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Terra Classic topped all other altcoins with a surge in social engagements and mentions Despite a massive rise in burn actively, LUNC's momentum edged closer to bearishness Terra Classic [LUNC] topped the altcoin market on 3 December with regards to its social activity.
The Terra Luna Classic (LUNC) rose by 11% within a day, from $0.0001605 to 0.0001906 today.
On December 2nd, the LUNC price witnessed a massive inflow, which raised the price by 14%. However, by the day's end, the seller rejected the higher price resulting in a higher price rejection.
A South Korean court rejected arrest warrants against Terraform Labs' co-founder Daniel Shin and seven others requested by prosecutors investigating the Terra-LUNA crisis. The judge ruled a lack of proof that executives and developers tried to destroy evidence or escape from the country.
With the implosion of the LUNA coin, the Terra ecosystem was devastatingly hit within a few days in May 2022. The successor, Luna Classic (LUNC), currently once again surged in price.
The world's largest crypto exchange Binance has committed its part to the Terra Classic community by burning trading fees on LUNC spot and margin trading pairs. However, Proposal 10983 has divided the community to either choose between burn or utility as it proposes to increase the community pool from 10% to 50%.
TerraClassic USD (USTC) was also up 8% at $0.02
The Terra Luna Classic price has risen by 13% in the past 24 hours, reaching $0.00018137 following news of the latest Binance LUNC burn. Its current level marks a 12% rise in the past week, while the coin is down by 17% in the last 30 days, amid community wrangling over how best to support its future growth.
After losing momentum in recent weeks, the price of Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) ecosystem, is recording sustained gains despite the general crypto market consolidating.
In the sixth burn batch of the Terra Classic (CRYPTO: LUNA) burn mechanism, Binance burned over 6 billion LUNC on Thursday, driving LUNC up more than 17% in the last 24 hours. What Happened: Binance burned $1 million worth LUNC tokens by sending them to a dead address.
The world's largest crypto exchange Binance has burned over 6 billion Terra Classic (LUNC) tokens in the 6th batch of the LUNC burn mechanism. With the latest burn, Binance has burned almost 20 billion LUNC tokens in total from trading fees on LUNC spot and margin trading pairs.
LUNC has risen by 1% in the past day, reaching $0.00016354 amid the same rise for the cryptocurrency market as a whole. Its price represents a 1% drop in the last seven days and a 32% decline in a month, with the altcoin being pulled in different directions by its ongoing token burns, on the one hand, and plans to 'merge' it with LUNA, on the other.
Terra Classic Developers have launched the LUNC wallet to reduce dependence on Terra Station and TFL.
The Terra Luna Classic price has crept up by 1% in the past 24 hours, following the emergence of a proposal to merge its ecosystem with that of the newer Terra 2.0 platform. At $0.00016160, LUNC is also down slightly by 0.2% in the past week and by 35% in the past month, with its ongoing token burns doing little to counteract the downward pressures exerted on the wider market by FTX's collapse.
Terra Luna Classic price has been in a strong downward trend in the past few weeks as the crypto market recoiled.
The Terra Classic community aims to burn large amounts of LUNC tokens to reduce its circulating supply and revive its price to satisfactory levels. The community has burned almost 29 billion LUNC tokens in the last few months after Terra Rebels pushed the burn rate by implementing the v22 upgrade, ultimately introducing staking and the The post LUNC News: Terra Classic Community Burns 150 Million LUNC Without Binance appeared first on CoinGape.
LUNA and LUNC stood at the center of a new discussion around a proposed ‘Merge Protocol' LUNA and LUNC both registered some upticks in the last 24 hours Terra [LUNA] was among the trending topics on Twitter as of 28 November and could be considered as a topic of discussion in the crypto community.
Several proposals have been submitted in efforts to repeg USTC
Investors in Terra Classic (LUNC), the original chain of the collapsed Terra (LUNA) token, are still showing faith in the digital asset despite its diminishing utility. Amid the prevailing market bearish conditions, the token appears to embark on a bullish upward movement.
Terra Classic community witnesses crucial decision-making moments as LUNC developers re-enable Inter Blockchain Communication (IBC) with Cosmos blockchains. Meanwhile, the community remains divided on whether to increase the burn tax parameter from 0.2% to 1.2% amid the IBC reopening and whether LUNC should merge with LUNA.
There are also comments from Do Kwon, who makes the comparison with the collapse of FTX
The Terra Luna Classic price prediction is bearish, as the LUNC/USD pair has fallen below $0.000169, a support level extended by an upward trendline. The cryptocurrency market has recently been harsh on investors, with most cryptocurrencies unable to produce gains due to liquidity issues at FTX, Genesis, and many other crypto exchanges.
The Terra Luna Classic (LUNC) seems to be recovering for the past two days as its price has increased from $0.0001574 on 21 November to $0.
The ongoing crypto winter and crisis have hit the market hard. Everyone seems to be dumping high-risk assets and consolidating their portfolios to include only the best coins or tokens.
