$LUNC

$LUNC

LUNC Price To Hit $0.0001 In July?

LUNC price dropped over 1% in the past 24 hours, with the price currently trading at $0.00008196. The 24-hour low and high are $0.00008050 and $0.00008366, respectively. However, trading volume has decreased further by 21% in the last 24 hours.

Binance LUNC burn, Terraform Labs’ LUNC and USTC burn, and Tax2Gas implementation in July to provide the necessary push in LUNC price, with the community expecting a recovery above $0.0001.

Meanwhile, USTC price trades at $0.01783, down 1.5% in the last 24 hours. The 24-hour low and high are $0.01755 and $0.01802, respectively. Trading volume has decreased by 12%, indicating a dip in interest among traders.

In the derivatives market, LUNC and 1000LUNC futures open interests have fell in the last 24 hours. Traders now awaiting the monthly close and further cues from macro for trading in July.

$LUNC

Terra Luna Classic To Remove 18 Billion LUNC From Supply, Will LUNC And USTC Rally?

Terra Luna Classic community to burn 12 billion in LUNC and 68 million USTC in contracts including Lido DAO rewards dispatcher, removing them completely from supply. The move comes as the community started removing LUNC and USTC from circulating circulating supply for revival and repeg to $1.

Terra Luna Classic 12 billion LUNC Burn
The Terra Luna Classic community takes out 12 billion in LUNC and 68 million USTC from circulation. It is the second largest removal from the circulating supply after the recent 7 billion LUNC burned in burn tax that saw 8.34 billion total fees accrued in a single day.

The massive 12 billion LUNC will be burned from Anchor bLuna rewards and Lido rewards dispatcher contracts, as per a proposal. Also, the changes are live on the CoinMarketCap and CoinGecko. Since the contract owner has invalidated itself, the Terra Luna Classic community now owns the contracts.

“These funds are locked since Lido DAO passed a proposal on June 22, 2022 to make all Lido contracts on Terra Classic non upgradable and make their ownership invalid,” revealed an X account named Terra Classic Foundation.

The governance voting on the proposed burn to begin soon to get the community’s approval on burning these funds. Terra Luna Classic developers also remove other LUNC and USTC from circulation that will be burned over time. The community removed 93 million LUNC and 87 million USTC in the Terra Shuttle Bridge (BSC) contract from the circulating supply.

$LUNC

Breaking: Binance Burns 1.7 Billion Terra Luna Classic (LUNC), What’s Ahead?

Binance has burned 1.7 billion Terra Luna Classic (LUNC) tokens in the latest transaction to burn wallet on Monday. After the 23rd batch of the LUNC burn mechanism, Binance has burned nearly 62 billion LUNC to date.

Moreover, the total LUNC tokens burned by the Terra Luna Classic community has reached over 125 billion. Binance has continued supporting the community for Terra Luna Classic revival since 2022 via its monthly LUNC burn mechanism.

Binance Incinerates 1.7 Billion LUNC

The Terra Luna Classic community saw 1.7 billion Terra Luna Classic (LUNC) tokens burned by crypto exchange Binance, as per the burn transaction on July 1. The burn transaction also recorded 8.5 million LUNC in tax. Tax2Gas implementation expected this month will likely boost the burn narrative.

The 23rd batch of the LUNC burn mechanism Binance burned a significant amount of trading fees for the period between May 31 to June 29. Binance has now burned nearly 61.99 billion Terra Luna Classic (LUNC) tokens from trading fees on LUNC spot and margin trading pairs.

As a result of the latest burn by Binance, the net burn by the Terra Luna Classic community has now surpassed 125 billion LUNC. Binance accounts for over 50% of the total LUNC burned since the community took control of the chain. The reason behind the low burn amount in contrast to the community is due to fewer transactions.

In the 22nd LUNC burn mechanism, Binance burned 1.35 billion Terra Luna Classic (LUNC) tokens. The exchange burned 1.35 billion in trading fees on LUNC spot and margin trading pairs worth $170,104.

$LUNC

Will Terra Luna Reach $0.00017?

Similar to the Terra Classic price chart, the LUNA price trend shows a similar downtrend with a strong resistance trendline at play. Mimicking a similar rising channel breakdown, the Terra (LUNA) price drops by 40% in two weeks.

With the breakdown rally taking support at the $0.000070 mark with lower price rejections, the altcoin teases a comeback. Further, the overnight jump teases a bullish crossover in the MACD indicator while the RSI line takes off from the oversold boundary.

If the reversal rally sustains momentum, the uptrend in the Terra token price can challenge the overhead trendline at $0.00012. However, the resistances at $0.00010 and $0.00011 can result in some hiccups along the way.

$LUNC dream come true 😍

Can Terra Classic Rise From The Ashes? Analyst Foresees 1,500% Price Increase

Terra Classic (LUNC), the phoenix attempting to rise from the ashes of the infamous TerraUSD crash, is once again capturing investor attention. Coincodex analysts predict a modest 10.7% price increase by July 25th, while renowned crypto analyst Javon Marks throws a much bolder 1,500% surge into the ring. So, is LUNC poised for a bullish breakout, or is this just another mirage in the volatile crypto desert?

A Token Reborn: LUNC Capitalizes On Market Volatility
LUNC, once the backbone of the collapsed TerraUSD (USTC) stablecoin ecosystem, has defied expectations. While USTC lost its peg to the US dollar and spiraled into oblivion, LUNC has exhibited surprising resilience.

The past 24 hours saw an 82% price jump, showcasing continued investor interest in the controversial token. This resilience coincides with a broader market trend where investors, wary of traditional assets, are seeking refuge in digital currencies perceived as having strong recovery potential.

$LUNC

LUNC and USTC Price Performance

The Terra Luna Classic community has not yet accounted LUNC and USTC burn from Terraform Labs and Luna Foundation Guard wallets. Terraform Labs CEO Chris Amani confirmed to the Terra Classic community that LUNC and USTC in the TFL and LFG wallets will be burned.

The community will also implement Tax2Gas with the potential to increase LUNC burn massively in the coming months. It is expected to be completed by July.

Terra Classic price trading mostly sideways in the last 24 hours, with the price currently trading at $0.00008137. The 24-hour low and high are $0.000081 and $0.000083, respectively. Moreover, trading volume has decreased by 53% in the last 24 hours, indicating a lack of interest among traders.

The burn events are going to bring enough trading volumes and upside price action, with a breakout above $0.000090 confirming further uprise move.

Meanwhile, USTC price also fell over 0.62% as trading volumes dipped by 40% in the last 24 hours. The 24-hour low and high are $0.01758 and 0.01815, respectively.

$LUNC

LUNC Community’s Ongoing Efforts

Earlier, CNF reported that the total LUNC burned has surpassed 113.71 billion. This latest burn by Binance means that the total LUNC tokens burned by the Terra Luna Classic community has now gone past the 113.71 billion mark. Of this total, Binance users contributed a large share, responsible for about 51.9% of the overall tokens that have been burned by the community.

The continued burning of the token supply by the exchange aligns with the goal of fostering the development and stability of Terra Luna Classic. At the time of writing, Terra (LUNA) is priced at $0.4268, reflecting an increase of 4.41% in the past day and 3.01% in the past week. See the price chart of LUNA below.

The community’s decision underscores a cautious approach towards enhancing network decentralization, ensuring the readiness and stability of Terra Luna Classic.

$LUNC $1

Recent Terra Classic Mega Burn: Impact On LUNC Price

Terra Classic (LUNC) has experienced a substantial burn of over 6 billion LUNC tokens, following major sell-offs by large investors. This activity arose after Terraform Labs CEO Chris Amani confirmed the impending burn of LUNC and USTC from TFL and LFG wallets.

In the past 48 hours, the LUNC burn count has exceeded 6.5 billion, driven by large wallets selling LUNC and significant movements on centralized exchanges. Following a massive 5 billion token burn shared on X by Mr. Diamondhandz1, more burns followed, raising the total to over 6.5 billion.

This has driven the 7-day burn metric shown on Luncmetrics to an astonishing 6.93 billion tokens, resulting in a notable decrease in supply, while the community pool has seen an increase.

LUNC trading volumes have surged by more than 600% within 24 hours, reflecting heightened trading activity. This spike follows CEO Chris Amani’s assurance to the Terra Classic community that LUNC and USTC in TFL and LFG wallets would be burned. Amani also committed to blacklisting and burning wallets holding LUNC and USTC if the firm cannot access them.

The latest burn has brought the total LUNC burned to over 123.5 billion, with Binance leading the effort, having burned 60.42 billion LUNC (48.9% of total burns) through its monthly burn mechanism.

#lunac #lunaclasic

🌖 LUNC and USTC Prices Jump Defying Market Sentiment

Terra Classic ecosystem tokens gained upside momentum amid a rearrangement of LUNC positions after BtcTurk crypto exchange delisted LUNC after the hack. LUNC futures open interest rises 24% in the last 4 hours.

LUNC price soars more than 10% in 24 hours. The price currently trades at $0.00008246, with a 24-hour low and high of $0.00007255 and $0.00008257, respectively. Moreover, trading volume has increased by 50% in the last 24 hours.

Meanwhile, USTC price also jumped more than 5%, with the price currently changing hands at $0.0181. The 24-hour trading volume saw a rise of 136%. USTC futures open interest also rise over 21% in the past few hours, implying a possible reversal.

🌖 LUNC and USTC Prices Jump Defying Market Sentiment

Terra Classic ecosystem tokens gained upside momentum amid a rearrangement of LUNC positions after BtcTurk crypto exchange delisted LUNC after the hack. LUNC futures open interest rises 24% in the last 4 hours.

LUNC price soars more than 10% in 24 hours. The price currently trades at $0.00008246, with a 24-hour low and high of $0.00007255 and $0.00008257, respectively. Moreover, trading volume has increased by 50% in the last 24 hours.

Meanwhile, USTC price also jumped more than 5%, with the price currently changing hands at $0.0181. The 24-hour trading volume saw a rise of 136%. USTC futures open interest also rise over 21% in the past few hours, implying a possible reversal.

$LUNC

🌖 LUNC News: Terra Classic And LUNA’s Initial Merger Effort Faces Major Roadblock

LUNC News: The Terra Luna Classic community rejected a highly debated proposal to increase the validators set to 130 on the blockchain. The move comes after Terraform Labs and Do Kwon agreed to settle with the U.S. SEC for $4.5 billion. Some saw the proposal as an initial merge effort with Terra (LUNA) community by bringing Luna v2 validators to Terra Classic after the TFL and SEC settlement, bolstering the network’s decentralization.

Terra Luna Classic Rejects Proposal
The Terra Luna Classic community is currently reluctant to increase the validator limit to 130 from 100, as they look to welcome back validators from Terra Luna v2 after Terraform Labs and the U.S. SEC settlement. Proposal 12116 “Increase Validator Active Set to 130” failed to reach pass threshold in the governance voting.

The proposal received a mere 30.59% “Yes” votes. Notably, 46.17% “No” and 22.59% “Abstain” votes took down the LUNC proposal after denial by top delegates and validators. Among 46 validators who voted, only 10 such as Allnodes, Luna Station 88, LuncGoblins, Austism Staking, and others voted against the proposal.

Allnodes stated the chain is not currently ready for it, stating “The amount of LUNC required to get into the active set is not burdensome.”

Proposer suggested that expanding the validator set to 13o will strengthen Terra Classic network’s decentralization and benefit the LUNC community.

$LUNC

LUNC and USTC Prices To Rally After Big Burn

Terra Classic community anticipates a massive rally in LUNC and USTC prices after the big burn. However, the burn isn’t likely to bring any significant price action.

LUNC price continues to move sideways, with the price currently trading at $0.00009102. The 24-hour low and high are $0.00008956 and $0.00009237, respectively. Moreover, trading volume has decreased by 13% in the last 24 hours, indicating a lack of interest among traders in this downturn.

Meanwhile, USTC price saw some signs of recovery as the community plans for the burn. The price is currently changing hands at $0.01864. The trading volume has dropped by 15%.

$LUNC

LUNC and USTC Pares Recent Gains

LUNC and USTC prices are back to 2-month lows. If the LUNC support level at $0.000090 is broken again, bears can take over.

LUNC price slid over 4% in the last 24 hours, with the price currently trading at $0.0009051. The 24-hour low and high are $0.00008112 and $0.00009757, respectively. Moreover, trading volume decreased further by 7% in the last 24 hours, but good terms of Binance LUNC burn mechanism.

Meanwhile, USTC price also dropped 5%, with the price now trading at $0.0184. The 24-hour trading volume saw a mere 2% decline in the last 24 hours as traders bought the dip.

$LUNC #Big_Bank

Terra Luna Classic (LUNC) Burn Tax Change Proposal Officially Passed

The Terra Luna Classic community has passed a key proposal to implement a revised LUNC burn tax distribution. This pay-per-job (PPJ) proposal gets over 98% support from community members and validators on moving ahead with changes as per proposal 12098 passed earlier by the Terra Classic community in previous months. It is expected to be implemented in mid-July.

Terra Classic Community To Revise Burn Tax Distribution
A pay-per-job proposal 12114 by popular developer Till Z., known as Fragwuerdig, was passed by the Terra Luna Classic community. The developer has started working to implement the burn tax distribution change related to the oracle pool split as set in proposal 12098.

The proposal received 98.04% “Yes” votes, which indicates the proposal saw major support from validators. Among 47 validators who participated in the governance voting, top validators such as Allnodes, Interstellar Lounge, JESUSisLORD, Stakely, HappyCattyCrypto support the proposal.

As earlier reported, Terra Classic has a burn tax set to 0.5%. Out of this, 80% is for burn and 20% is distributed as — 10% to Community Pool and 10% to rewards. As per 12098, the 20% will be distributed as 10% to Community Pool and 10% to Oracle pool.

This will impact immediate block rewards for LUNC users. Instead, the portion from the burn tax would go into long-term staking rewards (Oracle) to improve LUNC staking. In addition, it will help validators, but decrease the APR by about ~0.5% depending upon on-chain volumes.

#lunaclasic

LUNC and USTC Prices Hitting Resistance

Terra Classic ecosystem tokens hitting resistance levels to gain upside momentum, but fail to break the levels amid uncertainty in the crypto market.

LUNC price jumped 2% in the last 24 hours but gave up most gains once again. The price currently trades at $0.00009079, with a 24-hour low and high of $0.00008877 and $0.00009432, respectively. Moreover, trading volume decreased by 45% in the last 24 hours, indicating a lack of interest among traders.

Futures traders are mainly moving LUNC prices, as per CoinGlass data. The total LUNC futures open interest jumped over 4% in the last 24 hours, but traders sold LUNC in the last few hours.

Meanwhile, USTC price also fell more than 1%, with the price currently changing hands at $0.01847. The 24-hour trading volume saw a 63% drop in the last 24 hours as traders failed to hold the recovery. USTC hit a 24-hour high of $0.01972.

$LUNC $1

LUNC News: Terra Classic Highly Debated Proposal After TFL And SEC Settlement

LUNC News: The Terra Luna Classic community started voting again on a highly debated proposal to increase the validators set on the blockchain. The move comes after Terraform Labs and Do Kwon agreed to settle with the U.S. SEC for $4.5 billion. The proposal aims to bring Luna v2 validators to Terra Classic after the TFL and SEC settlement, bolstering the network’s decentralization and benefiting the LUNC community.

Terra Luna Classic Validator Set Boost Proposal
Proposal 12116 “Increase Validator Active Set to 130” is currently undergoing governance voting on the Station wallet. If passed, the Terra Lunc Classic community will increase the validator limit to 130 from the current 100, as they look to welcome back validators from Terra Luna v2 after Terraform Labs and the U.S. SEC settlement.

Expanding the validator set to 13o will strengthen Terra Classic network’s decentralization and benefit the LUNC community.

At press time, the proposal has received 38.04% “Yes votes” after top validator Allnodes voted “No” citing “The amount of LUNC required to get into the active set is not burdensome.” Nevertheless, the proposal received 93.43% votes from delegates, indicating major support from the community.

Among validators, 16 voted in favor of the proposal while five voted “No”, one “No with veto” and four “Abstain” votes. Vegas Node, Jesusislord, Nitawa, SolidVote, Hexxagon and other validators voted in favor of the proposal.

#lunac #lunaclasic $1

Burn Activity and Market Sentiment
LUNC continues to experience significant burns, as detailed in the latest metrics from the community’s tracking dashboard. Today’s burn rate reached 15.79 million LUNC, which indicates robust daily burn activity.

Over the past week, the cumulative burn totaled 299 million LUNC, averaging approximately 42 million LUNC daily. The 30-day metrics are even more impressive, showing a massive 3 billion LUNC burned, averaging about 105 million LUNC daily. These figures highlight the community’s ongoing efforts to reduce the token’s supply, aiming to increase its scarcity and potential value.

Technical Indicators and Future Outlook

Terra Classic might soon regain its upward trajectory with the current market volatility. If bullish momentum drives the price beyond $0.000092, LUNC price could explore higher resistance at $0.0001. This escalation might even push the digital asset to achieve a value of $0.001.

Conversely, increased market doubts could force a pullback to the $0.000091 support. If the bearish trend persists, prices might drop further to $0.00009. Such a scenario would spell additional hurdles for Terra Classic’s recovery prospects.

The technical indicators for LUNC on the daily chart suggest mixed signals in recent trading sessions. The Moving Average Convergence Divergence (MACD) shows a bearish crossover, with the MACD line (blue) trending below the signal line (orange).

The Chaikin Money Flow (CMF) is above the zero line, which suggests that buying pressure still exists.

Terra Classic Price Prediction|

The Average Directional Index (ADX) reading is at 26, indicating a relatively strong trend. The Relative Strength Index (RSI) stands at 36, hinting that the asset is approaching, but not yet in, the oversold territory.

#lunac #lunaclasic

Terra Classic To Implement Burn Tax Into Gas Fees

Proposal 12115 “Genuine Labs Tax2Gas Implementation” has passed in governance voting on Station wallet. The proposal by Genuine Labs aims to proceed with incorporating tax into the gas. The team will also work on increasing chain security by preventing attack vectors using e2e-test.

The proposal received 74.91% “Yes” and 25.03% “Abstain” votes. This indicates some community members were reluctant to accept the Tax2Gas implementation. Most validators who participated have voted in favor of the proposal. It received support from validators such as Interstellar Lounge, JESUSisLORD, Stakely, HappyCattyCrypto, StakeBin, and others.

However, top Terra Luna Classic validator Allnodes voted “Abstain” and warned the community about the low level of discussions.

“We are abstaining as we acknowledge the community sentiment. It is important to note that we are not satisfied with the public communication and will consider voting NO on further proposals if we do not see an improvement.”

As CoinGape reported earlier, Tax2Gas proposal is game-changing as it will resolve issues including contract developers’ need to calculate the burn tax manually. The issues are — clients or dApps have to calculate the tax themselves as the simulation endpoint only provides gas estimates. Migrating audited dApps becomes cumbersome due to these Classic-specific adjustments, leading to potential re-audits.

Genuine Labs developers require 5 weeks for research, development, and basic testing and deployment. The estimated total budget is $25,000 in LUNC.

$LUNC

Terra Luna Classic Approves Major Tax2Gas Proposal, LUNC Price To $1LUNC News: Terra Luna Classic community has finally passed the proposal to implement Tax2Gas, which removes the need for separating handling and calculation of tax. Tax2Gas will incorporate the tax into the gas and decrease complexities for dApp developers and others, as stated by developers StrathCole and Genuine Labs.With Tax2Gas almost near implementation, the Terra Classic community members started discussions on raising the burn tax to 1.2%. Once it’s implemented, all crypto exchanges will burn on buy and sell and drive LUNC price higher.