Terra Classic (LUNC), often humorously referred to as "Lunch Coin," is the original native token of the Terra blockchain. Here are some key details about Terra Classic (LUNC):
- **Purpose**: LUNC was designed to absorb the price deviation of the algorithmic stablecoin UST, which was pegged to the US dollar. This was achieved by minting and burning UST tokens to balance supply and demand⁴.
- **History**: Terra Classic is the original chain of the Terra protocol, which began development in January 2018 and launched its mainnet in April 2019⁵.
- **Revival Plan**: After the collapse of UST in May 2022, a revival plan was implemented, resulting in the creation of a new chain called Terra (LUNA), while the original chain was rebranded as Terra Classic¹.
- **Market Performance**: As of the latest data, LUNC's price is around $0.000143, with a market cap of approximately $826 million. It reached an all-time high of $119.18 in April 2022 and an all-time low of $0.00000005 in May 2022¹²³.
Please note that the cryptocurrency market is highly volatile, and investing in it carries risks. It's important to conduct your own research or consult with a financial advisor before making any investment decisions. The information provided here is not investment advice.
Source: Conversation with Bing, 3/4/2024
(1) What is Terra Classic (LUNC)? Definition, History, and Working. https://www.thecoinrepublic.com/2023/11/11/what-is-terra-classic-lunc-definition-history-and-working/.
(2) LUNC Price| Index, Live Chart | Terra Classic on CoinEx. https://www.coinex.com/en/info/LUNC.
(3) Terra Classic price today, LUNC to USD live price, marketcap and chart .... https://coinmarketcap.com/currencies/terra-luna/.
(4) Terra Luna Classic Price: LUNC Live Price Chart & News - CoinGecko. https://www.coingecko.com/en/coins/terra-luna-classic.
(5) Terra Luna Classic price | index, chart and news | WorldCoinIndex. https://www.worldcoinindex.com/coin/terra-luna-classic.
(6) undefined. https://classicterra.money/api/v1/csupply.
#LUNC\USDT
