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Binance burned 5.33 billion $LUNC tokens, triggering a sharp 20% price surge.
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Terra Luna Classic trading volume jumped 620%, crossing $110 million within just 24 hours.
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Community-led burns destroyed over 436 billion $LUNC tokens since the 2022 collapse.
Terra Luna Classic ($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.
Binance Burn Triggers Sudden $LUNC Rally
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.
On the upside, strong resistance sits between $0.000043 and $0.000049. A clear break above this range could push the price toward $0.000065.
Meanwhile, the RSI is near 52, showing a neutral market with no strong buying or selling momentum yet.