Terra Classic Gains Momentum with Rising Staking, Binance Burns, and New Governance Push
The Terra Classic (LUNC) ecosystem is witnessing a renewed wave of community-driven growth, marked by a surge in staking participation, intensified token burns, and a bold new proposal aimed at enforcing accountability following the fallout from Terraform Labs’ collapse. Despite modest price movement around $0.0000347, on-chain activity and governance engagement indicate strong grassroots confidence in the project’s revival.
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Staking Participation Surges Beyond 15 Percent
LUNC holders are locking in their confidence through staking, with the total bonded supply surpassing 973 billion tokens. The overall staking ratio has risen above 15.4 percent, marking one of the strongest levels in months. This milestone reflects over 967 billion tokens actively bonded and an improved decentralization score, represented by a Nakamoto Coefficient of five.
The rise in staking follows a period of minor fluctuations earlier in the month when participation briefly dipped below 15 percent. Community validators such as BiNodes have encouraged delegations to maintain this upward momentum, interpreting the trend as a foundation for long-term network stability. Analysts suggest that higher staking ratios help reduce sell pressure while enhancing validator incentives, setting the stage for potential market recovery as the network’s v3.5.0 upgrade approaches on November 20.
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Binance Burns Propel Deflationary Momentum
A major driver of LUNC’s deflationary narrative continues to be Binance’s consistent support through token burns. The exchange recently completed a 522 million LUNC burn, contributing to a monthly total exceeding 650 million and pushing overall ecosystem burns beyond 70 billion tokens. This ongoing reduction of circulating supply strengthens deflationary pressure and reinforces community optimism around LUNC’s long-term price prospects.
Market observers have credited Binance’s leadership for its continued commitment to the burn initiative, which began as a community effort to restore balance following the 2022 collapse. Weekly burns now exceed two billion tokens, signaling sustained network engagement and increased trading activity despite broader market volatility.
Governance Proposal Seeks Transparency and Accountability
Adding to the ecosystem’s momentum, a new community proposal has sparked widespread discussion. It calls on Binance to disclose and burn remaining Terraform Labs holdings—estimated at around 200 million USTC and an undisclosed amount of LUNC—linked to post-SEC proceedings. The proposal aims to ensure transparency and compliance with legal rulings tied to Terraform’s bankruptcy case.
The vote, now live on Terra Classic’s governance platform, is viewed as a test of community unity and its ability to influence ecosystem direction. With upcoming legal hearings involving Terraform’s executives and growing validator coordination, the LUNC community’s collective push for reform reflects its renewed determination to rebuild trust and utility across the Terra ecosystem.
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