LUNC Price Prediction: Is it Worth the Investment?

The Binance crypto exchange plays a big role in the LUNC burning process. The exchange has burned more than 1.34 billion LUNC in its fourth weekly crush.

Binance promises support for the LUNC burning mechanism. So far, the world's largest crypto exchange has wiped out nearly 12.5 billion LUNC through trading fees for spot trading pairs and margin LUNC.However, Binance has noticed a decrease in the number of LUNCs burned every week. This led the Binance CEO to suggest reducing the burning tax to increase on-chain and off-chain transactions.

LUNA Classic (LUNC) Price Prediction

Recently, the Terra Classic community voted to change the LUNC burning tax. The tax was changed from 1.2 percent to 0.2 percent in accordance with Proposal 5234.

The Terra Classic community is very excited about the burning tax change because it is seen as a process that drives LUNC price predictions. This new tax is expected to reduce the supply of Terra Classic by 10 billion LUNC.However, the Terra Classic community was surprised by the addition of nearly 200 million LUNC supplies on Wednesday (26/10/2022).Terra Rebels, the development team working on the Terra Classic blockchain, immediately explained that the new LUNC was a result of the community's approval of Proposal 5234.

The LUNC community was warned about this and urged not to panic. Additional LUNC supply may occur as a result of the implementation of Proposal 5234.

LUNC has been performing well over the past few days. The crypto asset briefly strengthened before dropping 0.8 percent in the last 24 hours.

LUNC investors have an optimistic view of the future of this crypto asset.Many investors believe LUNC is a worthy investment especially with its high level of popularity. The Terra Classic community announces a four-year recovery plan and a regular burning program to reduce supply and support prices.