The Terra Classic community is on the verge of a potential supply shock that could send $LUNC into a bullish frenzy! 🔥 As part of a landmark $4.5 billion settlement with the SEC, Terraform Labs has been ordered to burn its LUNC tokens—setting the stage for a major price move. 🚀
Court Orders LUNC Burn: What’s the Deal?
In this historic settlement, Terraform Labs must execute a significant LUNC burn before the month’s end. Failure to do so will result in heavy fines. This burn includes destroying private keys linked to wallets holding massive amounts of LUNC. The clock is ticking, and the burn could happen this week! ⏳
Meanwhile, the Shuttle Bridge—used to transfer assets across chains—will permanently close during this burn event. The community is urged to withdraw any assets from the bridge before it’s too late. ⚠️
Why This Matters for LUNC
This massive burn could be the catalyst LUNC needs to regain its former glory. By significantly reducing the circulating supply, the burn could create a deflationary effect, potentially driving the price higher. 🌕 LUNC’s supporters are optimistic that this event could push the coin closer to its all-time high of $119.
Since the burn initiative kicked off in May 2022, 135.54 billion LUNC tokens have been burned, with 303.6 million burned in the last seven days alone. However, with 6.76 trillion LUNC still in circulation, there’s a lot of work ahead. This burn is a critical step toward reviving the coin and restoring confidence.
The Community’s Plan to Revive LUNC
The Terra Classic community isn’t stopping at burns. They’re pushing forward with ambitious proposals, including one from OrbitLabs to remove outdated modules from the blockchain. This move is aimed at reducing maintenance costs and improving the blockchain’s efficiency, all while aligning it with the broader Cosmos ecosystem.
By cleaning up technical debt and streamlining the LUNC codebase, the community is positioning itself for long-term sustainability. 💡
Will LUNC Rise Again?
At the time of writing, LUNC is trading at $0.0000925, slightly down by 2%. But with the burn looming and major upgrades in motion, this could be the calm before the storm. 🌪️ Will LUNC’s price skyrocket after this massive supply reduction? Many believe this could be the turning point that propels the token back to prominence.
Get ready for what could be a defining moment for LUNC—keep your eyes on Binance as this story unfolds! 👀
#LUNCBurn #TerraClassicRevival #Binance #CryptoNews #LUNCtoTheMoon
