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The Terra Rebels announced on Monday, through its official Twitter account, that Neblio, a major corporate blockchain, has become an official backer.

Terra Classic is showing some signs of life thanks to a system that is being implemented by leading cryptocurrency exchange platform, Binance. Binance burns another 3 billion LUNC, brings total of burned units to 17.9 billion LUNC briefly exhibits upward price rally, up by 5% in the past 24 hours at one point A 12% dip might bring Terra Classic price all the way to $0.00018 It can be recalled that on September 26, 2022, the company decided to burn all spot and margin trading fees on LUNC transactions by sending them to a specific wallet address.

LUNA Classic (LUNC) is still going strong despite losing more than 99.99% of its value during the market crash. It now also boasts one of the strongest and most active crypto communities on social media, which have now taken their combined power towards getting the coin listed on large exchanges.

A developer has submitted a proposal to help Terra Classic's former stablecoin regain its $1 peg, but there are critical flaws to his plan.

Earlier today, the Terra Classic coin price showcased a 4% jump in response to the recent burn activity from Binance burned around 3 billion Terra Classic (LUNC) tokens. Though the reduction in supply bolstered this price rally, the ongoing sell-off in the crypto evaporated these gains.

During the early European session, the cryptocurrency market was slightly bearish, with the global crypto market cap falling from $936 billion to $933 billion. Despite a slowdown in the crypto market, leading crypto coins like Bitcoin and Ethereum prices are experiencing choppy sessions. 

The world's largest crypto exchange Binance burned nearly 3 billion Terra Classic (LUNC) tokens worth nearly $1 million on October 10. With the latest burn of another massive amount of LUNC tokens, the total supply has reduced to 6.88 trillion LUNC.

Zaradar's proposal focuses on network growth and economic stability, with an emphasis on recovering the 1:1 dollar peg.

To maintain a positive user trading experience, the LUNC community requested to burn the trading charges. By delivering them to the LUNC burn address, Binance will burn all trading fees associated with LUNC spot and margin trading pairs. A suitable mechanism will be constructed to accomplish this.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

LUNC is not showing investors the expected price level since its launch in May with a plan for Terra's ecosystem revival. LUNC continues to bring bearish woes as it has lost nearly 20% of its value in the last month.

The Terra's new chain Terra Classic (LUNC) developers are striving to regain the lost trust with their everyday new updates. Though the ride has been a difficult one since the crash of Terra (LUNA) in May, the community has not lost their hopes.

Disclaimer: The datasets shared in the following article have been compiled from a set of online resources and do not reflect AMBCrypto's own research on the subject. The native cryptocurrency of the Terra stablecoin system, it was introduced in 2019.

Terra Luna Classic price prediction is now bullish after LUNC bounced off the 50-day moving average support area of $0.00022525. Most of LUNC's bullish trend is driven by the new burn mechanism. 

Number of LUNC burned doubles in a week, that's how much gone total

The cryptocurrency community is seemingly expecting the price of Terra Classic ($LUNC) to surge over 570% by the end of the year, presumably over the network's 1.2% tax burn on all transactions that is supported by leading exchange Binance. According to CoinMarketCap's price estimates feature, the cryptocurrency community sees $LUNC end the year at $0.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Analysts say the prospects of LUNC in the last quarter of the year look great due to improved tokenomics.

Prosecutors in South Korea have been dealt a blow after a district court rejected their arrest warrant request for a Terraform Labs executive who they think headed the troubled firm's business operations – with Terra Luna Classic (LUNC) prices rising high in the wake of the news.

LUNC is up 0.22% in last 24 hours and down 3.22% in past week

The original Terra chain's Luna Classic (LUNC) token is getting attention again, helped by news that the crypto exchange Binance has implemented a new burn mechanism for it. The question now is how high can LUNC go after the next burn.

In recent days, the Terra network's new chain Terra Classic (LUNC) has been in the news and one of the reasons is the Terra Classic Revival Roadmap by developer group Terra Rebels. This is the developer group that has been working for the success of the 1.2% tax burn proposal.

A South Korean District Court has dismissed the arrest warrant issued against the Head of General Affairs at Terraform Labs Yoo Mo, according to local news Yonhap. The post South Korean court dismiss arrest warrant for Do Kwon's aide appeared first on CryptoSlate.