Terra Classic Price Soars to 15-Month High Amid Binance Burn and Terra-Luna Anniversary

Terra Classic (LUNC) has experienced a significant price surge in recent weeks, reaching a 15-month high following Binance's burn program and the anniversary of the Terra-Luna collapse. The altcoin's price has increased by over 100% since breaking above the $0.000046 resistance on April 23.

The breakout was driven by two key catalysts: an aggressive uptick in LUNC burns and renewed market attention around the May anniversary of the Terra-Luna collapse. Binance's burn program has played a crucial role in this price surge, with over 3 billion LUNC burned this month, bringing the cumulative total to 446.34 billion.

On-chain data also suggest bullish signals, with LUNC's social dominance reaching a 30-day high of 0.095 on May 4 and spot volume climbing by over 100% in the past week. However, an overbought RSI of 77.92 and persistently negative funding rates indicate a near-term pullback risk.