A major court-ordered LUNC burn could be right around the corner, potentially causing a supply shock that sends $LUNC soaring. đ As part of a $4.5 billion settlement with the SEC, Terraform Labs has been directed to burn a significant amount of LUNC by the end of the month. If they fail to comply, hefty fines will follow.
This burn event, which includes the destruction of private keys tied to large LUNC holdings, could take place as early as this week. Additionally, the Shuttle Bridge used for cross-chain transfers will be permanently closedâusers are advised to withdraw assets before itâs too late. â ïž
Why does this matter? By cutting down LUNC's circulating supply, the burn could create a deflationary effect, setting the stage for a potential price surge. Though LUNC is currently trading at $0.0000925, this event could be a pivotal moment for the token.
The Terra Classic community is also working on broader upgrades to enhance the blockchainâs performance and sustainability, with key proposals aimed at reducing maintenance costs and integrating more efficiently into the Cosmos ecosystem.
Could this be the moment LUNC makes its comeback? Stay tuned as this critical burn event unfolds! đ
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