LUNC News: Terra Classic Staked Reaches 940B As KuCoin Resumes Staking

Anvesh Reddy
February 8, 2023
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Why Is Luna Classic (LUNC) Price Skyrocketing Today?

Terra Classic (LUNC) Kucoin Staking: The crypto community is welcoming the much needed LUNC staking started by KuCoin. The crypto exchange is back with the LUNC staking service after it delegated 48 billion LUNC in January 2023. With its entry back on the LUNC chain as a validator, KuCoin will enjoy voting power of 5.09% thanks to the 47.9 billion $LUNC delegated.

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KuCoin Resumes LUNC Staking

With the news KuCoin Earn LUNC staking program, investors will get an expected annual percentage rate (APR) of 12%. Whereas the redemption period is 21 days. In what could have been a response to KuCoin’s LUNC delegation, the token’s price saw some surge in recent hours, before losing the gains. As of writing, Terra Classic (LUNC) price stands at $0.0001822, down 0.55% in the last 24 hours. Interestingly, the Terra Classic trading volume shot up significantly compared to 24 hours ago, with a rise of 20.95%.

The staking resumption meant KuCoin gaining back substantial voting power of 5.09%. Last month, the exchange said its validator undelegated 48 billion LUNC due to a switch in the pledge node of its internal financial account. With this, KuCoin’s voting power dropped significantly with the validator rank slipping to 46 at the time.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at [email protected] or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.