"Unfortunately, even LUNC is desperate and needs Binance's help."
Before plunging again, cryptocurrency Terra Classic (LUNC) over the past week managed to climb to a high of $0.0001870 as there was an increase in the burning rate by its community.
Apart from burning LUNCs, the LUNC DAO validator* also shared one of the other methods that have the potential to further increase the price of the digital asset in the future.
*the entity responsible for verifying transactions on the blockchain
According to him, LUNC may climb higher if the crypto exchange company Binance releases a positive statement about LUNA or USTC.
This follows because Binance previously warned LUNC investors after a South Korean court issued an arrest warrant against Terra's co-founder, Daniel Shin and dropped criminal charges against its founder, Do Kwon.
While the centralized exchange that stopped withdrawing funds on the Terra network on May 10 was also the cause of the LUNC price being affected.
The streak, the Terra community believes that Binance can attract more investors to buy large amounts of the digital asset if the company withdraws the following warning signs.
As of this writing, the price of LUNC is now shrinking slightly hovering at the $0.0001632 zone in the last 24 hours compared to previously gaining 6%.
