Will Lunc Burning Help its Price?

[Yugocean]

The fees collected from trading LUNC pairs are being burned in Binance. The market value of yesterday just burned is estimated at $1.86 million. From this it seems that the margin trading of LUNC is being traded on a large scale. But will this help LUNC price?

PS (Lunc is formally TerraeLuna, now updated as Luna Classic.

 

[Enxx]

But I would like to know how cryptocurrency are burns

 

[Yugocean]

But I would like to know how cryptocurrency are burns

Cryptos are codes in Blockchains, the proceed of removing them is called burning.

 

[Suba]

The main purpose of burning Terra Classic (LUNC) is to reduce Circulating supply in the market and maintain price stability. If demand increases immediately, the price of Lunch will rise, but in general, burning coins requires a process to increase prices, as has been done by SHIB.

 

[Enxx]

Cryptos are codes in Blockchains, the proceed of removing them is called burning.

Ok thank you for the tip, I now understand burning

 

[Yugocean]

The most burned crypto is SHIB, 90% burn in one go.

 

[gammarays]

Luna burning will help reduce the supply of s token. This affects the value because it'll increase if the same or more marketcap is maintained. Think of a sustained burn of that magnitude for a year.

 

[uptrendfinancialsignal]

I don't think that I'm going to invest my money on this type of coin because it is not promising.

 

[Reedex]

Cryptocurrency burning are often carried out to increase the price value of cryptocurrencies.

 

[uptrendfinancialsignal]

Cryptocurrency burning are often carried out to increase the price value of cryptocurrencies.

The market value and the price of the cryptocurrency will grow tremendously.