ข้อมูลข่าวสาร LUNC is burning but why isn’t it fueling a price pump, exploring reasons

It has been quite some time since the launch of the much-awaited Terra Classic [LUNC] 1.2% tax burn protocol, which according to many had the potential to change LUNC’s fate in the long run. To date, more than 18 billion LUNC tokens have been burned, which accounts for over 0.268% of the token’s total supply. Interestingly, over five billion tokens have been burned with tax, which is a positive sign that the burn protocol is working properly. Another major piece of good news came in for LUNC last month when Binance announced that it would also implement the 1.2% tax burn protocol. Binance stood up to its commitment and, by far, burnt over eight billion tokens alone. Despite all of these positive developments, things didn’t look good for LUNC, as according to CoinMarketCap, LUNC was down by over 6% in the last week. At press time, the altcoin was trading at $0.0002792. Despite the sluggish performance, surprisingly, several on-chain metrics were in favor of LUNC and indicated a possible uptick in the coming days.