Terra Luna Classic price has, over the last 24 hours, plunged by 11% to exchange hands at $0.0001587 at the time of writing. LUNC rallied by more than 44% in the days leading to Christmas Day, tagging highs of $0.0001847. The ongoing retracement comes after Binance, the world’s largest cryptocurrency exchange by daily traded volume, announced changes to the LUNC’s burning program.
Binance Changes LUNC Burn as a Development Fund
On Wednesday, Binance shared the changes it is making to the Terra Luna Classic burning program to reflect the community’s views. According to the announcement, the changes have been made in Proposal 10983 and 11111, “where LUNC burn is being re-minted as a development fund.”
The exchange says it will effect the changes on LUNC trading fees to shrink the network’s supply “in line with what the community originally looked forward to.” Starting in December 2022, the Malta-based exchange will burn 50% of LUNC spot and margin trading fees instead of 100%.
Binance will also delay the process of transferring the LUNC trading fee burn contribution until March 01, 2023. This decision ensures LUNC trading fees are excluded from the re-minting exercise.
Meanwhile, the exchange is requesting the leadership team at the Terra Grants Foundation “to create a new burn wallet that Binance can send the LUNC spot and margin trading fees to that does not allow re-minting of the burn amount.” The team has been asked, “to whitelist Binance’s wallets (See Appendix), so that the transaction tax is not applied when transferring between these wallets.”
Binance pledged to work with the Terra Luna Classic community to ensure the implementation of the new plan. The exchange says if it cannot continue with the changes as stated, it will consider withdrawing the burn contribution.
Binance Opens Up the Industry Recovery Initiative to LUNC Chain Developers
Binance says that it will allow developers who wish to build the LUNC chain to tap the Industry Recovery Initiative (IRI) fund by providing a link where they can apply. Rules governing the new LUNC burn changes were published alongside the announcement.
Terra Luna Classic Price Retreats to Collect Liquidity
LUNC is up 19% in seven days after being rejected from a weekly high of $0.00001847. Although investors are looking forward to a bullish leg turning into the new year, the ongoing retracement could be necessary for Terra Luna Classic price push for the resumption of the uptrend.
The levels are the upper falling trend line (continuous line) and a buy signal – recently flashed by the Supertrend indicator. The latter refers to a moving average-like indicator overlaying the chart, as shown below. It incorporates the average true range (ATR) to gauge market volatility.
The Supertrend indicator flashes a buy signal when it moves below the price and changes color from red to green. If it trails LUNC price, the path with the least resistance will stay to the upside.
Investors and traders may start buying Terra Luna Classic after it rebounds from the falling trend lines (continuous and dotted). Buyers need to put their weight behind LUNC by heeding the buy signal from the Supertrend. This way, Terra Luna Classic price would quickly rebound, eyeing highs past $0.00002 and $0.00035, respectively.
On the downside, price movement below the same trend lines could wipe out the progress LUNC made during the holiday season. If losses intensify, traders may need to acclimatize to Terra Luna Classic retesting support at $0.0001275. From here, the next possible support areas lie at $0.0008 and $0.00004, respectively.
Altcoins Promising Quicker Returns in 2023
Terra Luna Classic spiked to $0.0001847 earlier this week, bolstered by the news from Binance on the burn program. However, the token lost momentum, dropping the price to $0.0001587.
LUNC’s recovery in 2023 is largely tied to the general conditions in the cryptocurrency market. Hence, investors may be interested in tokens offering early bird access in their presales. Solid fundamentals back the selected tokens below to rally after listing on exchanges.
FightOut (FGHT)
As the world’s population becomes more health conscious, there is a need to incentivize the fitness lifestyle. FightOut is Move-to-Earn (M2M) fitness app and gym chain gamifying the fitness lifestyle.
Users on the platform are rewarded for completing workouts and challenges. They also earn badges and grow within a vibrant ecosystem.
FightOut’s presale is underway and has raised over $2.42 million. For purchases made before the $5 million mark, the team is offering a 50% bonus.
Dash 2 Trade (D2T)
The cryptocurrency market is dynamic, but with a platform like Dash 2 Trade, investors can access timely trading signals that offer the best buy and sell opportunities. On the same platform, traders can build strategies, backtest, and share them with others through social trading tools.
Dash 2 Trade lets investors participate in crypto presales and get firsthand information on the market’s listing announcements. D2T is an ERC-20 token enabling all in-house transactions, including access to premium services offered on Dash 2 Trade.
D2 T’s presale has raised $10 million since it started and is expected to top it up to $13 million before its first listing on January 11.
C Charge (CCHG): A Gateway for EV Drivers To Tap The Carbon credit Industry
For a long time, the carbon credit industry has been preserved for big corporations. However, C+Charge believes that every electric vehicle (EV) owner should also benefit. The crypto platform is launching with a mobile application and charge stations.
C+Charge is building a peer-to-peer (P2P) payment system to support electric vehicle charging stations using blockchain technology. Users on the platform can pay for charging services at stations globally with CCHG tokens stored in an electronic wallet.
Drivers earn carbon credits every time they charge their vehicles. Similarly, charge station operators receive payment in CCHG, expanding the token’s utility.
C+Charge presale launched recently with $32k raised in the first stage. Investors can buy 1 CCHG for 0.013 USDT, but the price will shoot to $0.0165 USDT in the next round.
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- Backed by LBank Labs, Transak
- Earn Rewards for Working Out
- Level Up and Compete in the Metaverse
- Presale Live Now - $5M Raised
- Real-World Community, Gym Chain