Terra Luna Classic Price Prediction as Binance Burns 59 Billion Tokens – $10 LUNC Incoming?

cryptonews.com:

LUNC has declined by 1% in the past 24 hours, with the Terra Luna Classic price dropping $0.000108 as the wider crypto market gains by a very slight 0.5% today.

The altcoin is now up by 1% in a week and by 6.5% in a month, while it sits on a fairly unspectacular 16% gain in a year.

While the latter percentage is underwhelming relative to bigger tokens, the coin’s moves today come as Binance burns just over 1 billion LUNC, bringing the exchange’s burn total to 59 billion.

This brings the total burn to 113.3 billion LUNC, and with the Terra Luna Classic community still working on increasing the burn count and enhancing the coin’s utility, we could see more price gains soon.

LUNC’s price has stabilized a little in the past hour, leaving its indicators in a position that would suggest incoming gains.

For example, its relative strength index (purple) has risen to 60 after dipping below 50 earlier this morning, creating the possibility of gains over the weekend as it rises towards 70.

Meanwhile, its 30-day average (orange) has resumed rising further above the 200-day (blue), regaining momentum after a lull over the past couple of days.

While LUNC is doing well relative to its recent history, it should be remembered that its volume is basically minuscule in relation to the volumes of major tokens.

At $21 million, its 75% down from where it was during the first week of May, and a whopping 97.5% down from its levels in early March.

This indicates a distinct lack of interest in LUNC from the wider crypto market, which seems to remain skeptical as to the coin’s long-term viability.

Despite such negativity, Terra Luna Classic continues to take modest steps towards making itself more attractive as an asset, with Binance burning over 1 billion