Claim $500Will Terra Classic (LUNC) Get Support From Binance Industry Recovery Initiative?
Terra Classic developers are planning to get support from the Industry Recovery Initiative of crypto exchange Binance. While the crypto exchange temporarily suspended its LUNC Burn mechanism until March, Binance can offer support to developers building on the Terra Classic blockchain.
Terra Classic Community To Get Support From Binance
Last week, Binance announced that it will burn 50% of the LUNC spot and margin trading fees instead of 100% and suspend LUNC burn mechanism until March. However, Binance also welcomed developers to apply for the Industry Recovery Initiative (IRI). Developers wanting to continue to build the Terra Classic chain may receive support from Binance as part of the initiative.
In the latest developments, many LUNC developers are planning to apply for Binance’s initiative and receive funding to build on the Terra Classic chain. It was confirmed by Terra Classic influencers Classy Crypto and DemonMonke777 in a recent AMA.
Classy Crypto in a tweet on January 3 revealed that developers are now working to get the Terra Classic chain back to parity and stop LUNC tokens from reminting. Also, there is a possibility of a merger between LUNC and LUNA in the future.
Moreover, the community has passed the crucial Proposal 11168. It will create the “Joint L1 Task Force” developers team led by core developers Zaradar and Edward Kim, which will look over the maintenance and L1 developments on the chain. Tobias “Zaradar” Anderson in an AMA with Classy Crypto revealed that many developments are coming on the chain. The community will witness utility coming back on the chain in the next 3 months.
LUNC Price Shows Upside Momentum
Terra Classic price continues to show upside momentum, with an increase in trading volumes in the last 24 hours. The LUNC price is currently trading at $0.000157. The 24-hour low and high are $0.000152 and $0.000167, respectively. Thus, the LUNC price has skyrocketed almost 10% from the low, before losing earlier gains.
The LUNC price will face some pressure as this week will be crucial for the crypto market. Thus, traders must do research before investing in LUNC.
Also Read: Here’s How Much Your $100 Investment in Terra Classic Will Be Worth If LUNC Reaches $1
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.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Coinbase CEO Outlines 2026 Vision: All-in-One Exchange in Priority
- Crypto Trading and Mining Go Legal in Turkmenistan
- AI Coins, Dogecoin Lead Crypto Market Rebound as Elon Musk Lauds Nvidia CEO
- US Crypto Regulation Sets Up Bullish 2026 Outlook, Key Dates to Watch
- Crypto Gains New Use Case as Iran Turns to Digital Assets for Weapon Sales
- Shiba Inu Price Eyes a 45% Rebound as Burn Rate Spikes 10,700%
- Expert Predicts Ethereum Price Rebound to $4k as BitMine, Long-Term Holders Buy
- Bitcoin Price Prediction Ahead of FOMC Minutes
- U.S. Government Shutdown Looms: These 3 Crypto Predictions Could Explode
- Grayscale Files for First U.S. Bittensor ETF: Will TAO Price Rally to $300 in January?
- Shiba Inu Price Prediction: Will SHIB Show Golden Cross Signal in 2026?
