Terra Luna Classic Burns Billions of Tokens: Will Prices Surge?

The Terra Luna Classic (LUNC) community recently burned 1 billion USTC and 275 billion LUNC tokens as part of its recovery plan. This move followed the approval of proposal 12135, which burned 726 million USTC from Anchor Protocol, aiming to boost token prices.

The community hopes that increasing the burn tax from 0.4% to 1.5% will accelerate burns and fund staking rewards. While LUNC saw a modest price increase of 0.64% after the burn, market pressures persist. Despite mixed responses to recent proposals, the community remains optimistic about a potential price rally.

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