- Terra Classic is close to burning 100 billion tokens, marking a recovery phase after its 2022 crash.
- The LUNC community plays a key role, burning 383,184,360 tokens in the last week, pointing to improving its future value.
Terra Classic (LUNC) has been the talk of the town this week, as it neared the 100 billion token burn, an event that underscores its recovery after the drop suffered in 2022. This strategy to decrease the amount of coins has been a determining factor in its recent improvement in the market, increasing its price and the number of tokens withdrawn from circulation for good.
Terra Classic’s user base has played a decisive role in this achievement, with a burn of 383,184,360 LUNC in the last week. This collective action has brought the total number of tokens destroyed since May 2022 to nearly 98.60 billion. With less than 1.4 billion to go to reach the 100 billion target, interest in the community is evident.
Current Status of Terra Classic (LUNC)
Terra Classic has registered an increase in its price of 1.78%, reaching $0.0001163 per token. This increase is reflected in its market value, which now stands at $672,780,857. Although trading volume has decreased by 22.38%, standing at $36,824,951, this fact has not slowed down LUNC’s advance, showing a reactivation in its market activity.
The practice of burning tokens has reduced the supply in circulation to 5.78 billion from a total of 6.81 billion. The LUNC community remains focused on this decline to improve the coin’s value going forward. Recalling its high of $119.18 per token, this strategy suggests an optimistic view for the future value of the coin.
Recent Developments in Terra Classic
Terra Classic is going through a period of growth and adoption. Several exchange platforms have started to list LUNC, improving its availability and market presence.
Terra Classic staking has also shown positive results, with over 1.022 billion tokens currently staked. This represents about 15.02% of the total supply, demonstrating confidence in the future development of the cryptocurrency by the community.
You can comment on this in ClayBro’s video on the 1 billion LUNC burn in the last week.
