TerraClassicUSD (USTC) experienced a substantial price increase of nearly 50% on Sunday, September 29, coinciding with the impending implementation of a burn proposal. This initiative has stirred growing optimism among investors who anticipate that the burn program will drive up the prices of both ecosystem tokens.
Additionally, TerraLunaClassic (LUNC) rallied over 20% on the same day, further underscoring the impact of the burn initiative on market sentiment. This price action reflects a positive response from the crypto community, suggesting confidence in potential value increases following the burn.
The price surge of both cryptocurrencies highlights the market's perception that the burn mechanism could effectively reduce supply and increase demand, thus boosting token value. Overall, the burn initiative appears to have significantly fueled double-digit rallies for both LUNC and USTC.
