Terra Classic (LUNC), the cryptocurrency that has experienced significant growth and recovery since its May 2022 crash, has seen its user base reach impressive numbers. As of March 2024, Terra Classic has a circulating supply of 5.80 trillion LUNC tokens out of a maximum supply of 6.88 trillion LUNC. This circulating supply is higher than that of top cryptocurrencies such as Cardano (ADA) with 45.8 billion tokens and Shiba Inu (SHIB) with 589.5 trillion tokens.
The growth in the number of Terra Classic accounts can be attributed to several factors, including the project's ongoing efforts to revitalize the ecosystem and the potential value that LUNC holders see in the project's future. The recent increase in the number of holders is a positive sign for the project, indicating that investors and users remain optimistic about its potential.
The Terra ecosystem, which includes the algorithmic stablecoin TerraUSD (UST) and its complementary asset LUNA, has been undergoing changes and improvements since the May 2022 crash. The Terra community has been actively working on enhancing the network's security and stability, as well as developing new services and protocols to promote safety and user confidence.
The recent surge in the number of Terra Classic accounts is a testament to the project's resilience and potential for growth. As the Terra ecosystem continues to evolve, the community of LUNC holders will play a crucial role in shaping its future and ensuring its long-term success. The growth in the number of holders is a positive sign for the project, indicating that investors and users remain optimistic about its potential.
Despite the challenges faced in the past, the Terra ecosystem remains a significant player in the cryptocurrency market, with a total value locked (TVL) of $11.36 billion, making it the fourth largest smart contract platform by TVL. The Terra blockchain is also supported by a network of decentralized finance (DeFi) applications, which have been facing a growing number of hacks in recent years.
As the Terra ecosystem continues to grow, it is expected that the ecosystem will become more robust and resilient, potentially attracting more investors and users. The growth in the number of Terra Classic accounts is a positive sign for the project, indicating that the community is actively engaged and committed to its future success.
