Terra Classic Community Burns A Staggering 700 Million LUNC And 230,000 USTC

Name	Symbol	Market	Market Cap ($)	Algorithm
Terra Luna Classic	LUNCUSD	Crypto	571,925,780	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Terra Luna Classic

LUNCUSD

Crypto

571,925,780

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.00000100	-0.99%	0.0001	0.000099	0.0001

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.00000100

-0.99%

0.0001

0.000099

0.0001

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.000101	0.000098	0.000101	0.000101	0.000035 - 0.000323

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.000101

0.000098

0.000101

0.000035 - 0.000323

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	04:57:48	230,209.46	0.0001	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

04:57:48

230,209.46

0.0001

USD

Price x Volume	Volume	Base Symbol	Related Pairs
3,751.73	37,795,346.49	LUNC	LUNCEUR	LUNCGBP	LUNCBTC

Price x Volume

Volume

Base Symbol

Related Pairs

3,751.73

37,795,346.49

Terra Classic Community Burns A Staggering 700 Million LUNC And 230,000 USTC – Details

22/01/2024 12:00pm

NEWSBTC

The Terra Classic Community recently had something to cheer about following revelations about the amount of LUNC and USTC token burns that were carried out in the past week. During that period, a significant amount of LUNC and USTC tokens are said to have been burned, something which could positively affect the crypto tokens’ prices. The Number Of LUNC And USTC Burned In an X (formerly Twitter) post, AlexCryptoBull, a member of the Terra community, brought to the community’s attention how 700 million LUNC and 230,000 were burned last week. Data from LUNCMetrics also confirms this development. Related Reading: How To Buy, Sell, And Trade Tokens On The Avalanche Network The Terra ecosystem has had to intensify its token burns ever since the Terra LUNA crash in a bid to revive the LUNC and USTC tokens. So far, 94.31 billion LUNC and 1.50 billion USTC tokens have been burned and wiped out from circulation since May 13, 2022, around when the LUNA crash occurred. As part of this burn initiative, the community at one time had to vote on a proposal that, if passed, would have seen 800 million USTC tokens being burned. The proposal was, however, rejected due to legal concerns. Meanwhile, the Terra community has also deployed other initiatives to help in the resurgence. Interestingly, the community recently voted against a proposal that seemed promising. This proposal involved the development team exploring the possibility of the Terra blockchain becoming an Ethereum Virtual Machine (EVM) compatible platform. Terra, being EVM-compatible, offers numerous benefits to the network, including the possibility of LUNC and USTC surging in prices due to new money flowing into the ecosystem. However, some validators seemed to have had concerns about the funding that would have been needed to implement such a project and ultimately voted against the proposal. Terra Community Faces Another Setback The Terra community was recently dealt another blow following the news that Terraform Labs had filed for bankruptcy. Considering the crypto firm’s ties with the Terra ecosystem, the LUNC and UST tokens experienced notable declines following this development. This could also mark the beginning of torrid times ahead for the community in their efforts to revive both tokens. Related Reading: How To Buy, Sell, And Trade Tokens On The Optimism Network Specifically, there could be potential LUNC and USTC selloffs from the crypto firm as part of the bankruptcy proceeding, something which will no doubt trigger a decline in their price. The Terra community has already had to deal with legal troubles, which Terraform Labs is currently facing, with the court ruling that LUNA and TerraUSD were unregistered securities. At the time of writing, LUNC and USTC are trading at around $0.0001042 and $0.02536, respectively, both down over 5% in the last 24 hours, according to data from CoinMarketCap. LUNC price suffers amid network troubles | Source: LUNCUSD on Tradingview.com Featured image from Coinmarketcap, chart from Tradingview.com

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LUNCUSD Terra Luna Classic