During a period that has been ridiculously difficult for the LUNC community, a potential game-changer has now emerged in the form of rumors surrounding the fact that Coinbase, the largest cryptocurrency platform in the United States, is purchasing Terra Classic tokens in bulk. This could have a significant impact on the market.
The LUNC community is spreading the word that Coinbase will be purchasing $245 million worth of LUNC, despite the fact that the news has not yet been made public in an official capacity. Furthermore, the message indicates that Coinbase will make a public announcement regarding the news of additional burns on January 3, 2023.
Classy’s Crypto Sphere, a validator for Terra Classic, stated that they burned around 13 million LUNC coins. Because of this, the total volume of LUNC tokens that have been burned by the community now exceeds 36.23 billion.
LUNC Price Analysis
According to the price-tracking website CoinGecko, the current price of Terra Luna Classic (LUNC) is $0.00013445. This is an increase of 3.6% over the course of the previous twenty-four hours. It’s interesting to note that the token’s trading volume has skyrocketed by an astounding 47% in the past twenty-four hours.
Frequently, investors in cryptocurrencies who remember the token’s environment before Terra and its hyperinflation-induced crash before LUNC pose the question of whether or not LUNC will ever return to its former glory. In my opinion, the possibility of something like that occurring anytime in the near future is extremely unlikely.
Getting back to the topic at hand, the rumors regarding Coinbase might not turn out to be genuine after all; this is simply a heads-up. It is essential to take into account that the tweet came from an account that supports LUNC, and it is most possible that the information in question is nothing more than a rumor.
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