Why Is Terra Luna Classic (LUNC) Price Up Today? Binance Behind It!

The post Why Is Terra Luna Classic (LUNC) Price Up Today? Binance Behind It! appeared first on Coinpedia Fintech News

Terra Luna Classic (LUNC) surprised the crypto market on New Year’s Eve with a sharp rally of nearly 20% in just 24 hours. LUNC token price climbed to around $0.000045, with its market cap hitting close to $250 million.

The sudden move left many traders asking what triggered the rally and whether it has real strength behind it. 

One of the main reasons behind LUNC’s sharp price jump was a massive token burn linked to Binance. According to on-chain data, a single transaction destroyed 5.33 billion LUNC under Binance’s trading-fee burn program.

This burn reduced LUNC’s total supply from about 6.477 trillion to nearly 6.471 trillion tokens, tightening supply and boosting short-term market confidence.