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The terra luna classic price has dropped to $0.00024898 today, representing a fall of 5.5% in the past 24 hours. The altcoin has also fallen by 11% in a week and by 19% in a fortnight, as an earlier rally this month loses steam, despite ongoing token burns by Binance and other parties.
Terra Ecosystem has been closely monitored ever since the crypto markets collapsed due to the native tokens of the network. The fall was historical, which created a domino impact on the other platforms as well.
Crypto exchange Binance on Wednesday announced changing the Terra Classic (LUNC) burn tax from 1.2% to 0.2%. The Terra Classic community successfully passed Proposal 5234 to reduce the tax to 0.2% and set 10% for the community pool to finance Terra Classic ecosystem development and contributors.
Terra Luna Classic price continued falling as demand for the coin crashed. LUNC price plunged to a low of $0.00024, which was the lowest level since September 26.
The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Terra classic saw an expected reversal from its six-week trendline resistance, can it find reliable rebounding grounds?
A new ecosystem expansion strategy was revealed by the Terra ecosystem governance team, which was made up of LUNA and LUNC. This strategy was the team's attempts to restore the Terra ecosystem after the tragic event of its crash.
The Terra Classic (LUNC) community has been adopting several strategies to revive the stability within the network. In the latest attempt, they passed Proposal 5234 after a week-long debate and vote.
The TerraClassic price has recently been in the spotlight as the LUNC and USTC prices appear to be quite bullish. While the USTC price appeared to be confident in regaining its peg, the stablecoin has once again scrambled into the deep bearish well.
Binance has burned an extra 2.5B Terra Classic (LUNC) tokens in its third round of weekly off-chain burns despite the low trade volume that Binance had announced to implement a Terra classic (LUNC) burn mechanism to burn all trading fees for Terra Luna Classic (LUNC) tokens.
Terra blockchain developer Edward Kim has shared a proposal to launch a Terra Classic Grants program. The directive is aimed at an efficient and transparent distribution of community pool funds.
Binance burned 2,500,382,131.16 LUNC tokens worth $659,300.76
Terra (LUNA) double-digits in the red as the cat-&-mouse game between Interpol and Do Kwon continues.
The world's largest crypto exchange Binance burned over 2.5 billion Terra Classic (LUNC) tokens in the third batch of the Binance burn mechanism. With the completion of 3rd batch, Binance has sent nearly 11 billion LUNC tokens in total to the burn address.
Terra Classic core developer Edward Kim today disclosed a plan to start a $68,000 Terra Classic grants program.
It's been almost four months since Terra network's LUNA collapsed along with its stablecoin, USTD, which was dipping against the US dollar. However, it didn't take too long for the network to bounce back. Within a month, the network introduced a new chain known as Terra Classic (LUNC) and, sometime later, its stablecoin TerraClassicUSTC.
On Monday (October 17), Australian crypto investor and analyst Miles Deutscher, who joined “Crypto Banter” a few months ago to host a daily DeFi show, said that “you can still make money in the bear market.
Terra (LUNA) price has completed a corrective movement and could soon break down from its corrective pattern, while Luna Classic (LUNC) is looking bearish in the longer term. The post Terra LUNA and Luna Classic (LUNC) Price in Trouble as Support Weakens appeared first on BeInCrypto.
The terra luna classic price has dropped to $0.00026542 in the past 24 hours, representing a slight dip of 0.5%. LUNC is also down by 12% in a week and by 20% in the last 14 days, as ongoing negative macroeconomic conditions continue to weigh down the recovery it enjoyed towards the end of September.
Edward Kim, a lead developer at Terra Rebels and Drexel University associate professor, proposes the Terra Classic Grants Program to attract new utility to Terra Classic (LUNC) chain. The program will ensure transparent and efficient use of funds redirected to the community pool after the passing of Proposal 5234.
Before discussing why the LUNC is going down? And will it stabilize again?
Crypto price today Oct 16th: The crypto market shows several cryptocurrencies painted green today as the traders' sentiment has calmed down from the high CPI data. By press time, the global cryptocurrency market cap is trading at $915.55 billion, whereas the total trading volume wavers at $58.48 billion.
LUNC burn weekly numbers turned out better than expected, here's detailed insight
Surprising Do Kwon appearance may lead to high volatility in all Terra ecosystem cryptocurrencies
The Terra Classic [LUNC] community has been muddled in a debate since a member proposed to have the 1.2% tax burn reduced. Akujiro, a LUNC community member, had initially asked that LUNC reduced that tax burn to 0.2%.
