The price of LUNC has rallied by 44% in the past 24 hours and this got users wondering why?
The rally comes after crypto exchange Binance announced that it would launch USTC futures contracts, offering 50x leverage.
The futures contract was scheduled to launch at 12:30 UTC today.
This is because of the announcement of a possible airdrop program for people who will burn their USTC. This is only for people who were holding USTC before the crash, I think. There can be other requirements but these are the only ones I am aware of. USTC is a failed project and it doesn't have any value except for a historical one. Because there are already new UST coins issued and airdropped by the team this old classic USTC doesn't have many demands. The price rally we are seeing can be done by the team.