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Terra Luna Classic Staking Surges To 15% With Over 1T LUNC Staked
The Terra Classic Foundation revealed on X that the staking ratio for Terra Classic (LUNC) has now surpassed 15%, with over 1 trillion tokens staked. This milestone coincides with substantial LUNC token burns by Binance, further boosting optimism about the crypto’s performance.
Terra Luna Classic Staking Ratio Surges
According to the latest data from Terra Classic Foundation, over 1.017 trillion LUNC has been staked on the network. At the current price, this Terra Luna Classic staked reserve is valued at $70.15 million. Moreover, the staking ratio has now surged to a high of 15.01% from 14.83% a few days ago.
Earlier, on July 1, Binance, the world’s largest cryptocurrency exchange, burned 1.7 billion LUNC tokens. This marked the 23rd batch of the LUNC burn mechanism. Moreover, Binance has now burned nearly 62 billion LUNC tokens to date. The total LUNC tokens burned by the Terra Luna Classic community have exceeded 125 billion.
In addition, Binance’s continuous support for the Terra Luna Classic revival since 2022 is noteworthy. The exchange’s monthly LUNC burn mechanism significantly contributes to reducing the overall supply. The 23rd burn batch covered the period from May 31 to June 29. It burned a substantial amount of trading fees. Furthermore, Binance alone accounts for over 50% of the total $LUNC burned by the community.
Also, the increase in the staking ratio can positively influence the #TerraLunaClassic price. Higher staking ratios often indicate strong community confidence and reduced available supply for trading. This can lead to decreased selling pressure and potential price appreciation.
Staking locks up #tokens , reducing the circulating supply. With fewer tokens available for trading, demand can push the #LUNC✅ price higher. Additionally, increased staking #signals long-term commitment from holders, which can attract more investors.
