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The Trading Volume of LUNC Has Jumped 153% As Tokens Have Rebounded

The Trading Volume of LUNC Has Jumped 153% As Tokens Have Rebounded

Within an hour of losing 25% of its value, LUNC’s price had increased by 25% after a six-day decline. LUNC is currently worth $0.00025, up 13.67% over the past 24 hours and down 6.615% over the last week.

The volume of LUNC’s trades rose by 153% as of press time. Traders’ volume represents the volume of trades on an exchange. Investors selling their LUNC coins on exchanges may have boosted the volume of trading.

Why Did the Price Rise?

An increase in marketplace purchases accompanied the growth in trade volumes. Following the 1.2% tax burn on September 21st, Terra Chain’s native asset, LUNC, has been the subject of increased discussion.

Since September 17th, the price has dropped more than 90%, halting the excitement. Similarly, Binance’s announcement that all on-chain transactions would incur a 1.2% tax burn had no impact on the market.

According to Binance CEO Changpeng Zhao, LUNC traders will not be charged a token burning charge. Rather, CZ is offering users a subscription to burn the cryptocurrency, with the caveat that a full-fledged solution will only be available if more than 50% of the LUNC transaction volume is completed via the subscription.

 

Interpol’s red notice and Terra’s founder Do Kwon’s recent developments exacerbated the pressure to sell. An arrest order has been issued for Do Kwon by a South Korean court for breaking capital markets legislation with five others.

A new twist was added to this story when Kwon’s alleged absence from Singapore was revealed. While Terra’s founder claims he isn’t on the run, he joked on Twitter on September 17 that he “needs to trim calories” after not jogging for so long.

 

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