LUNC Perpetual Contract Launch: Is Terra Classic (LUNC) Set For A Bullish Surge?
The Terra Classic ecosystem-backed cryptocurrency LUNC recently amassed substantial attention within the world of cryptocurrencies.
The recent buzz curated by the LUNC token appears to come forth as a result of the recent announcement of a futures launch margined perpetual contract.
The Launch of LUNC USDT- Margined Perpetual Contract
According to a recent announcement, LBank Exchange is setting its sights on launching a 1000LUNC USDT Margined Perpetual Contract. Moreover, the announcement was revealed by the bank on November 29, Wednesday.
As per the announcement, LBank is all set to list the 1000LUNC USDT-M perpetual contract on November 29 at 09:00 (UTC).
Moreover, the trading pair 1000LUNCUSDT reportedly has a leverage of 50x. Besides it also boasts a tick size of 0.00001USDT, along with a funding fee settlement frequency set at every one hour.
Additionally, the aforementioned launch is expected to be effective upon the commencement of trading of these contracts.
Furthermore, LBank reserves the right to modify the specifications of the 1000LUNC USDT Perpetual Contract periodically in response to market risk conditions. These adjustments may encompass the funding fee, tick size, maximum leverage, initial margin, or maintenance margin requirements.
Also read: Suspicious Whale Withdraws $51 Mln Worth ETH, SHIB, And Other Cryptos From Binance
Terra Classic LUNC Price Report
As of writing, the LUNC price ticked up 0.26% over the past 24 hours, to trade at $0.0001156. However, the token witnessed a 55.45% surge over the past seven days, along with a whopping 73.99% upswing over the past month.
Even so, the 24-hour trading volume experienced a substantial downswing of 49.39%, evaluating $182.81 million at the time of writing. Additionally, the market cap of the token also noted a 0.25% surge to $670.91 million.
The LUNC token gained attention in the crypto community after Binance’s recent burning activity. Interestingly, the Binance burn is set for tommorow, December 1. Meanwhile, the upcoming launch seems to uplift LUNC’s market sentiment, possibly sparking a price rally.
Also read: Suspicious Whale Withdraws $51 Mln Worth ETH, SHIB, And Other Cryptos From Binance