Will Terra Classic (LUNC) Price Increase With This New Update?

A recent successful integration with Interchain Station has resulted in a significant boost for the Tera Classic (LUNC) crypto token. According to the lead developer of Terraform Labs, Jared, who made the announcement on his official Twitter account, the rebranded Terra network will be joining a list of other blockchains, including Osmosis, Juno, and SEI, among others, to help steer the network in the right direction.

LUNC Interchain Station Goes Live

Jared also mentioned that additional chains will soon be joining the Interchain Station, which includes the likes of SEI, Mars and Pisco. his move will enable different blockchains to communicate with one another in a seamless manner at all times. In addition, the lead developer mentioned that within the next few days, more features will be rolled out; with their primary focus on launching the wallet for mobile devices. Currently, the mainnets which are supported by the station are Luna, Lunc, Osmosis, Juno, Kujira, Carbon, HuaHua and Cresent.

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As reported earlier on CoinGape, the price of Terra Classic (LUNC) rose nearly by 3% on January 10 when it was first announced by the TFL staff on Twitter as a “breakthrough in chain integrations”. The new development comes after attempts were made by the LUNC community to revive the dwindling project, a blockchain that was spun out of the collapsed Terra ecosystem. With the new station wallet, developers working on the DeFi platform will now have easy access to oracle data from multiple chains via the interchain facility.

Terra Classic (LUNC) Price Action

The start of 2023 has not been smooth for the Terra Classic blockchain as received a major blow when crypto exchange KuCoin announced its undelegation of nearly 48 billion LUNC tokens. However, the LUNC community has fought back by approving and implementing new governance proposals that aim towards the overall betterment of the chain. In a bid to stir up on-chain activity, the Terra ecosystem recently has been conducting token burns.

For instance, governance proposal 11242 seeks to do away with the practice of reminting a proportion of the LUNC tokens that have been destroyed. This upgrade, once implemented, will effectively eliminate the crypto tokens from its circulating supply which could, in theory, have a positive impact on the price of LUNC.

As things stand, the Terra Classic (LUNC) price is currently being traded at $0.0001761. This represents an increase of 2.65% on the day, in contrast to the massive gain of 15.50% during the last week, as per CoinGape’s crypto market tracker.

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