🚨Why Terra Luna Classic (LUNC), USTC Prices Crashed Amid Massive 6.5 Bln LUNC Burn
In the last 24 hours, Terra Luna Classic has seen significant developments impacting the community. Over 6.5 billion LUNC tokens were burned following announcements from Terraform Labs CEO Chris Amani. This move, aimed at reducing supply and increasing community pool holdings, has sparked intense trading activity.
🔥 **Key Highlights:**
- **Token Burn:** Terraform Labs initiated a substantial burn of LUNC and USTC tokens from their wallets, totaling over 6.5 billion LUNC tokens.
- **Market Impact:** This led to a sharp decline in LUNC's total and circulating supply, accompanied by a surge in trading volumes, which rose by over 600%.
- **Price Movement:** LUNC experienced a significant price drop of over 19%, currently trading at $0.00007486, with fluctuations indicating active trader interest.
- **Community Response:** Despite the sell-off, confidence remains high among Terra Luna Classic members, buoyed by upcoming developments like Tax2Gas implementation.
🌍 As the situation evolves, we continue to monitor market dynamics closely. Stay tuned for more updates and join the conversation on the future of Terra Luna Classic!
