Terra Classic (LUNC) has been rising over the past week, rising over 181% due to intense buying pressure. To further fuel interest in LUNC, Binance just completed its 16thth token burning, removing 3.9 billion LUNC from circulation.
While LUNC continues to attract attention, operators are also keeping an eye on the new gaming altcoin, TG.Casino (TGC), which has raised over $3.3 million in pre-sales.
Binance Burns Help Push Terra Classic Price To $0.00026
On December 1, Binance ran its 16thth symbolic burn of LUNC, which covers trading fees accrued on the exchange from October 31 to November 29.
Binance has burned over 43 billion LUNC in fees to date, significantly reducing the circulating supply.
The recent burn of 3.9 billion tokens is significantly higher than November's burn of 760 million tokens, the lowest amount yet.
This increase in burn rate correlates with a massive increase in LUNC trading volumes on Binance in the last week of November.
When trading volume increases, more fees accumulate, causing more LUNC to be burned.
By permanently removing these tokens from circulation, Binance burns put deflationary pressure on LUNC.
With fewer tokens available to trade, this can positively impact the price of LUNC, if demand remains stable or increases.
As such, LUNC has recovered to $0.00026 at the time of writing, marking its highest value since November 2022.
What's behind the rise of LUNC??
While Binance token burning has contributed, the LUNC price increase is also due to additional factors.
LUNC is riding the wave of positive sentiment in the broader crypto market, which has seen bitcoin (btc) and ethereum (eth) rally since mid-October.
Investors are increasingly bullish on cryptocurrencies after recent inflation cooldowns, meaning speculative altcoins like LUNC are becoming more attractive.
LUNC has also been boosted by breaking the $0.000125 resistance, which has helped fuel its momentum.
With LUNC holding firmly above the psychological level of $0.00025, many traders expect the trend to continue.
Between the improving market environment and strong technical aspects, it is no surprise that Terra Classic is now ranked #1 in List of Trending Cryptocurrencies from CoinMarketCap.
TGC pre-sale gains ground with Telegram integration and staking protocol
As Terra Classic continues its resurgence, crypto-news.care/?referrer=terra-classic-price-sees-further-gains-as-binance-burns-39bn-tokens–this-new-altcoin-also-looks-set-to-surge” rel=”nofollow noopener” target=”_blank”> TG.Casino and its native token, TGC, are attracting investor attention.
TG.Casino is a gaming platform that leverages Telegram's user base to integrate crypto payments and various useful features.
Unlike competitors that require extensive know-your-customer (KYC) checks, TG.Casino allows anonymous crypto gaming for greater privacy.
Players can enjoy classic games like blackjack, roulette, and slots while funding their accounts using top cryptocurrencies or TGC.
TG.Casino has attracted more than 10,200 active players Telegram community members.
TGC holders also gain access to attract staking rewards, with Yields currently sit at 177% APY.
The platform also offers a 200% rakeback bonus up to 10 eth and a 25% refund on losses for those who stake using TGC.
TG.Casino has a selection of high roller NFTs, which are awarded to users who reach specific investment milestones or pre-sale bets.
Holders will receive additional benefits such as seasonal rewards and a portion of the TGC distributed through TG.Casino's buy-and-burn mechanism.
TGC is only available through the ongoing pre-sale phase, which has already raised over $1.3 million.
The tokens are priced at $0.175 at the current stage, although their price will increase with each successive stage.
With pre-sale momentum accelerating, and TG.Casino's X Followers In growth, TGC is being considered by optimistic investors.
crypto-news.care/?referrer=terra-classic-price-sees-further-gains-as-binance-burns-39bn-tokens–this-new-altcoin-also-looks-set-to-surge” rel=”nofollow noopener” target=”_blank”>Visit the TG.Casino pre-sale
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