Terra classic 9LUNC) staked Archives

Binance Burn Amount for Terra Classic (LUNC) Expected to Dip in May

28Apr

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

Binance Burn Amount for Terra Classic (LUNC) Expected to Dip in May

Binance, the leading cryptocurrency exchange, has been a major supporter of the Terra Classic (LUNC) ecosystem since its crash in May 2022. This support comes through a monthly burn mechanism where a portion of LUNC trading fees are used to incinerate tokens, permanently reducing the total supply. Binance Burn Program: A Pillar of LUNC Revival Efforts Since its launch in 2022, Binance's LUNC burn program has been instrumental in attempts to revitalize the token's value. As of April 2024, Luncmetrics reports that Binance has burned over 57.66 billion LUNC, representing over half (51.9%) of all LUNC tokens ever burned by the entire community. Read Also: Shiba Inu Network to Undergo Major Upgrade: Faster Transactions, Lower Fees on the Horizon The most recent burn, the 20th iteration,...

Terra Classic (LUNC) Drops KYC Requirement for L1 Developers in Surprise Move

22Mar

By Adaralegbe Tosin MNo Comments

Blockchain

Terra Classic (LUNC) Drops KYC Requirement for L1 Developers in Surprise Move

The Terra Classic (LUNC) development community took a sharp turn on KYC (Know Your Customer) requirements for L1 developers. In a surprising move, proposal 12033, which mandated KYC, was repealed following a tweet from TerraCVita, a prominent voice in the Terra Classic community. Read Also: Terra Classic (LUNC) Shows Resilience with Surge in Holders, Price Uptick https://twitter.com/TerracVita/status/1770881735586119920 This reversal comes amidst ongoing efforts to rebuild trust and transparency within the Terra Classic ecosystem after the May 2022 collapse. The previous KYC requirement aimed to introduce accountability among developers. However, concerns arose regarding potential privacy limitations and hindered innovation. The repeal of the KYC proposal signifies a shift towa...

Terra Classic (LUNC) Shows Resilience with Surge in Holders, Price Uptick

22Mar

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

Terra Classic (LUNC) Shows Resilience with Surge in Holders, Price Uptick

The Terra Classic (LUNC) ecosystem is experiencing a resurgence of interest, with the number of wallets holding LUNC and USTC surpassing a significant milestone of 5.5 million, as reported by Cosmos blockchain explorer, ATOMScan. This number even outpaces established cryptocurrencies like Cardano and Shiba Inu. This surge in holders highlights the unwavering commitment of the Terra Classic community despite the project's collapse in May 2022. The community appears dedicated to its revival. Read Also: XRP Ledger Gears Up for AMM Launch, Anticipation Builds in Crypto Community Exchange Support Fuels Growth: Support from major cryptocurrency exchanges, particularly Binance, is a key driver behind the rising number of LUNC and USTC holders. Binance's ongoing LUNC burn campaign, where ...

LUNC Community in Limbo over Job Proposal: Risks, Rewards, and Unanswered Questions

25Jan

By CryptolifedigitalNo Comments

Blockchain

LUNC Community in Limbo over Job Proposal: Risks, Rewards, and Unanswered Questions

The LUNC community is abuzz with the debate surrounding the PPJ (passed in #11889), a proposal aimed at improving how jobs and spending are handled within the ecosystem. While its intent is noble – to address community concerns and establish clearer guidelines – the proposal has sparked controversy due to its potential impact on developers and the overall project. https://twitter.com/ColeStrathclyde/status/1750102357914890722 Read Also: XRP Ecosystem Braces for Game-Changing Shift with XLS-30D AMM Amendment At its core, the PPJ advocates for "payment after approval of completed work through a spending proposal." This simple statement carries significant weight, effectively placing the financial burden on developers until their work is deemed acceptable by the community. While this...

Terra Classic Community Burns Over 700 Million Tokens, Sparking Hope for Cryptocurrency’s Revival

24Jan

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

Terra Classic Community Burns Over 700 Million Tokens, Sparking Hope for Cryptocurrency’s Revival

The Terra Classic community has taken a major step towards reviving their embattled cryptocurrency, LUNC, by burning a staggering 700 million tokens alongside 230,000 USTC. This significant burn, reported by pseudonymous Twitter user CryptoBull (@AlexCryptoBull), has ignited renewed optimism among LUNC's devoted supporters. Read Also: Terra Classic: Navigating Uncertainty with Glimmer of Hope https://twitter.com/AlexCryptoBull/status/1748985406165508463 Terra Classic, formerly known as LUNA, experienced a devastating crash in May 2022, plummeting in value and wiping out billions of dollars in investor wealth. However, a dedicated community refused to abandon LUNC, forming a recovery plan centred around reviving the token and stabilizing its algorithmic stablecoin counterpart, USTC...

LUNC Burn Tax Debate Heats Up: JesusIsLord Validator Casts “No” Vote on Proposal #11975

15Jan

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

LUNC Burn Tax Debate Heats Up: JesusIsLord Validator Casts “No” Vote on Proposal #11975

The fire is burning bright within the LUNC community, fueled by the ongoing debate surrounding proposal #11975: a temporary tiered burn tax on both LUNC and USTC. But amidst the flames, a dissenting voice rings out – JesusIsLord Validator, a prominent figure in the ecosystem, has firmly planted their flag in the "No" camp, offering a clear and concise rebuttal to the proposal's merits. https://twitter.com/ForTheCross_CH/status/1745635796919697789 At the heart of their opposition lies a commitment to a simpler, more equitable solution: a permanent 1.5% on-chain tax applied equally to both LUNC and USTC. This alternative, rooted in a previously submitted parameter change proposal, awaits the crucial implementation of tax-to-gas functionality for its return to the voting arena. Read ...

Can a Weekly Stake Reward Burn Initiative Propel LUNC Towards Ecosystem Revival?

16Dec

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

Can a Weekly Stake Reward Burn Initiative Propel LUNC Towards Ecosystem Revival?

In the wake of the blockchain crash and subsequent efforts to revive the LUNC ecosystem, community members and long-term stakeholders are proposing a unique and collective initiative. The idea centres around burning the stake rewards earned over 24 hours once every seven days, creating a consistent mechanism for reducing the LUNC token supply. This proposal aims to harness the collective responsibility of community members to actively contribute to the ecosystem's recovery. Read Also: Shiba Inu (SHIB) Achieves Milestone Listing on Coincheck: A Leap from Meme to Mainstream Adoption The Concept With nearly 1 Trillion LUNC tokens staked for the long term, the proposal suggests a systematic approach to burn stake rewards. Community members would retain stake rewards earned over six days a...

Terra Classic (LUNC) Faces 20% Price Crash Following Network Upgrade as Founder’s Extradition Looms

12Dec

By CryptolifedigitalNo Comments

Terra Classic (LUNC)

Terra Classic (LUNC) Faces 20% Price Crash Following Network Upgrade as Founder’s Extradition Looms

Terra Classic (LUNC), the native token of the Terra blockchain, is grappling with a 20% price crash after the recently completed v2.3.2 network upgrade. This setback comes just days after the cryptocurrency experienced a parabolic rise, rallying around 200% over the past month. Despite the optimistic surge, the recent price decline has overshadowed the token and related assets, including Terra Classic USD (UST) and Terra (LUNA). Read Also: Crypto Analyst Predicts XRP Surge in 2024 Amid Regulatory Developments Since November 11, LUNC's price soared from $0.00008355 to $0.000249, marking a significant recovery for investors who weathered the catastrophic collapse of the Terra ecosystem in May 2022. Although LUNC is far from its all-time high of $119, set on April 5, 2022, investors are...

Crypto Market Faces Correction as Terra Classic and Some Others Altcoins Experience Double-Digit Losses

11Dec

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

Crypto Market Faces Correction as Terra Classic and Some Others Altcoins Experience Double-Digit Losses

In a recent turn of events, the cryptocurrency market is witnessing a significant correction, with several altcoins experiencing double-digit losses. Terra Classic, in particular, has retraced by 36% from its recent high of $0.000278, now trading at $0.00018 as of Monday. Bitcoin and Ethereum, the two leading cryptocurrencies, are not immune to the market headwinds, facing losses of 3.2% and 3.8%, with prices at $42,356 and $2,246, respectively. Solana (SOL) has lost support at $70, while Cardano (ADA) is exchanging hands at $0.55, down 6.5% in the past 24 hours. Cumulatively, the market cap has contracted by 3%, settling at $1.65 trillion. Terra Classic Price Retreats Amidst Broader Market Correction Terra Classic, which recently surged to highs of $0.000278, has experienced a notable r...

Terra Classic (LUNC) Faces Challenges but Holds Strong Potential: Google Bard Predicts Price Movements by December 2024

10Dec

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

Terra Classic (LUNC) Faces Challenges but Holds Strong Potential: Google Bard Predicts Price Movements by December 2024

In recent developments, Terra Classic (LUNC) has experienced a slowdown in its price momentum, dipping below the crucial support level of $0.0002 after a series of substantial surges. Currently trading at $0.0001917, the digital asset has witnessed a 4.66% price decline in the last 24 hours. Despite this setback, LUNC still boasts an impressive 43.14% gain over the past week and an astounding 196.82% increase in the last month. The cryptocurrency community is closely monitoring the situation, hoping for a continued uptrend. As the Bitcoin halving is scheduled for April 2024 and with an overall bullish sentiment in the crypto market, attention has turned to Google Bard for insights into how these factors may impact LUNC's price by December 2024. Read Also: LUNC and USTC: Unveiling the...