Token Burning Could Influence Price

$LUNC was the token that “inherited” the legacy of the former Terra/Luna after the project collapsed in 2022. At the time, the token (which bore the name LUNA) was one of the most valuable on the market, with a total value of over US$40 billion. Within a few days, however, the entire project turned to dust and now LUNC is trying to recover.

A key catalyst for the price of $LUNC is the ongoing token burn, which removes excess LUNC from the market. As with BNB, the burn consists of sending LUNC to an address from which they cannot be redeemed.

In the case of $LUNC , over 393 billion tokens, representing 84% of the total, have been burned since its inception. Of this total, 2.36 billion were burned in the last seven days. This trend could continue for a long time.

The price of Terra Classic could also appreciate due to an upcoming upgrade to its network. The new upgrade will mainly focus on simplifying tax treatment for the network. More importantly, it will also allow developers on Cosmos to build on the Terra Classic network.

Research source: Criptofacil website

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