The digital currency LUNA surprised the cryptocurrency markets and rose strongly to exceed its increase rate during trading today by 200%, which indicates the strong demand for the Luna currency.
During trading, LUNA increased by 212.16% and scored about $6.02, with a daily trading volume of the Luna sign by $3,170,991,094, bringing the capital value of Luna to $772,033,984, and Luna occupies the 58th place in the ranking of the most famous cryptocurrencies in terms of market capitalization.
Analyzes indicate that LUNA’s rise during trading was due to the announcement of some major cryptocurrency exchanges such as Binance, KuCoin and GateIO to provide support for the tax-burning mechanism of the cryptocurrency.
It should be noted that the LUNC Coin, which supports the classic version of the Terra ecosystem, recorded increases of up to 100% this week, benefiting from the strong burns on the cryptocurrency.
The price of LUNC Classic has recently gone up due to the new staking service offered by LUNC DAO, a group of participants in Terra Luna, who developed this coin burning service with the aim of reducing the number of coins in circulation to recover their value.