Skip to content

Terra Classic nears 100 billion burn milestone: Bullish for LUNC

Terra Classic nears 100 billion burn milestone: Bullish for LUNC

With the majority of assets in the cryptocurrency sector making bullish rallies this week, Terra Classic (LUNC) is no exception, recently returning to the top 100 crypto assets by market capitalization and looking at recording another impressive result – 100 billion burned LUNC.

Specifically, the Terra Classic community is approaching the milestone of 100 billion of its native tokens burned in a collaborative effort to remove them from the circulating supply, according to the most recent data retrieved from the Terra Classic analytics platform LUNC Metrics on February 13.

Indeed, the community has so far burned 98.52 billion LUNC tokens since the introduction of the practice on May 13, 2022, having burned as much as 391 LUNC in the last seven days alone, bringing the total amount of LUNC in circulating supply to 5.78 trillion.

Total Terra Classic tokens burned in last month. Source: LUNC Metrics

Thanks to this burning campaign, largely accelerated by Binance, one of the largest crypto exchanges in the world, the Terra Classic crowd is reducing the amount of the LUNC token in circulation and is increasing demand, all of which contributes to its bullish momentum and a growing price.

Terra Classic price analysis

As things stand, the price of Terra Classic at press time amounted to $0.000117, which indicates an increase of 4.4% in the last 24 hours, in addition to gaining 9.18% across the previous seven days as it moves to reverse the 4.54% decline from the past month, according to the latest charts on February 13.

Terra Classic 7-day price chart. Source: Finbold

All things considered, LUNC is looking at more price increases in the near future due to the bullish influence of the above burning milestone, as well as the community votes on two major know-your-customer (KYC) proposals, including allowing third-party developers to continue working on small code or bug fixes.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.