New Inflation Rate: In the revival plan, Do Kwon said that the existing revenue streams wont be sufficient to cover the cost of security without increasing swap fees. The LUNC burn is a unique approach to reducing the circulating supply of tokens and increasing their value over time. In fact, in just a few days, it went from 0.76 billion to 6.9 trillion tokens in circulation, and this literally imploded their price. LUNC is the native token of the Terra Classic blockchain, which imploded this May, wiping out $60 billion in market value; the project's algorithmic stablecoin lost its peg to the dollar, and LUNC, the token that was supposed to be its stabilizer, fell into hyperinflation. O ne of the biggest disasters the industry could ever face. So, where did Terra Classic come from? The idea effectively generated a new layer-1 Terra blockchain without its algorithmic stablecoin. official burn address. 10% earmarked for developers The Terra ecosystem and its community are worth preserving. He remained in close contact with the Luna team ever since the partial Luna delisting on Binance. 53 burns @ 3 BPH. window.__mirage2 = {petok:"0VISzb7urayDtr7CbQyuk6VS.q254S98FomXCT3xVIU-1800-0"}; The live Terra Classic price today is $0.000161 USD with a 24-hour trading volume of $47,959,981 USD. Yeah, thats Trillion with a capital T. LUNA lost 99.99% of its value and Terra's algorithmic stablecoin UST plummeted to pennies on the dollar. 79 burns @ 4 BPH. ==== Amendment #1 ====. A 20-year trader share his ways to profit, How to buy, sell and create NFTs on OpenSea. May 22, 2022 - Posted in Post-attack UST holders: 15% Luna Classic is a decentralized, consensus-based blockchain protocol that operates on a secure proof-of-stake consensus mechanism. The idea behind this is to decrease the overall supply of Luna Classic, thus increasing the demand and value of the remaining tokens. By burning a portion of tokens every time someone trades on the blockchain, Luna Classic can reduce the total number of tokens in circulation and ensure that users are rewarded for holding onto their coins. 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The Terra Classic community, along with other crypto projects and digital asset exchanges, have totally burned 20.0 billion LUNC tokens. While it is hard to imagine Luna Classic reaching $1 or even $0.10 given its current tokenomics (at $1, LUNC would have a market cap of over $5 trillion, which just isnt feasible), the price of LUNC is predicted to increase substantially in 2023, in large part thanks to Luna Classic burns. There is an updated tracker on TerRarity that shows how many LUNC tokens are being removed. Notably, both the 20 and 50-day moving average lines are now below the price and pointing up, indicating that LUNC remains in a clear uptrend on the daily chart. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Research expert covering finance, insurance & real-estate, internet & e-commerce, Profit from additional features with an Employee Account. The new proposal suggests allocating 50% of the burned tokens to the community fund of Terra Classic, rather than 10% of newly minted LUNC. ", Statista, Share of circulating supply of Terra Classic (LUNC) burned on the blockchain address shared by Do Kwon on May 21, 2022, up until October 4, 2022 Statista, https://www.statista.com/statistics/1317271/luna-burn-rate/ (last visited March 02, 2023), Share of circulating supply of Terra Classic (LUNC) burned on the blockchain address shared by Do Kwon on May 21, 2022, up until October 4, 2022 [Graph], Statista, October 5, 2022. October 5, 2022. window.coinzilla_display=window.coinzilla_display||[];var c_display_preferences={};c_display_preferences.zone="325fe079eb73cc7840";c_display_preferences.width="300";c_display_preferences.height="250";coinzilla_display.push(c_display_preferences). According to estimates, the tax burn rate will gradually increase to 5.2% in the near future, which would drastically increase the number of Terra Classic burned each day. is part of efforts investors believe would bolster the value of the cryptocurrency again. Due to systemic hyper-inflation, LUNA supply went from a This is thought to be a precautionary measure to avoid losing customers through higher fees. It is worth noting that since Binance introduced these measures less than a month ago, 18 of the 22 million LUNC tokens have been burned so far in five months. So what is the next course of action for LUNA holders? Dogetti And XRP Have Interesting Updates The Market Can Look Forward To, Luna Classic should not be confused with Luna. Definitions: Pre-attack snapshot to be taken at at Terra Classic block 7544910 (2022.05.07 23:00:04+08:00) A new revival plan dubbed 2.0 was shared by Terras founder, Do Kwon. It is worth mentioning, however, that different aggregators report different data regarding the actual circulating supply, so this figure is not to be taken with certainty. Over 39 billion LUNC have been burned so far, according to the Luna Classic burn tracker. Get top exchanges, markets, and more. Terra Luna Classic Burn: Terra Classic Aims for $0.000123 as Terra Community Burns LUNC, CelsiusNetwork Bankruptcy: A Timelineof the Crypto Lenders Crash. The Terra Luna Burner v0.0.2 to the moon, max deving, better believe it! Read along to find out. (October 5, 2022). The $LUNA in circulation: 6,535,104,248,122 Marketcap: $1,279,442,710 $LUNA What Is Terras (LUNA) Revival Plan 2.0? The platform has a unique coin burn feature, which is designed to reduce the circulating supply of tokens while increasing their value. To keep the value of TerraUSD (UST) at its $1 pegged value, Terra (LUNA) tokens are burned and minted, keeping the value stable despite the volatility usually found in the crypto market. Crypto trader, under the pseudonym ashwsbreal, revealed transactions showing that 300 Billion LUNA tokens were burned on 18 May. - Price Prediction Twitter: https://twitter.com/ZakaSignals Crypto Telegram Link: https://t.me/ZakaSignalsCrypto Business & Promotional Contacts: - Telegram - @ZakaTrades Staking is the process of holding a certain amount of tokens in a wallet, and in return, the staker is rewarded with a certain percentage of interest on those tokens. 27,337,229 #LUNC ($7,914) burned! Here is the tracker that allows live monitoring of the burning of this crypto. Luna Classic (LUNC) is the original one from the Terra Classic project that imploded in May. Analytics - Coinhall, Flipside This upgrade was voted on and approved by the Terra Classic community. exchanges will join the burn. One of the causes for this is the new staking service from LUNC DAO. Structured products - Nexus, Apollo, Aperture A Terra Luna burn would reduce this supply and possibly increase the value of Luna following the meltdown, which saw the circulating supply climb to over 6.5 trillion. Which exchanges have agreed to burn 1.2% on Terra Luna Classic (LUNC)? The community is now waiting for full integration of these proposals into the Luna Classic platform. Aptos airdrop: How to get it? The purpose is to bring the cryptocurrency Terra Luna Classic (LUNC) back to the top after losing more than 99% 3 months ago. LUNA AND LUNA CLASSIC - Terra Terra Luna Classic BURN TO $1! Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. In conclusion, the community-driven proposals 3568 and 4059 have been passed with an overwhelming 99% approval from validators. Are you interested in testing our business solutions? The Terra recovery plan launched Luna 2.0, meaning a Luna burn was not chosen as the way to save Luna. In comparison, the most traded crypto, the stablecoin Tether (USDT), had a 24-hour trading volume of $37.33 billion. It costs you nothing. LUNC Burner | TerRarity Burner Total Burned LUNC 0 0.000000% of Total Supply Sent to burning address 18,347,349,139 Daily Burning Rate 533,417,648 per day Burnt with tax 0 Burning Prediction Today 1 Year 5 Years Days Burned 0 0.000% of Total Supply Supply 6,881,250,852,231 Burning rate: 533,417,648 LUNC burned per day Burning Processor https://t.co/nx9poA1RMm #LunaBurn #BurnLuna. All rights reserved, LUNA Classic Burn: LUNC Comes Back with 2,400% Gains in Last 7 Days, LUNA Classic Burn: LUNCSpikes 40% as Binance Plans Supply Burn, LUNC Burn: Heres HowMuchLuna ClassicHas Been BurnedRecently, LUNC Burn: Binance Revises Luna Classic Burn Taxfrom1.2% to 0.2%, LUNCBurn: Binance owns 35% LUNC Supply butdoesNot SupportBurn, LUNC Burn: Binance Makes Key Changes to the Terra Luna ClassicBurns. Aptos price prediction: Is APTtoken a good investment? sgwashere29 . It is possible that the prices of not only LUNA but also LUNC were affected by the judicial problems of founder, There are also other problems related to the current and, Bitcoin (19k), Ethereum (1.3k), Matic Price Analyses. Bridges - Axelar, Wormhole Controlled by staked governance The thing is, Lunas total supply continues to increase. crypto referral codes. few hundred million to 6.9 Trillion. 96 Million Terra Classic (LUNC) Burnt In One Transaction, Nearly 150 Million On The Weekend. Show publisher information A Terra Luna burn was one potential recovery plan for the collapsed crypto. 11 February, 2023 - 10:03 Editor: Jakub Motyka. An example to illustrate how this works: If a transaction is made to acquire 2 million units of Luna Classic, a 1.2% fee will be applied, which equates to a total of 24,000 Luna Classic tokens. This represents a -0.50% price decline in the last 24 hours and a -4.00% price decline in the past 7 days. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains. Community pool: 30% However, with the Binance Luna 2.0 support, it seems Binance will not contribute to this burn. This decision was met with a significant majority, with 82% of voters for the proposal. This website does NOT constitute or offer any sort of financial advice and provides no NFT exchange - Randomearth, Knowhere, Oneplanet, Luart, Talis Most traders know of Terra Luna. The price has already gone up 70%+ in one hour as the community has decided to start burning the tokens. Essential app developers looking to join for emergency allocation should signal public support for the net network on Twitter and social channels. that is what I counted as of now, I added all the transaction into excel and that is what it counted up to. Simple market research tools to help you buy bitcoin and other crypto assets. Looking forward, its difficult to predict where the next short-term move will be, given that the relative strength index (RSI) is now in neutral territory. Per data shared by LunaBurnTracker, an unofficial Twitter account that covers various Luna Classic burns, nearly 150 million LUNC tokens have been incinerated by investors in less than 72 hours. So this excludes trading on However, Luna Classic should not be confused with Luna, because they are now two completely different and independent cryptocurrencies. Read below to find out what it is and whether it can work? So at this time it is not surprising that both LUNC and LUNA perform poorly in the markets, partly because enthusiasm for them has now died down. , because they are now two completely different and independent cryptocurrencies. Luna is currently trading on 24 exchanges, with a 24hr trade volume of $46,630,876. January 2023, 15:25 CET Completely Burned Luna 38.117.624.552 0.553715 % in Decreases from the LUNA Classic Circulation Supply Completely Burned UST 470.469.147 4.791998 % in Decreases from the UST Classic Circulating Supply Binance, a reputable crypto trading platform, has voiced its support for the recent proposal put forth by the Terra Classic community. Terras app ecosystem contains hundreds of developers working on everything from defi to fungible labor markets, state-of-the-art infrastructure and community experience Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem. Currently, there are two mechanisms to burn LUNC: on-chain taxation, and donations sent to the Use search engine; Visit some websites; Buying stuff; Or you can send your tokens to the dead wallet if you are in good mood ;) The Crypto exchange Binance said it supports the Terra Classic network upgrade v1.1 . While UST has been the central narrative of Terras growth story over the last year, the distribution of UST has led to the development of one of the strongest developer ecosystems in crypto. In today's video, I will talk about the luna token which is burning a lot and in the next 48 hours, we can see a lot of pumps.#LUNA #terraluna #lunacoin #cry. If you are unsure which validator to delegate to, refer to our FAQ on choosing a validator for guidance. Stablecoins: according to Reuters, the winner is Tether, AGIX: the crypto of the moment. This allows users to track the burn progress and get a better understanding of the burn mechanism. Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. Read below to find out. Where can you see real time the burning of the Terra Classic network? Since then a burn program has been initiated, but it is proceeding very slowly. The proposal suggests this would have a positive impact on the value of Luna Classic by decreasing the overall supply. All tokens locked or vesting are staked at genesis, and must be unbonded to become liquid. Terra Classic Price | LUNC Price Index, Live Chart and USD Converter - Binance 2023-02-28 - The live price of LUNC is $0.0001621 per (LUNC / USD) today with a current market cap of $958.86M USD. Luna to be airdropped across Luna Classic stakers, Luna Classic holders, residual UST holders, and essential app developers of Terra Classic. Terra Classic is down 0.37% in the last 24 hours. Register on Binance with my link and you will get 10% commission back for each crypto operation! In the aftermath, the original blockchain rebranded to Terra Classic (LUNC). Network security to be incentivized with token inflation. So far, in five months, only 22.7 million tokens have been burned, or only 0.33% of the total. "Share of circulating supply of Terra Classic (LUNC) burned on the blockchain address shared by Do Kwon on May 21, 2022, up until October 4, 2022." This move is aimed at decreasing the total number of tokens in circulation and ultimately benefiting the Terra Classic community. $LUNA added since last Tweet: 7,062,603 ($1382.72). The community awaiting a response from Binance finally received the support announcement later on February 28. Will the LUNC burn tax manage to reign in the hyperinflated supply? Overtime, hopefully more crypto Initially, the LUNC burn rate was set to1.2% of each transaction. Accessed March 02, 2023. https://www.statista.com/statistics/1317271/luna-burn-rate/, Statista. Trading on 24 exchanges, with the Luna Classic should not be confused with Luna tokens and increasing value. The circulating supply of tokens while increasing their value has decided to start burning the tokens 3568. Public support for the net network on Twitter and social channels which exchanges have to... The proposal community awaiting a response from Binance finally received the support announcement later February. Impact on the value of Luna Classic holders, residual UST holders, and essential app looking. Faq on choosing a validator for guidance Terra recovery plan for the network. Nearly 150 Million on the value of the Terra Classic project that imploded in May represents a %... 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