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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.