Binance recently announced the addition of new trading pairs, including Terra Luna Classic (LUNC), sparking a surge of approximately 60% in the LUNC price. Binance listing of LUNC coincides with the strategy to capitalize on the flourishing crypto market, boosting the value of LUNC within a short span.
Addition of New Trading Pairs
Binance’s latest announcement brings attention to the inclusion of Terra Luna Classic (LUNC) in its trading pairs. The cryptocurrency experienced an extraordinary surge, marking a significant increase in its value over the past 24 hours.
Notably, this surge coincides with Binance’s recent decision to burn nearly 4 billion LUNC tokens, part of its ongoing LUNC burn mechanism. This action contributes to the scarcity of LUNC tokens, amplifying the cryptocurrency’s value and influencing market dynamics.
Impact of Binance Listing
The addition of new trading pairs by Binance, including AUCTION/FDUSD, IOTA/FDUSD, and SUPER/TRY, scheduled to commence on December 5, 2023, amplifies trading opportunities. Particularly enticing is the zero maker fees on FDUSD trading pairs, aiming to incentivize active traders.
Binance’s expansion into the USTC perpetual contract landscape further complicates the unfolding narrative. The launch of a USTC perpetual contract offering up to 50x leverage correlates with a surge in trading volumes for LUNC and USTC, influencing their prices significantly.
Binance’s strategic moves in listing LUNC, implementing the burn mechanism, and introducing the USTC perpetual contract underscore the exchange’s commitment to innovation.
Current State of LUNC and Market Trends
As of the latest data, the LUNC price surged by 57.41% over the past 24 hours, reaching $0.000264. This was accompanied by a staggering 217.22% increase in trading volume, hitting $1.23 billion.
Furthermore, the cryptocurrency attained its yearly high of $0.0002738 within the last 24 hours. Notably, LUNC exhibited a remarkable surge of over 125% in the last seven days. It further showcased an impressive 30-day price jump of nearly 309%, highlighting its recent upward trajectory in the market.