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Tag: USTC

Terra Classic (LUNC) Emerges Victorious as Community Revives LUNC and USTC, Outperforming Terra (LUNA)
30Dec By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Terra Classic (LUNC) Emerges Victorious as Community Revives LUNC and USTC, Outperforming Terra (LUNA)

In a surprising turn of events, the Terra Classic (LUNC) community has managed to breathe new life into the abandoned LUNC and USTC chains, surpassing the performance of the original Terra (LUNA). After Do Kwon departed from LUNC and USTC, the Terra Classic community, comprising dedicated validators and developers, spearheaded efforts to revive the struggling chains and repeg USTC. Read Also: Terraform Labs Faces SEC Setback as Judge Rules Luna and MIR Tokens as Securities Impressive Performance of Terra Classic Tokens: LUNC and USTC Over the past two months, Terra Classic ecosystem tokens LUNC and USTC have exhibited remarkable growth, leaving Terra (LUNA) trailing behind. LUNC prices soared by an impressive 300%, reaching a peak of $0.000275, supported by substantial trading volumes...
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Terra Classic Proposes To incinerate A Total of 8 Million USTC With The View To revive Community Pool
29Dec By CryptolifedigitalNo Comments
Blockchain

Terra Classic Proposes To incinerate A Total of 8 Million USTC With The View To revive Community Pool

In a rollercoaster journey, the Terra Classic ecosystem's native tokens, LUNC and USTC, have recently faced both a crash and a subsequent rise, setting the stage for a contentious debate on the platform's future. At the centre of this debate is Proposal 11958, a controversial move calling for the incineration of 8 million USTC from the community pool to revive Terra Classic tokens, including LUNC and USTC. Supporters of the burn argue that shedding the excess 8 million USTC is crucial for achieving deflation and stability. They emphasize the substantial 3.49 billion LUNC already held in the community pool, deemed sufficient to cover operational costs. Proponents, led by vocal supporter VegasMorph, believe this action sends a powerful message about actively shaping the Terra Classic ecos...
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Terra Classic Proposes Bold Move with 1% On-Chain Tax Rate for LUNC, Focused on Exchange Partnerships
24Dec By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Terra Classic Proposes Bold Move with 1% On-Chain Tax Rate for LUNC, Focused on Exchange Partnerships

In a groundbreaking proposal by @LUNCBurnProgram, the Terra Classic community is buzzing with excitement as the proposal seeks community approval to set the on-chain tax rate to a bold 1%. This move aligns with economists' recommendations, including James Tobin, positioning it at the upper limit of the proposed 0.1% to 1% currency tax range. Read Also: Shiba Inu Lead Developer Aims for Drastic 99.9% Token Burn, Community Reacts Positively https://twitter.com/terra_army/status/1738934833890410828 The Implication of the Proposed Tax Rate The proposed tax rate, if approved, will maintain the 80/20 split, directing 0.8% towards the burn wallet and 0.2% towards funding the chain. The primary reasoning behind this substantial change stems from the recent success of the Global LUNC Burn P...
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Terra Classic Community Navigates Controversy in Quest to Burn 800 Million USTC
22Dec By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Terra Classic Community Navigates Controversy in Quest to Burn 800 Million USTC

In a dramatic turn of events, the Terra Classic community remains resolute in its pursuit to burn 800 million USTC from the Risk Harbor multisig wallet. After a setback with a previous proposal, a new contender, "Burn of 800m USTC Funds" (Proposal 11927), has entered the governance voting arena, aiming to address concerns over potential legal ramifications. https://twitter.com/Lunanauts_Lunc/status/1737440829839438203 The Saga Unfolds The saga began with Proposal 11913, intending to burn the disputed USTC through a Terrad client update. However, validator Lunanauts raised legal concerns, leading to the demise of the proposal. Undeterred, the community devised a Plan B - the current Proposal 11927. This proposal suggests employing a custom contract to transfer the 800 million USTC from...
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Terra’s Remnants USTC and LUNC Experience Meteoric Rise Amidst Binance Listing and Innovative Revamp
1Dec By Onche Michael ONo Comments
Terra Classic (LUNC)

Terra’s Remnants USTC and LUNC Experience Meteoric Rise Amidst Binance Listing and Innovative Revamp

In a surprising turn of events, the remnants of the Terra blockchain, represented by USTC and LUNC tokens, have experienced an unprecedented surge in value this week. Fueled by a newly announced Binance perpetual contract listing and the emergence of an innovative Bitcoin-focused revamp and airdrop plan, the cryptocurrency community is abuzz with excitement over the unexpected resurgence of these tokens. Read Also: Terra Classic Community Urges Robinhood to List Terra Classic (LUNC) https://twitter.com/CoinDesk/status/1730311341313753117 Binance Listing Propels USTC and LUNC to New Heights The catalyst for the remarkable ascent of USTC and LUNC can be traced back to Binance's recent decision to list perpetual contracts for these tokens. Binance, one of the world's largest cryptocur...
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Terra Classic (LUNC) Set for Major Upgrade to Resolve Critical Dyncomm Module Issue
1Dec By Raliat IdrisNo Comments
Terra Classic (LUNC)

Terra Classic (LUNC) Set for Major Upgrade to Resolve Critical Dyncomm Module Issue

Terra Classic (LUNC) is on the brink of a significant upgrade as the core developer, L1TF, opts to transform an already approved proposal into a comprehensive upgrade. Proposal 11890, originally titled “Upgrade to v2.3.2 (Sequence Mismatch Issue Resolution),” has garnered unanimous support from the community and is now poised to address a critical sequence mismatch issue affecting validators in the dyncomm module of the Terrad client. Read Also: Uncertainty Surrounds USTC Future Despite Recent Surge, Analyst Cautions Against Potential Bearish Reversal The proposal, initially designed to implement Terrad client v2.3.2 on-chain, aims to rectify a crucial sequence mismatch issue that has been impacting certain validators during dyncomm commission edits. Despite its previous approval, th...
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Terra Classic Development Expands as Binance Introduces USTC Trading Pairs Alongside BLUR, DYDX, and SUPER”
29Nov By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Terra Classic Development Expands as Binance Introduces USTC Trading Pairs Alongside BLUR, DYDX, and SUPER”

In a significant stride for the Terra Classic (LUNC) ecosystem, Binance, a global cryptocurrency exchange, has announced the introduction of new trading pairs featuring USTC (Terra Classic's algorithmic stablecoin) alongside BLUR, DYDX, and SUPER. Scheduled to commence trading on November 30, 2023, at 08:00 (UTC), these additions mark a pivotal moment for Terra Classic's development and offer users expanded opportunities for engagement within the ecosystem. Read Also: XRP Joins Bitcoin in Bullish Surge: BlackRock's Move and Bitcoin ETF Approval Prospects Spark Crypto Market Anticipation https://twitter.com/LunaClassicLabs/status/1729805907242922029 Diversification of Trading Pairs BLUR/FDUSD Trading Pair: The inclusion of the BLUR/FDUSD trading pair expands the range of...
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USTC’s $1 Price Target: Unraveling the Debate and ChatGPT’s Insight
29Nov By CryptolifedigitalNo Comments
Terra Classic (LUNC)

USTC’s $1 Price Target: Unraveling the Debate and ChatGPT’s Insight

The price trajectory of TerraClassicUSD (USTC), an algorithmic stablecoin, has become a focal point of discussion within the crypto community, sparking debates and speculation among enthusiasts and analysts. The prevalent belief centres around the potential for USTC to reach $1, representing a considerable spike of approximately 2,190% from its current value of around $0.04365. While the idea might seem ambitious, USTC's all-time high (ATH) of $1.09, according to CoinGecko, lends some credibility to this speculation. Read Also: Shiba Inu Unveils Major Updates: Shib Magazine, Massive NFT Giveaway, and Insights into the Next Bull Run Analyzing the USTC $1 Price Target Historical Performance: USTC's ATH of $1.09 suggests that the speculated $1 price target is not entirely imp...
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Significant Increase in Burns: LUNC, USTC, and LUNA Tokens Experience Substantial Supply Reduction
6Nov By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Significant Increase in Burns: LUNC, USTC, and LUNA Tokens Experience Substantial Supply Reduction

In a recent development in the cryptocurrency market, a notable surge in token burns has been observed over the past 10 hours. The proof of this increase has been highlighted in a tweet by Mistik, shedding light on the specific tokens that have undergone substantial supply reductions. Let's delve into the details: Tokens Affected LUNC USTC LUNA Total Supply Before Burns: 6,831,161,111,283 Change in Supply (Burned): -9,425,844 ($613) Circulating Supply Before Burns: 6,828,916,428,158 Change in Circulating Supply (Burned): -9,903,081 ($644) https://twitter.com/imparatorssss/status/1721222067809378567 These numbers indicate a significant reduction in the supply of these tokens, with substantial amounts being burned in a relatively short period. Token burns typica...
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Terra Luna Classic (LUNC) Sees Price Fluctuations Amid Ongoing Token Burns and Community Initiatives
4Nov By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Terra Luna Classic (LUNC) Sees Price Fluctuations Amid Ongoing Token Burns and Community Initiatives

Terra Luna Classic (LUNC) and its counterpart USTC experience significant price shifts, as Binance executes its 15th token burn, reflecting the community's commitment to reducing the circulating supply. In the past 72 hours, Terra Luna Classic (LUNC) has undergone noteworthy price fluctuations. LUNC is currently trading at $0.000062, representing a 5% decrease from its recent value. Over the same period, USTC has also seen a price shift, now standing at $0.011, marking a 4% drop. Despite these price movements, USTC's trading volume has experienced a slight increase. Terra Luna Classic's Position Terra Classic currently holds the 94th position in the cryptocurrency market with a market capitalization of approximately $375 million. There are nearly 5.7 trillion LUNC coins in circulation...
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