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CDS Crypto News LUNC Price Skyrockets 60% as Binance Incorporates a Fresh Terra Luna Classic Pair

Crypto News

LUNC Price Skyrockets 60% as Binance Incorporates a Fresh Terra Luna Classic Pair

Binance has recently revealed the addition of a fresh trading pair featuring Terra Luna Classic, catalyzing an additional surge of approximately 60% in the LUNC price. This announcement marks a strategic move by Binance to expand its offerings and capitalize on the momentum in the crypto market.

Ecem EFE04/12/20231 Mins read255

Crypto News- In a strategic move aimed at seizing opportunities in the flourishing cryptocurrency market, Binance, the world’s premier cryptocurrency exchange, has unveiled a lineup of new trading pairs, including one featuring Terra Luna Classic. This move comes as the price of LUNC experiences a remarkable surge of almost 60%, marking a noteworthy development in the crypto space.

LUNC Price Skyrockets 60% as Binance Incorporates a Fresh Terra Luna Classic Pair

The spotlight is now on Terra Luna Classic (LUNC), which has witnessed an extraordinary surge in value within the past 24 hours, adding a layer of excitement to Binance’s latest trading pair announcement. This surge is attributed to Binance’s bold decision last week to burn nearly 4 billion LUNC tokens in the 16th batch of its LUNC burn mechanism. Notably, this cumulative burn, reaching an impressive 43 billion tokens, constitutes a substantial 52% of the total tokens burned by the Terra Luna Classic community.

Binance’s strategic move not only increases the scarcity of LUNC tokens but also propels the cryptocurrency’s value, creating a ripple effect across the market. The exchange has also introduced other trading pairs, such as AUCTION/FDUSD, IOTA/FDUSD, and SUPER/TRY spot trading pairs, set to commence on December 5, 2023, at 08:00 (UTC).

Users can enjoy zero maker fees on FDUSD trading pairs until further notice, providing an enticing incentive for active traders. Adding another layer of complexity to the narrative, Binance ventured into the USTC perpetual contract landscape, surprising the crypto community on November 27 with the launch of a USTC perpetual contract offering up to 50x leverage.

Coinciding with this announcement was an unexpected surge in TerraClassicUSD (USTC) and Terra Classic (LUNC) prices, triggered by the initiation of USTC perpetual trading at 12:30 UTC on the same date. Binance’s strategic moves continue to captivate the cryptocurrency market, with the LUNC listing, burn mechanism, and USTC perpetual contract launch showcasing the platform’s commitment to innovation and influence in shaping the evolving crypto landscape.