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