <a href=\"https:\/\/finder.terra.money\/classic\/tx\/FA81ABAB8B09995815C904CC34BA3C651D46E56016C57C5C80300DD357C824B0\" target=\"_blank\" rel=\"noopener\">disclosed<\/a>. The 1 April action saw the exchange, which committed to the LUNC community proposal last year, burn over 1.6 billion LUNC.<\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Realistic or not, here\u2019s <a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\">LUNC\u2019s market cap in BNB\u2019s terms<\/a><\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Binance embraced the burning of 50% of the trading fees received from spot and margin positions after the project\u2019s <\/span><a href=\"http:\/\/ambcrypto.com\/lunc-burn-surges-24b-but-the-terra-classic-community-isnt-elated-decoding\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">community<\/span><\/a><span style=\"font-weight: 400;\"> 1.2% tax proposal. Although there was a proposal for 100% of the fees at some point, the community voted against it.<\/span><\/p>\n<h3>8 is not the lucky number<\/h3>\n<p><span style=\"font-weight: 400;\">The latest burn marks the eighth time that the exchange burnt LUNC tokens.\u00a0 The burning was aimed at decreasing the token supply and increasing its value over time. About 8.9 billion tokens were burned last time and in total, 30.5 billion tokens have been burnt as of now.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, LUNC failed to pick up a reaction despite the burning. At the time of writing, the token value only managed a 0.75% uptick, declining to overcome the bearish state it was accustomed to in the last 30 days.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">LUNC has previously had instances where the <\/span><a href=\"http:\/\/ambcrypto.com\/terra-classic-and-binance-collaborate-to-send-lunc-to-the-moon-details-inside\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">price increased<\/span><\/a><span style=\"font-weight: 400;\"> or decreased significantly as a result of the burning. Other times, there was little to no reaction.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At press time, the LUNC volatility was at an extraordinarily low level, based on indications from the Bollinger Bands (BB). This indicated that the token could be about to navigate a move in either direction. <\/span><span style=\"font-weight: 400;\">However, the <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/terra-luna\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">LUNC price<\/span><\/a><span style=\"font-weight: 400;\"> at 0.00012 touched neither the upper nor lower band. <\/span><\/p>\n<figure id=\"attachment_302173\" aria-describedby=\"caption-attachment-302173\" style=\"width: 1153px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/LUNCUSD_2023-04-02_08-09-28.png\"><img decoding=\"async\" class=\"size-full wp-image-302173\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/LUNCUSD_2023-04-02_08-09-28.png\" alt=\"LUNC price action\" width=\"1153\" height=\"727\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/LUNCUSD_2023-04-02_08-09-28.png 1153w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/LUNCUSD_2023-04-02_08-09-28-300x189.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/LUNCUSD_2023-04-02_08-09-28-1024x646.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/LUNCUSD_2023-04-02_08-09-28-768x484.png 768w\" sizes=\"(max-width: 1153px) 100vw, 1153px\" \/><\/a><figcaption id=\"caption-attachment-302173\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">As for the On-Balance-Volume (OBV), it rose to 43.55 billion at press time. <\/span><span style=\"font-weight: 400;\">The indicator adds up the volume on uptrends and subtracts the volume on downtrends. But since it was positive, it signals that LUNC could hit a potential bullish path.<\/span><\/p>\n<h3>LUNC developers: Now stuck with choices<\/h3>\n<p><span style=\"font-weight: 400;\">As of this writing, LUNC\u2019s market capitalization was 743.76 million. This means that the project has been able to maintain its popularity, dominance, and circulating supply by remaining in the top 100.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Is your portfolio green? Check the <a href=\"http:\/\/ambcrypto.com\/calculator\/terra-luna-profit-calculator\" target=\"_blank\" rel=\"noopener\">Terra Classic Profit Calculator<\/a><\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">Although there were no signs that it could range above the current 62nd position, developers have been operating on its ecosystem. According to <\/span><a href=\"https:\/\/app.santiment.net\/charts\/wJjzr_oD__sCl\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Santiment<\/span><\/a><span style=\"font-weight: 400;\">, the development activity increased to 8.19 after a small decline on 29 March.<\/span><\/p>\n<figure id=\"attachment_302174\" aria-describedby=\"caption-attachment-302174\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Bitcoin-BTC-08.25.15-02-Apr-2023.png\"><img decoding=\"async\" class=\"size-full wp-image-302174\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Bitcoin-BTC-08.25.15-02-Apr-2023.png\" alt=\"LUNC market cap and Terra Classic development activity\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Bitcoin-BTC-08.25.15-02-Apr-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Bitcoin-BTC-08.25.15-02-Apr-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Bitcoin-BTC-08.25.15-02-Apr-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Bitcoin-BTC-08.25.15-02-Apr-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Bitcoin-BTC-08.25.15-02-Apr-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/Bitcoin-BTC-08.25.15-02-Apr-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-302174\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The metric tracks the work done in public concerning upgrades on a product. So, this means Terra Classic was able to prevent a developer exodus.\u00a0 <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Binance LUNC burn reached a total of 30.5 billion. LUNC&#8217;s price remains neutral but its developers have stayed active. As part of its monthly routine, cryptocurrency exchange Binance burned another round of Terra Classic [LUNC] tokens, Terra Finder disclosed. The 1 April action saw the exchange, which committed to the LUNC community proposal last<a href=\"https:\/\/ambcrypto.com\/binance-burns-1-6-billion-lunc-heres-how-the-token-reacted\/\">Continue reading <span class=\"sr-only\">&#8220;Binance burns 1.6 billion LUNC, here&#8217;s how the token reacted&#8221;<\/span><\/a><\/p>\n","protected":false},"author":72,"featured_media":302176,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[3492],"class_list":["post-302163","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-lunc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Binance burns 1.6 billion LUNC, here&#039;s how the token reacted - AMBCrypto<\/title>\n<meta name=\"description\" content=\"In its monthly routine practice, Binance burned another round of Terra Classic [LUNC] tokens, Terra Finder disclosed\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/binance-burns-1-6-billion-lunc-heres-how-the-token-reacted\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance burns 1.6 billion LUNC, here&#039;s how the token reacted - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"The Binance LUNC burn reached a total of 30.5 billion. LUNC&#039;s price remains neutral but its developers have stayed active. As part of its monthly routine,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/binance-burns-1-6-billion-lunc-heres-how-the-token-reacted\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-02T12:00:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/04\/po-2023-04-02T083413.239.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Victor Olanrewaju\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/vic_olanrewaju\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Victor Olanrewaju\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/binance-burns-1-6-billion-lunc-heres-how-the-token-reacted\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/binance-burns-1-6-billion-lunc-heres-how-the-token-reacted\\\/\"},\"author\":{\"name\":\"Victor Olanrewaju\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/adb85c1ce0574a1ee41039ff452315e5\"},\"headline\":\"Binance burns 1.6 billion LUNC, here&#8217;s how the token reacted\",\"datePublished\":\"2023-04-02T12:00:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/binance-burns-1-6-billion-lunc-heres-how-the-token-reacted\\\/\"},\"wordCount\":448,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/binance-burns-1-6-billion-lunc-heres-how-the-token-reacted\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/po-2023-04-02T083413.239.png\",\"keywords\":[\"Lunc\"],\"articleSection\":[\"Altcoin\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/binance-burns-1-6-billion-lunc-heres-how-the-token-reacted\\\/#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/binance-burns-1-6-billion-lunc-heres-how-the-token-reacted\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/binance-burns-1-6-billion-lunc-heres-how-the-token-reacted\\\/\",\"name\":\"Binance burns 1.6 billion LUNC, here's how the token reacted - 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