Interesting trend in the crypto market I noticed: over the past three days, 630 million LUNC have been burned on Terra Classic. That's a significant volume. Apparently, the deflationary mechanism is starting to work — the more coins are burned, the less supply there is on the market. The price has already reacted, increasing by 10.3% over the past 24 hours. In the crypto sector, such things usually attract traders' attention. Burning coins is one way to increase the value of the remaining assets. On Terra Classic crypto assets, this looks like an attempt at recovery through a deflationary mechanism. If the burning volumes continue to grow, it could create upward pressure on the price. It's interesting to watch how the situation with this crypto project develops further.

LUNC-10.95%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin