Browsing:Terra Luna Classic

10 months ago 0 mins read

Investors pump $70 million into LUNC in a week as Terra Classic interest returns

Despite its declining utility, investors in Terra Classic (LUNC), the original chain of the defunct Terra (LUNA) token, remain bullish on the digital asset. Despite the current bearish market conditions, the token appears to be on a bullish upward trend. According to CoinMarketCap data, LUNC currently has a market capitalization of $965.68 million, an increase of $73.49 million from $892.19 million on November 29. As a result, short-term buying pressure has influenced the value of LUNC, which was trading at $0.00016 at press time, up more than 2% in the last 24 hours. The weekly chart shows that the token

11 months ago 2 mins read

Terra Classic developers reduce the ‘burn tax’ rate in an effort to boost on-chain activity

Contributors to the Terra Classic network have cut the so-called “burn tax” charged on all Terra Classic token (LUNC) transactions. The developers have reduced the tax rate from 1.2% to 0.2% since the earlier rate was thought to cause a decline in network activity. The new rates went into effect today at 8:50 a.m. ET, after the community’s approval of governance “Proposal 5234,” which reduced the number of tokens burned with each transaction. Following the depeg of the UST stablecoin in May 2022, Terra’s developer, Do Kwon, abandoned the original Terra network and downgraded the project to “classic” status in