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The world's largest crypto exchange Binance has successfully completed six years of operations. Binance CEO Changpeng “CZ” Zhao shared the crypto exchange's key events and challenges in an official statement, in which he also disclosed that Binance invested $3 million in Terra (now Terra Luna Classic) and never moved or sold LUNC holdings.
LUNC News: The Terra Luna Classic community making several efforts to revive LUNC and repeg USTC to $1 through burns, staking, and relying on developers to bring back utility and gain support from the wider crypto community. Crypto exchange Binance and CEO “CZ” support the Terra Luna Classic community by committing to burn LUNC spot
Terra Luna Classic validator JESUSisLORD revealed two crucial governance proposals up for voting. The cryptocurrency project aims to reduce the staking undelegation timeframe from 21 days to two weeks and double gas fees.
The Terra Luna Classic community currently votes on two key governance proposals — raise gas fees by 2x and reduce the staking undelegation period to 14 days. The proposals have received initial support from the Terra Luna Classic (LUNC) community members as efforts to revive LUNC to $1 and repeg USTC are gaining momentum.
Terraform Labs, co-founded by Do Kwon and Daniel Shin, sold 110,000 Convex Finance (CVX) tokens worth nearly $450,000 in the last two days. In May, Terraform Labs moved 1.8 million CVX tokens worth nearly $8.7 million to a wallet address starting with “0x15A5” after 277 days of inactivity.
Suspected Terraform Labs address sells 110,000 CVX tokens, attracting attention.
Terra Luna Classic validator Classy's Sphere of popular community member ClassyCrypto aims to burn billions of LUNC tokens in an effort to bring back validator burns and revive LUNC price to $1. ClassyCrypto announced that he will burn 100% of the commissions of its validator until the end of the year.
Approximately 68.3 billion LUNC tokens have been burned so far, accounting for approximately 0.99% of the total token supply. Of this burned amount, 44.8 billion LUNC tokens have recently been sent to the burning address.
With Terra Classic (LUNC) going through a rough few months in terms of its price, only witnessing a modest increase across the previous day, a recent announcement could turn the tide for the rebranded native coin of the disgraced Terra (LUNA) ecosystem.
The latest update from the official LunaClassic HQ Twitter page confirms that the burn rate of Terra Classic (LUNC) is gradually inching toward 70 billion. Burning Tokens to Boost Its Value According to the update shared, the total LUNC tokens burnt is currently pegged at 68,303,850,914, representing only about 0.99% of the total supply.
Terra Classic Price Analysis: Over the last seven months, the LUNC coin price showcased an active downtrend under the influence of a falling wedge pattern. The prices have resonated within this pattern's converging trendline several times, indicating the traders are respecting this setup.
Terra co-founder Do Kwon is currently in custody in Montenegro, while Daniel Shin's trial preparations in South Korea are reportedly underway.
The Joint L1 Task Force (L1TF), Terra Luna Classic's core developer group, has issued an update on their progress and future plans for Q2. In the upcoming quarter, the developer group aims to focus on reducing the circulating supply of LUNC and USTC.
Daniel Shin is on trial for several financial crimes related to the collapse of UST, including outright fraud.
LUNC News: Terra Luna Classic core developer group Joint L1 Task Force (L1TF) reports its Q2 status update, ongoing work, and plans as the developer group prepares to shift focus on reducing LUNC and USTC circulating supply in Q3. The community pool has also started refilling after dropping to low levels, bringing some relief.
Co-Founder of Terraform Labs Daniel Shin needs more time to mount his defense, lawyers told a Seoul Court on Monday.Shin's April indictment alleges that the former Terra exec and seven other former company employees broke South Korea's Capital Markets Act.South Korean investigators are also looking to prosecute founder Do Kwon who is in a Montenegrin jail cell for forging travel papers. The first hearing for a case against Terraform co-founder Daniel Shin held on Monday following the company's astronomical crash last year that deleted over $40 million from investor's pockets.
Terra Luna Classic's core developer group, the Joint L1 Task Force (L1TF), recently released its Q2 status update, shedding light on the ongoing work and future plans for the project. As the community eagerly anticipates a shift in focus towards reducing the circulating supply of LUNC and USTC in Q3, concerns have been raised regarding the participation of validators in the LUNC burn campaign.
Terra Luna Classic core developer Joint L1 Task Force (L1TF) submitted a proposal to create a community-owned wallet, which will be managed by the Terra Luna Classic (LUNC) community through governance. LUNC validator Happy Catty Crypto has submitted a similar proposal for voting to prioritize building wallet infrastructure and prevent privatization.
Luna Classic dipped below another key support level, as all-time low trend continued.
In a surprising turn of events, popular Twitter personality, and LUNC validator, ClassyCrypto, has breathed new life into the struggling LUNC Classic (LUNC) cryptocurrency. Taking to Twitter, ClassyCrypto announced his intentions to participate in the LUNC network's governance actively, signaling a strong commitment to pushing for substantial changes.
The momentum behind the introduction of the LUNC/USTC swap pair is gaining traction as Terraform Labs commences comprehensive testing to enhance its functionality. Notably, Terraform Labs has confirmed the merger of the previously submitted Pull Request (PR) that paves the way for the birth of the LUNC/USTC swap pair.
In the wake of the recent hype around growing institutional interest in digital assets, certain cryptocurrencies have been displaying promising trends and attracting significant investor attention
LUNC News: Terra Luna Classic core developer and professor Edward Kim has unveiled his research on AI app chain “Block Entropy” which will be linked to the Terra Luna Classic blockchain as Interchain Accounts (ICA) get incorporated into the chain. Meanwhile, Edward Kim has launched Block Entropy's AI Playground to demonstrate the use case of
Do Kwon moved all 18.73 million USDC holdings to an anonymous address on July 3, same day as the transfer of 5292 BTC to the anonymous wallet.
