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HomeNewsTerra Classic (LUNC) Roars Back: 100 Billion Token Burn Imminent

Terra Classic (LUNC) Roars Back: 100 Billion Token Burn Imminent

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  • Terra Classic is close to burning 100 billion tokens, marking a recovery phase after its 2022 crash.
  • The LUNC community plays a key role, burning 383,184,360 tokens in the last week, pointing to improving its future value.

Terra Classic (LUNC) has been the talk of the town this week, as it neared the 100 billion token burn, an event that underscores its recovery after the drop suffered in 2022. This strategy to decrease the amount of coins has been a determining factor in its recent improvement in the market, increasing its price and the number of tokens withdrawn from circulation for good.

Terra Classic’s user base has played a decisive role in this achievement, with a burn of 383,184,360 LUNC in the last week. This collective action has brought the total number of tokens destroyed since May 2022 to nearly 98.60 billion. With less than 1.4 billion to go to reach the 100 billion target, interest in the community is evident.

Current Status of Terra Classic (LUNC)

Terra Classic has registered an increase in its price of 1.78%, reaching $0.0001163 per token. This increase is reflected in its market value, which now stands at $672,780,857. Although trading volume has decreased by 22.38%, standing at $36,824,951, this fact has not slowed down LUNC’s advance, showing a reactivation in its market activity.

luna-classic-burn
The significant increase being recorded is not only limited to its price, but also to the amount of tokens burned. Via Luncmetrics

The practice of burning tokens has reduced the supply in circulation to 5.78 billion from a total of 6.81 billion. The LUNC community remains focused on this decline to improve the coin’s value going forward. Recalling its high of $119.18 per token, this strategy suggests an optimistic view for the future value of the coin.

lunc-on-chain-burn
According to Luncmetrics data, the community’s collaborative efforts resulted in the incineration of 383,184,360 LUNC over the past week. Via Luncmetrics

Recent Developments in Terra Classic

Terra Classic is going through a period of growth and adoption. Several exchange platforms have started to list LUNC, improving its availability and market presence.

lunc-burned-exchange
Top 10 LUNC Burners Source: Luncmetrics

Terra Classic staking has also shown positive results, with over 1.022 billion tokens currently staked. This represents about 15.02% of the total supply, demonstrating confidence in the future development of the cryptocurrency by the community.

You can comment on this in ClayBro’s video on the 1 billion LUNC burn in the last week.

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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628
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