Every LUNC believer must be smiling throughout this week, seeing how much increase the price has achieved this week despite the dull price movement by Bitcoin and every other asset.
The recent LUNC hype and energy all started off with the staking program, which kicked off some time last week. Notably, Last week, the LUNC staking program went live, as reported earlier.
The staking program finally began, and it did so with great enthusiasm. Over 140k unique stakers and 400 billion LUNC were recorded to have been staked in just two days after introduction, with the top four Validators holding about 69 Voting power each.
Data from the analytical tool SmartStake shows that these validators include some of the community’s most important influencers, including Allnodes.com, LUNC DAO, Orion.Money, and Interstellar Lounge.
LUNC Social Activity Spike Corresponds With Price Increase To $0.00057
Terra Classic $LUNC has reportedly increased +390% in 1-months time, and social activity is also following the trend with a massive increase.
According to information from Crypto Data Analytical tool, LunarCrush, $LUNC in 1 month has recorded massive milestones, as seen below.
- Social mentions: 898.62K +119%
- Social contributors: 9.82K +86%
- Social engagements: 869.59M +134%
Terra Classic $LUNC increased +390% in 1-months time, and social activity is soaring with it 🚀#TerraClassic 1-month activity:
– Social mentions: 898.62K +119%
– Social contributors: 9.82K +86%
– Social engagements: 869.59M +134%👉 Insights: https://t.co/oJNcKm0Lqd pic.twitter.com/9Ni5dUlNv0
— LunarCrush (@LunarCrush) September 7, 2022
The Terra Classic community has been unrelenting as regarding the project. There have been multiple twitter trends during the process of a revival plan after the crash of the asset sometime mid-year 2022 which saw many investors lose their funds and savings as in the case of UST depegging.
The current Terra Classic price today is $0.000541 with a 24-hour trading volume of $3,194,489,227, representing a 59.54% increase. $LUNC is up 56.64% in the last 24 hours with a current market cap of $3,305,414,749. $LUNC in one month has recorded a price increase from $0.00008386 to high $0.0005723, that’s over 6X price increase.
More Exchanges Support 1.2% Tax Burn Proposal
Early this week, MEXC exchange became the first Cryptocurrency exchange to show support for the 1.2% LUNC tax burn proposal of the Terra Classic $LUNC Community as seen in a blog announcement by the exchange.
According to information obtained from the proposal website, the idea aims to tax all on-chain activity. This means all transacting funds between wallets and smart contracts that communicate with the chain, will be taxed and burned, according to information from the website.
Furthermore, KUCOIN has joined the train as announced by the cryptocurrency exchange.
#KuCoin Will Support the 1.2% Tax Burn Proposal of the Terra Classic $LUNC Community
— KuCoin (@kucoincom) September 7, 2022
The community is expecting the top crypto exchange, Binance to also show its support for the LUNC community. Many are even speculating the recent LUNC wallet maintenance announced by Binance could be linked to a support by the exchange.
Binance in an updated announcement indicates the exchange will review and amend the minimum withdrawal amount, maximum withdrawal amount and withdrawal fees for LUNC and USTC via Terra Classic network.
Notice on Tax Burn for $LUNC and $USTC on Terra Classic $LUNC Network.https://t.co/1TH6sljgka
— Binance (@binance) September 8, 2022
According to the announcement, Before a transaction reaches Binance, the Terra Classic network will charge a fee. Users will receive their withdrawal amount less any Binance withdrawal fees and the network’s 1.2% tax reduction.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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