Terra Classic (LUNC) Price Drops Over 9% In 24H, Will It Continue?

  • Terra Classic has decreased by nearly 9.20% in the last 24 hours. 
  • Binance has temporarily suspended LUNC trading fees until March 2023.

After experiencing a dramatic price surge over the last few days, Terra Classic (LUNC) is currently witnessing a breakout from its rapid price spike. LUNC, one of the leading altcoins in the global cryptocurrency market, has attained a significant price increase recently, registering more than 10%. However, the token has plunged massively during the past 24 hours.

LUNC One Day Price Chart (Source: CMC)

At the time of writing, Terra Classic is trading around $0.0001526 with a one-day trading volume of $187,491,316. LUNC has decreased by nearly 9.20% in the last 24 hours, according to CoinMarketCap (CMC). 

The Sudden Decline of Terra Classic (LUNC) 

Binance, the leading crypto exchange has recently made an update regarding Terra Classic (LUNC) Burn. According to Binance, it has temporarily suspended LUNC trading fees until March 2023. This action follows the events around the commodities pool financing bids, numbered 10983 and 11111. In addition, the crypto exchange will only burn half of the fees collected from LUNC spot and margin trades. 

The recent announcement from Binance has resulted in a gloomy impact on LUNC’s market value, which fell more than 9% during the day. Furthermore, Terra (LUNA), Terra Classic’s sister token, is also experiencing a sudden price drop. 

Currently, LUNA is trading around $1.30 with a one-day trading volume of $42,347,606. The token has decreased by nearly 4.07% during the last 24 hours, as per CMC. However, LUNC (15.44%) and LUNA (5.72%) obtained a notable price gain during the past 7 days. 

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