TerraClassic
3.5M visualizações
333 Publicações
Popular
Mais recente
Terra Classic Community Vetoes Burn Tax Proposal | Binance Charity Support Falters 🚀
In a dramatic turn of events, the Terra Classic community has decisively vetoed Proposal 12111, a significant measure aimed at modifying the burn tax and enhancing charity contributions through Binance. The proposal, introduced on May 27, faced a resounding rejection as preliminary votes indicated a strong opposition, with most votes split between ‘No’ and ‘No with veto’.
Proposal 12111: The Details
Proposal 12111 sought to revise the burn tax rate to 1.2%, with a strategic allocation of the collected funds: 70% for immediate burning, 10% to the community pool, and another 10% directed towards charity via Binance Charity in collaboration with the Superhumans Foundation, specifically for Ukrainian war victims. This proposal aimed to balance Terra Classic's economic dynamics while boosting charitable activities.
Voting Results So Far
As the voting period approaches its final three days, the Terra Classic community has cast 566.00 billion out of 992.43 billion possible votes. The preliminary figures show a mere 1.21% in favor of the proposal, contrasted sharply by 36.27% voting 'No' and a significant 45.93% opting for 'No with veto'.
Parallel Proposal 12105
This strong opposition mirrors the fate of Proposal 12105, which sought to increase the burn tax to 1.5%. It was similarly rejected, garnering only 21.35% support, criticized for its lack of detailed planning and execution strategy.
Bright Spot: Software Upgrade Proposal 12110
Amidst these contentious tax proposals, Proposal 12110 has received overwhelming support from the community. This software upgrade proposal from Genuine Labs, scheduled for June 2, promises substantial improvements in the chain’s functionality, including SDK v0.47 and other major updates. Garnering 99.9% approval, it stands in stark contrast to the rejected tax proposals.
Market Reactions: LUNC and USTC Trends
In the wake of these votes, Terra Classic (LUNC) has experienced a bearish trend, failing to break resistance at $0.0001252 and dropping to $0.0001184, a 4.55% decline. Support at $0.0001171 has held steady during this dip. Similarly, TerraClassicUSD (USTC) has seen a downward trend, with prices fluctuating between $0.02511 and $0.02332 over the past 24 hours, currently trading at $0.02379, a 3% drop from its intra-day high.
As the Terra Classic community navigates these pivotal decisions, the outcomes of these proposals could significantly shape the future trajectory of the network, both economically and socially. Stay tuned as the final votes roll in and the community’s direction becomes clear.
#TerraClassic
#Lunc2TheMoonSoon $USDC
Proposal 12111: The Details
Proposal 12111 sought to revise the burn tax rate to 1.2%, with a strategic allocation of the collected funds: 70% for immediate burning, 10% to the community pool, and another 10% directed towards charity via Binance Charity in collaboration with the Superhumans Foundation, specifically for Ukrainian war victims. This proposal aimed to balance Terra Classic's economic dynamics while boosting charitable activities.
Voting Results So Far
As the voting period approaches its final three days, the Terra Classic community has cast 566.00 billion out of 992.43 billion possible votes. The preliminary figures show a mere 1.21% in favor of the proposal, contrasted sharply by 36.27% voting 'No' and a significant 45.93% opting for 'No with veto'.
Parallel Proposal 12105
This strong opposition mirrors the fate of Proposal 12105, which sought to increase the burn tax to 1.5%. It was similarly rejected, garnering only 21.35% support, criticized for its lack of detailed planning and execution strategy.
Bright Spot: Software Upgrade Proposal 12110
Amidst these contentious tax proposals, Proposal 12110 has received overwhelming support from the community. This software upgrade proposal from Genuine Labs, scheduled for June 2, promises substantial improvements in the chain’s functionality, including SDK v0.47 and other major updates. Garnering 99.9% approval, it stands in stark contrast to the rejected tax proposals.
Market Reactions: LUNC and USTC Trends
In the wake of these votes, Terra Classic (LUNC) has experienced a bearish trend, failing to break resistance at $0.0001252 and dropping to $0.0001184, a 4.55% decline. Support at $0.0001171 has held steady during this dip. Similarly, TerraClassicUSD (USTC) has seen a downward trend, with prices fluctuating between $0.02511 and $0.02332 over the past 24 hours, currently trading at $0.02379, a 3% drop from its intra-day high.
As the Terra Classic community navigates these pivotal decisions, the outcomes of these proposals could significantly shape the future trajectory of the network, both economically and socially. Stay tuned as the final votes roll in and the community’s direction becomes clear.
#TerraClassic
#Lunc2TheMoonSoon $USDC
Predicted Terra Classic (LUNC) Price for 30 June 2024
Terra Classic (LUNC), currently trading at $0.0001185, has seen a slight decrease of 2.97% in the last 24 hours. Looking ahead to June, predictions from ChatGPT suggest a bullish trend for LUNC.
The AI forecasts a potential 110.9% increase in LUNC’s price, projecting it to reach $0.00025 by June 30, 2024.
Factors Affecting Terra Classic (LUNC) Price Prediction
The recent prediction for Terra Classic (LUNC) to reach $0.00021439 highlights several significant factors. Firstly, the projected increase signals a potential surge in investor interest and overall market sentiment towards LUNC. This swift potential price movement could be impactful given the short timeframe involved.
However, it’s crucial to note that predictions like these are not financial advice, as highlighted by ChatGPT. The cryptocurrency market’s volatility can lead to unexpected price fluctuations, influenced by numerous factors. One major determinant is market sentiment, which plays a pivotal role in shaping LUNC’s trajectory. Positive sentiment often triggers buying trends, driving prices higher, while negative sentiment can lead to sell-offs and price declines.
Additionally, regulatory changes pose another potential influence. With the upcoming U.S. presidential election, the landscape for cryptocurrency regulation could shift, impacting market dynamics in the coming weeks or months.
Moreover, adoption remains critical for LUNC’s success. Increased utility of LUNC in real-world applications such as payments or decentralized applications (dApps) can boost demand and potentially drive price appreciation. Conversely, a lack of adoption or declining usage could dampen investor confidence and lead to price declines. These factors collectively underscore the complex interplay of influences on cryptocurrency prices like LUNC.
Upcoming Upgrades and Investor Interest in Terra Classic (LUNC)
The developers and community behind Terra Classic (LUNC) are actively implementing new upgrades aimed at bolstering the ecosystem’s recovery. A recent announcement of an imminent crucial upgrade has sparked investor interest, leading to a slight price uptick. This development suggests that the upcoming upgrade could play a pivotal role in revitalizing LUNC’s market performance.
In addition to these developments, ChatGPT’s prediction provides a potential gauge of investor confidence and the likelihood of a significant price surge in the upcoming month. Investors are closely monitoring these developments to see if LUNC can achieve ChatGPT’s projected target, reflecting heightened anticipation and market sentiment surrounding the cryptocurrency.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#TerraClassic #LUNC
The AI forecasts a potential 110.9% increase in LUNC’s price, projecting it to reach $0.00025 by June 30, 2024.
Factors Affecting Terra Classic (LUNC) Price Prediction
The recent prediction for Terra Classic (LUNC) to reach $0.00021439 highlights several significant factors. Firstly, the projected increase signals a potential surge in investor interest and overall market sentiment towards LUNC. This swift potential price movement could be impactful given the short timeframe involved.
However, it’s crucial to note that predictions like these are not financial advice, as highlighted by ChatGPT. The cryptocurrency market’s volatility can lead to unexpected price fluctuations, influenced by numerous factors. One major determinant is market sentiment, which plays a pivotal role in shaping LUNC’s trajectory. Positive sentiment often triggers buying trends, driving prices higher, while negative sentiment can lead to sell-offs and price declines.
Additionally, regulatory changes pose another potential influence. With the upcoming U.S. presidential election, the landscape for cryptocurrency regulation could shift, impacting market dynamics in the coming weeks or months.
Moreover, adoption remains critical for LUNC’s success. Increased utility of LUNC in real-world applications such as payments or decentralized applications (dApps) can boost demand and potentially drive price appreciation. Conversely, a lack of adoption or declining usage could dampen investor confidence and lead to price declines. These factors collectively underscore the complex interplay of influences on cryptocurrency prices like LUNC.
Upcoming Upgrades and Investor Interest in Terra Classic (LUNC)
The developers and community behind Terra Classic (LUNC) are actively implementing new upgrades aimed at bolstering the ecosystem’s recovery. A recent announcement of an imminent crucial upgrade has sparked investor interest, leading to a slight price uptick. This development suggests that the upcoming upgrade could play a pivotal role in revitalizing LUNC’s market performance.
In addition to these developments, ChatGPT’s prediction provides a potential gauge of investor confidence and the likelihood of a significant price surge in the upcoming month. Investors are closely monitoring these developments to see if LUNC can achieve ChatGPT’s projected target, reflecting heightened anticipation and market sentiment surrounding the cryptocurrency.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#TerraClassic #LUNC
Terra Classic: Is LUNC's Rising Channel Set to Ignite Market?
Terra ecosystem tokens experienced a significant price rally, following Terraform Labs and co-founder Do Kwon reaching a settlement in principle with the U.S. Securities and Exchange Commission (SEC).
The Terra Classic token is currently contending with the bearish-aligned 20 and 50 EMAs on the daily chart, following a recent death cross.The recovery rally is rebounding from the 78.60% Fibonacci level and is now challenging the 61.80% Fibonacci level.The rising channel indicates an underlying improvement in the trend.According to Coin Gabbar analysis, If supported by a broader market recovery, the Terra Classic (LUNC) price could reach the $0.00015 mark or the 50% Fibonacci level.Conversely, if the bulls fail to breach the upper boundary of the channel and the price breaches the lower boundary, it may drop to the $0.000080 level.
KEY LEVELS :
RESISTANCE LEVEL : $0.00015000-$0.00021000
SUPPORT LEVEL : $0.00008000-$0.00005000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
@Binance Research @Coingabbar Analysis @CZ @Binance Square Official #altcoins #BinanceLaunchpool #buythedip #LUNC✅ #TerraClassic $LUNC
The Terra Classic token is currently contending with the bearish-aligned 20 and 50 EMAs on the daily chart, following a recent death cross.The recovery rally is rebounding from the 78.60% Fibonacci level and is now challenging the 61.80% Fibonacci level.The rising channel indicates an underlying improvement in the trend.According to Coin Gabbar analysis, If supported by a broader market recovery, the Terra Classic (LUNC) price could reach the $0.00015 mark or the 50% Fibonacci level.Conversely, if the bulls fail to breach the upper boundary of the channel and the price breaches the lower boundary, it may drop to the $0.000080 level.
KEY LEVELS :
RESISTANCE LEVEL : $0.00015000-$0.00021000
SUPPORT LEVEL : $0.00008000-$0.00005000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
@Binance Research @Coingabbar Analysis @CZ @Binance Square Official #altcoins #BinanceLaunchpool #buythedip #LUNC✅ #TerraClassic $LUNC
🚨🚨 Terra's ($LUNC , $LUNA , $USTC ) Parent Company Terraform Labs and Do Kwon Accepted Settlement with SEC!
💈According to the latest information, Do Kwon, the founder of Terra (LUNA), and Terraform Labs have agreed to settle with the SEC.
💈Terraform Labs, based in Singapore, and its founder Do Kwon have reached a temporary agreement with the U.S. Securities and Exchange Commission (SEC).
As revealed in a recent court filing, the regulatory agency's lawsuit alleged that the company misled investors before the collapse of its stablecoin TerraUSD in 2022.
💈Do Kwon is currently detained in Montenegro. The Montenegrin High Court ruled in early April that the decision on extradition should be made by the justice minister, not the court. This decision came after plans to extradite Kwon to South Korea in March were met with opposition from Montenegro prosecutors.
💈Terraform Labs and Kwon were found guilty of civil fraud by a U.S. jury in a lawsuit initiated by the SEC in February 2023. The case centered around the algorithmic stablecoin Terra USD (UST), which dramatically collapsed a year earlier.
💈Kwon was arrested in Montenegro the previous March for traveling with forged travel documents.
#EarnFreeCrypto2024 #BinanceHerYerde #TerraClassic #LunaClassic
💈According to the latest information, Do Kwon, the founder of Terra (LUNA), and Terraform Labs have agreed to settle with the SEC.
💈Terraform Labs, based in Singapore, and its founder Do Kwon have reached a temporary agreement with the U.S. Securities and Exchange Commission (SEC).
As revealed in a recent court filing, the regulatory agency's lawsuit alleged that the company misled investors before the collapse of its stablecoin TerraUSD in 2022.
💈Do Kwon is currently detained in Montenegro. The Montenegrin High Court ruled in early April that the decision on extradition should be made by the justice minister, not the court. This decision came after plans to extradite Kwon to South Korea in March were met with opposition from Montenegro prosecutors.
💈Terraform Labs and Kwon were found guilty of civil fraud by a U.S. jury in a lawsuit initiated by the SEC in February 2023. The case centered around the algorithmic stablecoin Terra USD (UST), which dramatically collapsed a year earlier.
💈Kwon was arrested in Montenegro the previous March for traveling with forged travel documents.
#EarnFreeCrypto2024 #BinanceHerYerde #TerraClassic #LunaClassic
Major Upgrade Crucial for Terra Classic’s Future
Genuine Labs, a developer group for Terra Classic, recently announced they submitted a proposed upgrade to the Terra blockchain for governance voting. If approved, this upgrade could positively impact the Terra ecosystem and boost Terra Classic’s (LUNC) price.
The major upgrade involves implementing the v.3.0.1 software for the Terra chain. As part of this, Genuine Labs will integrate the latest version of the Cosmos Software Development Kit (SDK 47). LUNC validator Lunanauts explained that voting yes for this proposal is crucial because the upgrade is “essential for the stability and improvement of the Terra Classic network.”
Major Upgrade for Terra Classic: Key Details and Implications
The proposed v.3.0.1 software upgrade for the Terra chain aims to address several critical issues and enhance the network’s performance. One significant improvement is the resolution of the app hash error, a persistent problem in the current version of the Terra chain. This upgrade will ensure that nodes do not encounter app hash errors during WebAssembly (Wasm) transactions.
Additionally, the upgrade includes support for legacy contracts with WASMD 0.45.0, which could not be imported under previous versions. This change is expected to enhance network stability and performance.
The upgrade also aims to prevent peer-to-peer (p2p) storms by incorporating backporting changes. These p2p storms have caused significant disruptions and inefficiencies on the network. Furthermore, the upgrade will limit the meme and receiver length in the Inter-Blockchain Communication Protocol (IBC)-go for both v6 and v7, promoting better interoperability between Terra and other Cosmos chains.
If approved, the upgrade will be implemented by halting the chain for a software update at a block height of 18,303,000. Validators will need to replace the old binary with the new one. This chain halt is expected to occur around June 2, when the upgrade will likely take place.
The proposal includes necessary updates and pull requests to address any “breaking changes” during the upgrade, minimizing disruption and preserving Terra’s integrity.
Terra Classic Upgrade: A Catalyst for Investor Confidence and Potential Rally
The upcoming upgrade is expected to significantly boost investor confidence in the Terra Classic ecosystem, leading to increased adoption and demand for the LUNC token. The network’s reputation has suffered since the LUNA crash in 2022, but successful implementation of proposals like this can help restore its image in the broader crypto ecosystem.
Meanwhile, crypto analyst Javon Marks has suggested that Terra Classic’s price is well-positioned for a 1,300% rally. The network upgrade could act as a catalyst to trigger this upward trend for the crypto token.
As of now, Terra Classic is trading at approximately $0.0001128, showing an increase in the last 24 hours, according to data from CoinMarketCap.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#TerraClassic #LUNC
The major upgrade involves implementing the v.3.0.1 software for the Terra chain. As part of this, Genuine Labs will integrate the latest version of the Cosmos Software Development Kit (SDK 47). LUNC validator Lunanauts explained that voting yes for this proposal is crucial because the upgrade is “essential for the stability and improvement of the Terra Classic network.”
Major Upgrade for Terra Classic: Key Details and Implications
The proposed v.3.0.1 software upgrade for the Terra chain aims to address several critical issues and enhance the network’s performance. One significant improvement is the resolution of the app hash error, a persistent problem in the current version of the Terra chain. This upgrade will ensure that nodes do not encounter app hash errors during WebAssembly (Wasm) transactions.
Additionally, the upgrade includes support for legacy contracts with WASMD 0.45.0, which could not be imported under previous versions. This change is expected to enhance network stability and performance.
The upgrade also aims to prevent peer-to-peer (p2p) storms by incorporating backporting changes. These p2p storms have caused significant disruptions and inefficiencies on the network. Furthermore, the upgrade will limit the meme and receiver length in the Inter-Blockchain Communication Protocol (IBC)-go for both v6 and v7, promoting better interoperability between Terra and other Cosmos chains.
If approved, the upgrade will be implemented by halting the chain for a software update at a block height of 18,303,000. Validators will need to replace the old binary with the new one. This chain halt is expected to occur around June 2, when the upgrade will likely take place.
The proposal includes necessary updates and pull requests to address any “breaking changes” during the upgrade, minimizing disruption and preserving Terra’s integrity.
Terra Classic Upgrade: A Catalyst for Investor Confidence and Potential Rally
The upcoming upgrade is expected to significantly boost investor confidence in the Terra Classic ecosystem, leading to increased adoption and demand for the LUNC token. The network’s reputation has suffered since the LUNA crash in 2022, but successful implementation of proposals like this can help restore its image in the broader crypto ecosystem.
Meanwhile, crypto analyst Javon Marks has suggested that Terra Classic’s price is well-positioned for a 1,300% rally. The network upgrade could act as a catalyst to trigger this upward trend for the crypto token.
As of now, Terra Classic is trading at approximately $0.0001128, showing an increase in the last 24 hours, according to data from CoinMarketCap.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#TerraClassic #LUNC
According to a court entry, Terraform Labs and its co-founder, Do Kwon, have reached a 'settlement in principle' with the US Securities and Exchange Commission (SEC).
In a significant development, Terraform Labs and its co-founder Do Kwon have reached a pivotal turning point in their legal feud with the U.S. Securities Exchange Commission (SEC), as revealed by a recent court entry.
As per the filing made on Thursday, a telephone conference held on Wednesday, without recording, led to the cancellation of a previously scheduled oral argument on May 29.
The oral argument previously set for 5/29/2024 has been cancelled because the parties have informed the Court that they reached a settlement in principle," stated the filing. "The parties must file, by 6/12/2024, papers in support of a proposed final judgment consistent with the settlement.
The SEC had charged Terraform and Kwon in February 2023 over the algorithmic stablecoin Terra USD (UST), which had collapsed a year prior. Recently, both sides were embroiled in a dispute over fine amounts. Terraform and Kwon's lawyers argued for fines closer to $1 million, while the SEC proposed a significantly higher fine of $5.3 billion.
The trial against the SEC commenced for Terraform in late March, with Kwon notably absent. In April, a jury concluded that both Terraform and Kwon had misled investors and were held liable for civil fraud. The jury's deliberation centered on the SEC's allegations that Kwon and Terraform had violated federal securities laws through fraudulent activities associated with the buying and selling of Terraform securities.
Meanwhile, Kwon, the former executive, remains entangled in a legal tug-of-war over extradition to the U.S. or South Korea. He was apprehended in Montenegro in March 2023 for using a counterfeit passport while attempting to depart the country.
Source- The Block
$LUNC $LUNA $USTC #TerraLabs #TerraClassic #LUNC✅ #LUNA🔥🔥🔥 #USTC
In a significant development, Terraform Labs and its co-founder Do Kwon have reached a pivotal turning point in their legal feud with the U.S. Securities Exchange Commission (SEC), as revealed by a recent court entry.
As per the filing made on Thursday, a telephone conference held on Wednesday, without recording, led to the cancellation of a previously scheduled oral argument on May 29.
The oral argument previously set for 5/29/2024 has been cancelled because the parties have informed the Court that they reached a settlement in principle," stated the filing. "The parties must file, by 6/12/2024, papers in support of a proposed final judgment consistent with the settlement.
The SEC had charged Terraform and Kwon in February 2023 over the algorithmic stablecoin Terra USD (UST), which had collapsed a year prior. Recently, both sides were embroiled in a dispute over fine amounts. Terraform and Kwon's lawyers argued for fines closer to $1 million, while the SEC proposed a significantly higher fine of $5.3 billion.
The trial against the SEC commenced for Terraform in late March, with Kwon notably absent. In April, a jury concluded that both Terraform and Kwon had misled investors and were held liable for civil fraud. The jury's deliberation centered on the SEC's allegations that Kwon and Terraform had violated federal securities laws through fraudulent activities associated with the buying and selling of Terraform securities.
Meanwhile, Kwon, the former executive, remains entangled in a legal tug-of-war over extradition to the U.S. or South Korea. He was apprehended in Montenegro in March 2023 for using a counterfeit passport while attempting to depart the country.
Source- The Block
$LUNC $LUNA $USTC #TerraLabs #TerraClassic #LUNC✅ #LUNA🔥🔥🔥 #USTC
Luna Classic Price Prediction: Price History
While past performance isn’t a guarantee of future results, understanding LUNC’s price history can help provide context for interpreting or making a Terra Classic price prediction.
We’ll focus on LUNC since May 2022, but it’s useful to highlight its earlier days.
When Terra launched in July 2019, it was valued at about $1.30. This proved to be an overestimate, and the price dropped below a dollar, remaining there until early 2021. In January 2021, the token surpassed $1 and reached a high of $22.33 on March 21.
After a decline in the following months, the price surged later in the year, hitting $103.33 on December 27.
In early 2022, what was then known as #LUNA✅ saw significant price action, reaching a record high of $119.18 on April 5. Following a crash, it plummeted to a low of $0.00001675 on May 13. On May 28, the day the new $LUNA emerged and the old one became LUNC, the coin closed at $0.00009566. When the Celsius crypto-lending platform halted withdrawals, confirming the bear market, LUNC dropped to $0.0000517 on June 18. By late August, the price climbed, closing the month at $0.0002252.
The announcement of a 1.2% tax on blockchain transactions saw #TerraClassic peak at $0.0005888 on September 8, 2022. The tax proposal passed on September 21, but LUNC’s price fell to around $0.000185 on the morning of September 26.
By midday that day, after news of South Korean authorities contacting Interpol about Kwon and Binance implementing a 1.2% burn on LUNC trades, the price surged, with #LUNC trading at around $0.00031.
On October 2, 2022, it peaked at $0.0003613, before settling to about $0.00029 on October 12. Following the collapse of the FTX #exchange , LUNC fell to a low of $0.000148 on November 22 but rebounded to $0.0001658 on November 30.
On December 1, news broke that Binance had burned more than six billion $LUNC , significantly boosting the price, and by December 2, 2022, it was worth $0.0001805.
#EarnFreeCrypto2024
While past performance isn’t a guarantee of future results, understanding LUNC’s price history can help provide context for interpreting or making a Terra Classic price prediction.
We’ll focus on LUNC since May 2022, but it’s useful to highlight its earlier days.
When Terra launched in July 2019, it was valued at about $1.30. This proved to be an overestimate, and the price dropped below a dollar, remaining there until early 2021. In January 2021, the token surpassed $1 and reached a high of $22.33 on March 21.
After a decline in the following months, the price surged later in the year, hitting $103.33 on December 27.
In early 2022, what was then known as #LUNA✅ saw significant price action, reaching a record high of $119.18 on April 5. Following a crash, it plummeted to a low of $0.00001675 on May 13. On May 28, the day the new $LUNA emerged and the old one became LUNC, the coin closed at $0.00009566. When the Celsius crypto-lending platform halted withdrawals, confirming the bear market, LUNC dropped to $0.0000517 on June 18. By late August, the price climbed, closing the month at $0.0002252.
The announcement of a 1.2% tax on blockchain transactions saw #TerraClassic peak at $0.0005888 on September 8, 2022. The tax proposal passed on September 21, but LUNC’s price fell to around $0.000185 on the morning of September 26.
By midday that day, after news of South Korean authorities contacting Interpol about Kwon and Binance implementing a 1.2% burn on LUNC trades, the price surged, with #LUNC trading at around $0.00031.
On October 2, 2022, it peaked at $0.0003613, before settling to about $0.00029 on October 12. Following the collapse of the FTX #exchange , LUNC fell to a low of $0.000148 on November 22 but rebounded to $0.0001658 on November 30.
On December 1, news broke that Binance had burned more than six billion $LUNC , significantly boosting the price, and by December 2, 2022, it was worth $0.0001805.
#EarnFreeCrypto2024
Terra Luna Classic (LUNC): A Quick Introduction
The Terra Classic blockchain was initially created to support the TerraUSD (UST) cryptocurrency.
The concept was that Terra’s #LUNA✅ cryptocurrency would keep UST tied to the US Dollar. When UST’s value rose above its peg, more LUNA was created, and when it fell below $1, LUNA was burned or destroyed.
This system worked well initially, with LUNA reaching a market cap in the billions and ranking among the top ten largest cryptocurrencies.
However, in May 2022, everything changed. UST lost its peg, and LUNA’s value plummeted, causing a significant downturn in the entire crypto market. It can be argued that the market has not fully recovered since.
A new blockchain was established with a new version of the $LUNA cryptocurrency, which took the LUNA name. The original blockchain, now called Terra Classic, continues to support the original cryptocurrency, now called $LUNC , and is managed by the #TerraClassic community.
It’s important to note that #DoKwon , the founder, has been arrested by United States authorities and charged with eight offenses, including securities fraud, commodities fraud, wire fraud, and conspiracy. He is also imprisoned in Montenegro for forging official documents. As of now, #kwon faces extradition from Montenegro, but it is still unclear whether it will be to the United States or South Korea.
#EarnFreeCrypto2024
The Terra Classic blockchain was initially created to support the TerraUSD (UST) cryptocurrency.
The concept was that Terra’s #LUNA✅ cryptocurrency would keep UST tied to the US Dollar. When UST’s value rose above its peg, more LUNA was created, and when it fell below $1, LUNA was burned or destroyed.
This system worked well initially, with LUNA reaching a market cap in the billions and ranking among the top ten largest cryptocurrencies.
However, in May 2022, everything changed. UST lost its peg, and LUNA’s value plummeted, causing a significant downturn in the entire crypto market. It can be argued that the market has not fully recovered since.
A new blockchain was established with a new version of the $LUNA cryptocurrency, which took the LUNA name. The original blockchain, now called Terra Classic, continues to support the original cryptocurrency, now called $LUNC , and is managed by the #TerraClassic community.
It’s important to note that #DoKwon , the founder, has been arrested by United States authorities and charged with eight offenses, including securities fraud, commodities fraud, wire fraud, and conspiracy. He is also imprisoned in Montenegro for forging official documents. As of now, #kwon faces extradition from Montenegro, but it is still unclear whether it will be to the United States or South Korea.
#EarnFreeCrypto2024
Factors Influencing LUNC’s Future
The potential for LUNC’s price increase depends on several factors. Positive sentiment within the #CryptocurrencyCommunity could drive further interest and investment in LUNC. Additionally, any new developments or upgrades to the #TerraClassic network could attract new users and investors, potentially boosting the token’s value.
Marks’ analysis updates his earlier prediction from April 4, 2024, in which he identified #LUNC✅ as technically bullish and expected a significant upward movement towards $0.00058046.
The $LUNC price rose 3% within the last 24 hours, though it retraced some gains towards the end. The 24-hour trading range was between $0.0001089 and $0.0001263. Additionally, trading volume increased by 272%, indicating robust market interest. Similarly, $USTC experienced a 5% price increase over the past 24 hours, although it subsequently declined due to traders’ profit-taking.
#EarnFreeCrypto2024 #FIT21
The potential for LUNC’s price increase depends on several factors. Positive sentiment within the #CryptocurrencyCommunity could drive further interest and investment in LUNC. Additionally, any new developments or upgrades to the #TerraClassic network could attract new users and investors, potentially boosting the token’s value.
Marks’ analysis updates his earlier prediction from April 4, 2024, in which he identified #LUNC✅ as technically bullish and expected a significant upward movement towards $0.00058046.
The $LUNC price rose 3% within the last 24 hours, though it retraced some gains towards the end. The 24-hour trading range was between $0.0001089 and $0.0001263. Additionally, trading volume increased by 272%, indicating robust market interest. Similarly, $USTC experienced a 5% price increase over the past 24 hours, although it subsequently declined due to traders’ profit-taking.
#EarnFreeCrypto2024 #FIT21
