⚠️Terra Luna Classic (LUNC) and USTC removed by Luna Foundation Guard
The Terra Luna Classic ecosystem saw a massive surge in token prices on Saturday as Luna Foundation Guard removed 1.85 billion USTC and 222 million LUNC tokens from its circulating supply. LUNC prices surged more than 10% in a matter of hours, and USTC prices rose 18%, but soon fell back.
🔸 Luna Foundation Guard's LUNC and USTC circulating supply
Luna Foundation Guard's wallet address *******szx3nw removed 1.85 billion USTC and 222 million LUNC tokens. The move was made because the account had been idle for nearly 2 years.
As a result, USTC's circulating supply has now dropped to 7.1 billion. Crypto assets held by the team, foundation, treasury, and custody funds are not counted in the circulating supply. According to CoinMarketCap, "Assets locked by smart contracts or legal contracts, allocated to insiders (such as the team or private investors), or unsellable on the open market are generally not considered assets in circulation, regardless of whether they have been unlocked."
These figures reflect adjustments, not actual removals from circulation. Some LFG funds were incorrectly counted in the circulating supply.
🔸 LUNC and USTC prices surge
As supply decreases, the prices of LUNC and USTC surged due to a buying frenzy within the community. But as the community learned about the situation, the prices began to fall back.
The Terra Luna Classic community sought to burn USTC and LUNC in the LFG wallet to reflect the total supply, but this is only an adjustment, not an actual removal from circulation.
The LUNC price has risen 4% in the past 24 hours and is currently trading at 0.0001062. The 24-hour high and low prices were $0.0001020 and $0.0001129, respectively.
At the same time, the USTC price has also risen by 7% in the past 24 hours, and the current trading price is 0.0235. The 24-hour minimum and maximum prices are 0.0215 and $0.0251 respectively. In addition, the trading volume in the past 24 hours has increased by 118%.
Recently, I am also ambushing a currency that is about to explode, with a short-term return of 30% and a long-term return of about 5-8 times.
Again, if you take the initiative to find me, I will take you ashore, and you just lie down.