Will LUNC price recover? Analysts’ hopes were dashed as major investors moved into Algotech.
Terra Classic (LUNC) has seen some great strength over the past week, pushing its price above the $0.0002 threshold. Most of Terra Classic’s 90% 30-day rise can be explained by its 50% surge over the past seven days.
Several factors have led to the recent rise in the price of Classic (LUNC). The key events date back to late 2023, when the Classic community made important decisions affecting the fate of the cryptocurrency.
LUNC has shown impressive trends, but its future performance is yet to be determined. Investing in LUNC involves inherent risks that are influenced by market dynamics and external factors. UST and its collapse had a significant impact on investor confidence, impacting the long-term sustainability of LUNC.
LUNC continues to move sideways even after Binance burned $300,000 worth of LUNC.
Binance recently conducted a burn of 100 billion LUNC tokens to reduce token supply. On March 1, 2024, the 19th LUNC burning session achieved the goal of burning 100 billion LUNC.
According to the report, Binance burned 2,243,572,668 Terra Classic tokens LUNC worth $321,301. The community burned a total of 102 billion LUNC. Binance burned $53.48 billion in 2,956 transactions. This combustion process has been underway since May 2022, with 19 cycles completed so far.
Binance burned nearly $270 million in trading fees last month alone. The community, including exchanges, validators, initiatives, and individuals, burned 400 million LUNC each week.
With LUNC showing sluggish sideways momentum just three days after its latest price increase, the cryptocurrency community is speculating about its future trajectory. It was disappointing for investors who had been hoping for a steady rise in prices after years of losses. Many investors are currently exploring other promising DeFi choices, such as Algotech, in hopes of earning massive returns.
Investors turn to Algotech after raising more than $1.9 million in public presale.
Algotech (ALGT) has captured the attention of major cryptocurrency investors with its surprising success, raising $1.1 million in just two days in a private seed round. In just two weeks since the public pre-sale began, the platform has raised over $1.9 million with 5,000 unique holders and is expected to soon surpass $2 million.
Algotech (ALGT) is an algorithmic trading platform that gives users access to advanced trading insights. The platform leverages artificial intelligence and blockchain technology to provide traders with unparalleled advantages. Some of the key features include breakout detection, mean reversion, and bulk arbitrage.
Pre-sale demand is currently very high, with 45 million ALGT tokens sold out in two weeks. Investors are rushing to buy ALGT tokens at $0.06. In the next phase, the price will rise to $0.08 due to deflationary token economics. Some analysts expect the token price to rise to $1 once the project is listed on a major exchange, making it an ideal time to participate in the project.
Learn more:
Visit Algotech Presale
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