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LUNC Price Spiked Strongly As the Community Passes ‘Tax/Burn 1.2% Proposal

9Jun

By Cryptolifedigital4 Comments

Cryptocurrency

LUNC Price Spiked Strongly As the Community Passes ‘Tax/Burn 1.2% Proposal

LUNC price was believed to gain significant bullish momentum since the onset as the community was not in favor of LUNA 2.0. The Terra community then (now TerraClassic) was always in favor of burning the excess minted tokens rather than creating a new chain. As the LUNC & USDTC prices are highly dependent on the number of tokens in circulation, the need of squeezing the tokens in circulation became mandatory. However, in a recent update, the community has passed the Tax or Burn 1.2% proposal for TerraClassic, LUNC. As stated by the proposal, for every buys/sells transaction, 1.2% of LUNC coins will be burnt until the supply reaches the 10 billion mark. Read Also: Ethereum adds 500,000 new addresses per week And Its Developers Successfully Activate the Merg...

Terra Classic Holders Spikes 500% In A Month As Investors Bet On LUNC Recovery

7Jun

By CryptolifedigitalNo Comments

Cryptocurrency

Terra Classic Holders Spikes 500% In A Month As Investors Bet On LUNC Recovery

Following the downfall of Terra (LUNA) and its subsequent relaunch as LUNA 2.0, the platform’s original chain, which is presently working under the name Terra Classic (LUNC), is garnering an incredible amount of attention among crypto traders. CoinMarketCap statistics indicate that Terra Classic is the second most-searched cryptocurrency on the site as of June 7th out of all the cryptocurrencies after LUNC was the most digital asset earlier on June 3rd. Read Also: Shiba Inu-Themed Burger Joint Shares More Details About Recent Exploit And Shiba Inu Might Soon Get a Utility Boost. More also, interest among investors is highlighted by the overall number of the unique addresses that hold assets in the network in the last month; on May 9th, there were 1,642 holders compared with ...

New DEX Platform Wants To Burn Terra Luna Classic (LUNC)

3Jun

By Cryptolifedigital2 Comments

Cryptocurrency

New DEX Platform Wants To Burn Terra Luna Classic (LUNC)

After Do Kwon and Terraform Labs refused to yield to the community calls to burn LUNA instead of creating a whole new Chain, all seemed to be calm, until now. It so happens that not everyone was happy with Terraform’s game plan of not burning the tokens. Presently, a team of developers has come up with a seemingly perfect solution of their own – launching a community-based DEX with the basic aim of burning lots of LUNC (Luna Classic). For maximum effect, the platform will be called “Burning DEX.” Read Also: Ethereum Beacon Chain Releases on a New Testnet in Preparation for Upcoming Merge Facilitate Burning Of LUNC There are currently close to 7 trillion LUNC tokens minted, and this huge number has greatly contributed to the troubles plaguing the Terra ecosystem. Burning DEX...

ChangeNOW all Ready to support LUNA 2.0 and LUNC

2Jun

By Cryptolifedigital2 Comments

Cryptocurrency

ChangeNOW all Ready to support LUNA 2.0 and LUNC

Instant crypto exchange service ChangeNOW permits for swapping LUNA—the coin of the new Terra 2.0 blockchain, as well as LUNC, the old mainnet’s token. As UST and the authentic version of LUNA crashed this May, the crypto industry was observing forward to a way out that would usher new life to the Terra blockchain. On May 16th, Terra co-founder Do Kwon suggested introducing the Terra Hard Fork, and the election process kicked off. On May 28th, the new Terra 2.0 blockchain went live. Read Also: Cardano Founder Shares Key Inputs into Project's Development Thousands of crypto enthusiasts who had lost faith in Terra were reassured by the team’s efforts to recover LUNA. Earlier in May, UST, the key stablecoin in the Terra ecosystem, lost its peg to the US Dollar after the Anchor proto...