🔥 𝗘𝘅𝗰𝗶𝘁𝗶𝗻𝗴 𝗡𝗲𝘄𝘀 𝗶𝗻 𝗧𝗲𝗿𝗿𝗮 𝗖𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 🔥

Last week witnessed a massive burn of 700 million LUNC and 230,000 USTC tokens, a move expected to bolster the crypto values! 🚀

📊 LUNCMetrics data supports this burn initiative, showcasing its impact on the Terra ecosystem. Since the May 13, 2022, LUNA collapse, a whopping 94.31 billion LUNC and 1.50 billion USTC tokens have been burnt and destroyed. 🔥💔

🗳️ The community engaged in a critical vote to burn 800 million USTC tokens, yet the proposal faced rejection due to legal concerns. Nonetheless, Terra's resilience shines through, with ongoing efforts to enhance the ecosystem.

💡 A potential game-changer: The proposal to make Terra's blockchain Ethereum Virtual Machine (EVM) compatible was explored. While this move could inject more funds into the system, concerns about resource allocation led to a veto by some validators. 🔄💻

⚠️ A recent setback hit the Terra community as Terraform Labs filed for bankruptcy, causing a dip in LUNC and UST values. Legal issues emerged as the court deemed LUNA and TerraUSD unregistered securities.

💸 The bankruptcy proceedings may see Terraform Labs selling LUNC and USTC, impacting their prices. The community faces challenges, but Terra's commitment to revival remains steadfast!🌐💪

$LUNC $USTC