Aptos airdrop: How to get it? Details are subject to change. . 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. Luna (LUNA) is currently ranked as the #108 cryptocurrency by market cap. Even though the Luna 2.0 crypto exchange list grows, some exchanges previously vowed to burn Luna through their transaction fees. Use Ask Statista Research Service. But UST has now lost its peg ratio, and currently trades at $0.1303 as of 11am, as per Coinmarketcap data. 6,869,510,666,331. 53 burns @ 3 BPH. Source. There LUNC burn rate is, however, not only limited to exchanges, the burn rate is also implemented by the Luna Classic network itself. The truth is that law enforcement does not know exactly where he is, and it seems quite likely that he is trying to escape capture by moving to places where the same law enforcement agencies are having difficulty finding him. So what is the next course of action for LUNA holders? Over $60 billion USD "Once again, we don't have that kind of money," he said. Post-attack LUNA holders: 10% great benefits, like discounted trading fees and free sign up bonuses. 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. Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. This represents a -0.50% price decline in the last 24 hours and a -4.00% price decline in the past 7 days. The Terra Classic community has recently cast their votes in favor of Proposition 11111, which aims to repeal Proposition 10983 and change the way LUNC tokens are distributed and burned. Thus in the first four months the overall program burned only about one million tokens per month, while since the burn program was launched on Binance more than 18 million have been burned per month. Some top cryptocurrency exchanges have already announced thatthey will support the proposal once it goes live on September 20, 2022. Compared to the pre-implosion period, LUNC has lost almost 100% of its value, but compared to the lows at the end of June it has gained 280%. It has been designed to facilitate low-cost and secure transactions, with near-instant confirmation times. Likewise, on the website in question there is also a graph below with the total supply of TerraClassicUSD (USTC), the Terra Classic stablecoin that turned out not to be as stable as thought, and the amount of tokens burned in each period of time. Step 2: Select a validator from the list by clicking on their name. With a circulating supply of 5.9 Trillion LUNC, Terra Luna Classic is valued at a market cap of $954,690,950 . While data shows that some burn transactions were being carried out, they were largely insignificant when compared to how were being created. You can also play mobile games. Due to systemic hyper-inflation, LUNA supply went from a few hundred million to 6.9 Trillion. This makes up just making up just 0.055% of the circulating supply. official burn address. The thing is, Lunas total supply continues to increase. LUNC classic is a site where investors can follow instantly. However, the burn program has accelerated only since late September, and since then the price has fallen 23%. Everything there is to know, Crypto analysis: Cardano (ADA), Pi (PI) and Akira (AKR), Dash, Cronos and Solana crypto assets on the upswing, Crypto news and price analysis of The Graph and Litecoin, Stellar, CRO and FLOKI, performance that don't do justice to these crypto assets, 2023 CMC Crypto Playbook: Centralized vs. This as most cryptocurrencies saw minimal gains. The increase was mainly due to the tokens interaction and relationship with stablecoin, UST. Table with the burning of Terra Luna Classic (LUNC) since the activation of the 1.2% burning tax in the transactions over the Terra Classic network. UST or LUNA on CW3 multi-sig contracts As of now, 8 validators have voted, with 7 voting in favor and 1 against the proposal. The idea behind this is to decrease the overall supply of Luna Classic, thus increasing the demand and value of the remaining tokens. Terra Lunas Revival Plan 2.0 Pi Network Mainnet: When Is Pi Coin Launching? 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. As a Premium user you get access to the detailed source references and background information about this statistic. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains. The recent launch of the Luna Classic and its community-driven development initiative have brought forth proposals 3568 and 4059 which have been passed with an overwhelming 99% approval from validators. I built this site as a passion project. Good luck, internet stranger! The official LUNC burn wallet address is: This move is aimed at decreasing the total number of tokens in circulation and ultimately benefiting the Terra Classic community. Data is updated every 5 minutes Therefore, if the current pace were maintained, the burn rate would be 18 times that of the first four months. The current CoinMarketCap ranking is #54, with a live market cap of $949,594,314 USD. By understanding the deflationary nature of Luna Classic tokens and their burn mechanism, users can better understand why reducing the circulating supply is important for increasing their value over time. (The Truth EXPOSED!) Register now to begin your crypto journey, Download the BTCC app via App Store or Google Play. In recent updates, the software has undergone several updates and rollbacks, with the most recent version being v0.5.21. not much, but it is a start and the burns keep coming. Tests have also been conducted to determine the potential impact of the lunc burner tax. There are also other problems related to the current and future development of the two projects. Pre-attack aUST holders: 10% 593348 USTC 956,519,610. Go, champions, 2023 CMC: Global Crypto User Adoption Outlook with CZ, The Nemesis: interview with Poseidon DAO for the talk show in the metaverse, TradingView integrated into Bitget's crypto exchange. Overall, the Terra Classic community's decision to repeal Proposition 10983 and adopt the new proposal for LUNC distribution and burning is a significant step towards improving the network's performance and driving stimulating more activity on the Terra Classic network. This new plan essentially makes Terra a community-owned crypto Blockchain, more like a decentralised autonomous organisation (DAO). LaLiga Names Divi Official Crypto Wallet for MENA, SEA, & China, in Worlds First for a Football League. This document has been edited in conjunction with input from the Terra Builders Alliance, and has endorsement of both the TBA and TFL. Payments / onramp - Kado, Alice Structured products - Nexus, Apollo, Aperture Can Luna Classic (LUNC) Rise to $1? As of February 2023, more than two-thirds of LUNC burned has been sent to a dead wallet directly, while about a third has been burned via the transaction tax. The results showed that it was possible, to burn a mass of 1.6 billion tokens with on-chain transactions in only one day. In the aftermath, the original blockchain rebranded to Terra Classic (LUNC). In addition, the burn mechanism creates deflationary pressure on the token, as the total supply of tokens decreases over time. Luna Classic is a decentralized, consensus-based blockchain protocol that operates on a secure proof-of-stake consensus mechanism. Invest Cuffs 2023 - one of the largest investment congresses in Europe! Since the Terra blowout, several A new revival plan dubbed 2.0 was shared by Terras founder, Do Kwon. Do Kwon has given the community the official address for burning $LUNA Post-attack snapshot to be taken at Terra Classic block 7790000 (2022.05.27 03:59:51+08:00) Data from Etherscan showed that several batches of LUNA coins were being transferred to burn addresses, some even ranging as high as 90 Million tokens. Post-attack UST holders distribution - 20% 15%. TerraUSD, Terra's native stablecoin, is backed by LUNA. All provided information without any warranty of being correct. Terra Luna Classic Burn: Community Efforts to Burn LUNC Continue! 069336 LUNC 9,800,590,920. On May 28, 2022, the creators behind LUNA released a 2.0 version of the cryptocurrency, whilst the "original" LUNA coin got rebranded into LUNC or Terra Classic. I hope you make it to the moon . support of the Terra community, Binance decided to donate all LUNC trading fees to the burn. Yeah, thats Trillion with a capital T. LUNA lost 99.99% of its Not everyone in the cryptocurrency community was in favour of a Luna burn. Lending market - Mars, Edge An international arrest warrant hangs over him, so it may not be easy to find countries where law enforcement refuses to arrest him. This proposal is planned to be activated concurrently with Proposal 3568. Lunc Burner Online Your Burn Tracker for Terra Luna Classic Last update: 26. UST or LUNA on Terra protocols that cannot be easily identified Hence, he asked members of the community to incentivise the networks security in line with the native crypto tokens inflation, which should be targeted at 7 per cent per annum. The Terra Rebels are now working diligently to implement these updates to the Luna Classic platform, with Proposal 3568 aiming to decrease the overall supply of Luna Classic by implementing a transaction-based burner tax and Proposal 4059 focused on reintroducing the staking functionalities to the platform, both of which are expected to have a positive impact. With the supply increasing 1700% in a few days, a major burn would be needed to restore this price. This website does NOT constitute or offer any sort of financial advice and provides no Due to an exclusive announcement from the lead developer, who revealed that the network will be integrating with Interchain Station, a wallet that supports multiple chains. Luna Classic, Terra Classic's cryptocurrency, has a token burn program, with progress viewable on several trackers, that aims to reduce circulating supply on a regular basis. The live Terra Classic price today is $0.000161 USD with a 24-hour trading volume of $47,959,981 USD. NFT exchange - Randomearth, Knowhere, Oneplanet, Luart, Talis It did, technically, have the same effect as a burn could in reducing the supply, although deciding to restart the chain was a more nuclear approach. is part of efforts investors believe would bolster the value of the cryptocurrency again. 10% earmarked for developers But there are several key risks to watch out for, since most of these measures will take some time to actually materialise. Currently, you are using a shared account. So, in order to increase the supply of TerraUSD, LUNA tokens need to be burned. The 5% saved goes to the community pool. finder.terra.money/classic/tx/AE4 #LunaBurn #BurnLuna 3 29 153 30% unlocked at genesis; 70% vested over 2 years thereafter with 6 month cliff //
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