LUNC To Hit $0.1 After Terra Classic’s Recent Upgrade?

May 25, 2023

Terra Classic is on the way to reinvigorating itself by implementing several strategic network upgrades.

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The latest upgrade on the Terra Classic network was executed in the early hours of May 25, 2023, shortly after Proposal 11515 passed community governance voting.

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As per the proposal, surplus burns would enhance the growth of LUNC, attracting more investors to the project.

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With the recent network upgrade, the burn tax on all LUNC and USTC on-chain transactions increased from 0.2% to 0.5%.

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It is believed that this change in burn tax will lead to a substantial increase in the quantity of LUNC being burned.

Though the effect of this upgrade is yet to be seen, it is expected that the price of LUNC will increase and hit $0.01.

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It is worth noting that top exchanges like Binance and KuCoin have supported the LUNC burn tax increase.

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