Terra Classic (LUNC) Price Soars As Exchanges, Platforms Aims To Burn 2.5 Trillion
Terra Classic (LUNC) price soars nearly 10% in the last 24 hours from a low of $0.00025 to a high of $0.00029. The price jumped after several crypto exchanges and platforms extended support for Terra Classic. In fact, Lithosphere network core developer KaJ Labs aims to burn 2.5 trillion LUNC tokens with the Jot Art Finesse NFT collection and mixed RPG play-to-earn “Finesse” gameplay.
Terra Classic (LUNC) Support by Crypto Exchanges and Platforms
Terra Classic has a total supply of 6.8 trillion. The community aims to reach a fixed supply of 10 billion LUNC tokens with the 1.2% tax burn or other burn mechanisms. Until now, 6.6 billion LUNC tokens have been burned, with 4.2 billion burned by sending to the burn address and 2.3 billion burned with tax.
The world’s largest exchange Binance’s support for Terra Classic burn for on-chain and off-chain transactions has led many other exchanges including KuCoin, Kraken, Huobi, Gate.io, MEXC Global, eToro, Crypto.com, CoinInn, BTCEX, and LBank to support the community.
Recently, other exchanges such as CEX·IO, Bitrue, Bitazza Global, etc. have extended support for the 1.2% tax burn mechanism. Moreover, other projects such as MetaRivals are also returning to the Terra Classic chain.
Interestingly, Lithosphere blockchain core developer KaJ Labs promises to allocate $50-$100 million for burning 2.5 trillion Terra Classic (LUNC) tokens. KaJ Labs expects the Lithosphere (LITHO) Jot Art Finesse NFT collection and mixed RPG play-to-earn “Finesse” games starting October 1.
While crypto exchanges aim to burn LUNC tokens until the supply reaches 10 billion, new projects and games plan to further reduce the LUNC supply. This will make the LUNC price jump significantly higher and the token becoming more deflationary.
LUNC Price Soars Amid Rising Burn Rate
After the 1.2% tax burn, the daily burn rate has reached over 450 million LUNC tokens. As a result, the Terra Classic (LUNC) price has jumped higher despite other factors such as the arrest warrant against Do Kwon.
In the last 24 hours, the Terra Classic price has soared nearly 10%, with the price currently trading at $0.00027.
- Breaking: CME to Launch 24/7 Crypto Futures Trading Amid Rising Institutional Demand
- Citigroup Predicts Bitcoin Could Climb to $231,000 in 12 Months
- Ethereum and BMNR Rallies as BitMine Drops $1B on ETH, Analyst Hails “Most Bullish Setup Yet”
- ASTER Deposits Flows Into Binance Wallets Following CZ Endorsement, Listing Incoming?
- Avalanche Treasury Seals $675M Deal With Mountain Lake to Build $1B AVAX Vehicle
- Solana Price Eyes $360 After Bullish Retest As VisionSys AI Deploys $2B Treasury Strategy
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
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.
