Terra Classic (LUNC) Price: 60% Up in a Week — Here’s What’s Fueling the Run

TLDR

• LUNC surged over 60% in the past week and is trading near $0.0000750
• Nearly 630 million LUNC tokens were burned in three days, tightening supply
• Binance’s monthly burn on May 1 is expected to be large due to high April trading volume
• A network upgrade vote (v4.0.1) is open until May 6, boosting sentiment
• Terraform Labs settled with the SEC and is burning tokens as part of bankruptcy proceedings

Terra Classic has had one of its strongest weeks in recent memory. The token climbed over 60% in seven days and is currently trading near $0.0000750. Daily volume jumped nearly 50%, making LUNC one of the best-performing coins on the market right now.

The price broke through a key resistance level at $0.0000681, which had held firm for some time. Once buyers pushed past that level, momentum picked up quickly. The token now holds above its 50-, 100-, and 200-day EMAs, pointing to a strong near-term trend.

The RSI sits near 79, which is deep in overbought territory. The MACD is starting to flatten around the zero line, which could signal slowing follow-through after the latest spike.

The main driver behind the move is supply reduction. Over 444 billion LUNC tokens have already been burned, about 6.4% of total supply. Nearly 932 billion more are locked in staking, cutting the tradable float.

In the past three days alone, around 630 million LUNC tokens were removed through burns. That pace has been drawing traders back in.

Binance Burn and Network Upgrade

The most-watched event right now is Binance’s monthly burn, expected on May 1. Binance burns LUNC using proceeds from its spot and margin trading fees. Because April saw heavy trading activity, this burn is expected to be larger than usual.

Open interest on LUNC derivatives climbed to $37.85 million during the rally, according to CoinGlass data. That reflects growing short-term trader participation.

A network upgrade proposal, v4.0.1, is also under a governance vote until May 6. The upgrade targets past chain issues and aims to improve overall performance.

Legal Clarity and Roadmap

Terraform Labs has settled with the SEC. As part of its bankruptcy proceedings, the company is burning its own token holdings. This transition moves the project closer to full community governance.

Looking further ahead, the team has proposed Market Module 2.0, which aims to control token issuance and reduce inflation. Plans also include potential USTC staking and a gradual path toward restoring the USTC peg to one dollar.

Community engagement and social metrics are sitting at one-year highs, often a sign of retail-driven momentum.

On the price chart, resistance sits at $0.000081. If that level breaks, the next targets are $0.000090 and the psychological mark of $0.00010. Support holds at $0.000070, with Fibonacci levels at $0.000062 below that.

LUNC is trading above $0.000070 as of Friday, holding steady after 5% gains the previous session.

The post Terra Classic (LUNC) Price: 60% Up in a Week — Here’s What’s Fueling the Run appeared first on CoinCentral.