🚀 LUNC Burns Are About to Explode! Terra Luna Classic Will Never Be the Same! 🚀

Big news for the Terra Luna Classic community! The burn rates for $LUNC are gearing up for a major surge. Recently, Binance completed a burn of 1.01 billion LUNC tokens, and the community has collectively burned over 76 billion tokens since the 2022 crisis​(CoinGape)​(CoinGape). With increasing trading volumes and new trading pairs launching, we can expect even more significant burns in the coming months(CoinGape).

Despite some recent market fluctuations, the excitement around $LUNC

🌖 LUNC News: Terra Luna Classic Community Votes On USTC Burn Proposal

The latest USTC burn proposal has gained traction from the Terra Luna Classic community. According to the proposal, it aims to burn a total of 46.55 million USTC through a contract migration, with a specific focus on wallets linked to the Mirror Protocol.

Notably, this move follows a previous attempt to execute a burn proposal that failed due to insufficient contract balances. Now, the community is revisiting the matter, with renewed urgency. TerraForm Labs CEO Chris Amani mentioned in a community wind-down meeting that TFL intends to burn all Terra Classic assets.

Meanwhile, this approach is driven by a need to ensure security and compliance with ongoing legal requirements. According to Amani, the wallets in question will be destroyed rather than leaving keys vulnerable to future access. “Burning would be the best option,” he emphasized.

In additio, the proposal indicates that with a substantial amount of USTC and LUNC linked to these contracts, the community must act swiftly to secure the assets through migration and burn the funds. Besides, it highlights the importance of this action as part of the larger effort to prevent further complications following TFL’s exit from the Terra ecosystem.

🌖 LUNC News: Terra Luna Classic Community Votes On USTC Burn Proposal

LUNC News: The Terra Luna Classic community has recently initiated a USTC burn proposal, which has gained notable traction from the market participants. This initiative follows TerraForm Labs’ recent move to wind down its operations and burn remaining assets, which has noted significant attention from the community members.

Meanwhile, this latest proposal seeks to safeguard the Terra Classic community by removing inactive contracts and burning USTC holdings.

🌖 USTC and LUNC Price Jumps

Amid this LUNC news, Terra Luna Classic ecosystem tokens witnessed a slight jump of 2% in the last 4 hours. The tokens also saw a buying activity in derivatives market as futures open interests climbed more than 2% in last few hours.

LUNC price climbed nearly 2% from the 24-hour low, with the price currently trading at $0.0000858. The 24-hour low and high are $0.00008372 and $0.00008631, respectively. However, the trading volume remained low amid the pressure in the broader crypto market.

Meanwhile, USTC price is trading at $0.01798, up 2% in the last 24 hours. The trading volume saw a 37% jump decline in the last 24 hours.

🌖 LUNC News: Over 726 Million USTC Burned After Proposal Passes

In the major news for the LUNC community today, more than 726 million USTC were burned through Anchor Protocol contract migration. The burn came after the community approved proposal 12135 to burn tokens in wallets of Terraform Labs-owned Anchor Protocol.

The proposal was passed narrowly by the Terra Luna Classic community with 27.23% votes in favor. Among validators, nearly 25% voted “Yes” and 48% voted “Abstain” including Allnodes. However, 92% of delegators supported the proposal as the tokens belong to the community.

The developer migrated Anchor Protocol contract to a new code via governance similar to Risk Harbor. However, the execution on the Mirror Protocol failed to burn 46 million USTC. The proposal is submitted again, but developer claims to investigate the reasons behind the failed execution.

All Terra Luna Classic assets as stated by TFL CEO Chris Amani and ordered by the court judgment should be burned. TFL will not interact with Columbus-5 or Phoenix-1 chains after October 31. Any token burn or transfer will be difficult post the court-approved date.

🌖 LUNC News: Terra Luna Classic Burns 726 Million USTC From Anchor Protocol

LUNC News: Over 726 million USTC were burned after the Terra Luna Classic community approved proposal 12135 to burn tokens in Anchor Protocol via contract migration. With Terraform Labs (TFL) cleared to wind down operations by a US bankruptcy court, the community expects billions of LUNC and USTC burns from related projects.

📈 Bitcoin Breaks Out of Falling Wedge Pattern! 📈
Bitcoin is now breaking the falling wedge pattern, and this is a great sign. A candle close above the trendline will confirm the breakout, potentially pushing BTC towards the $66,000-$66,600 resistance area. 🚀
#Bitcoin

Terra Luna Classic Rejects Burn Tax Increase Proposal, LUNC Price Rises

The Terra Luna Classic community has rejected Proposal 12105 which sought to increase the LUNC burn tax. The Luna Classic Community also opposed the proposal because there was no rationality and proper plan for its implementation. Although the burn tax concept was rejected, conversations about the burn tax are still prevalent in the Terra Luna Classic ecosystem.

Proposal 12105 Faces Strong Opposition
Proposal 12105, which proposed an increase of the burn tax to 1.5%, was met with a lot of opposition from the community and validators. It was condemned as illogical and a “lazy effort.” ’The critics argued that it was only a text proposal and not a parameter change, which would have been incapable of implementing any changes to the burning tax even if passed.

The proposal was just a text proposal, meaning it wouldn’t have altered the burn tax immediately. Even if it had passed, the bill would have required more proposals and discussions. The proposal got only 21.35% votes in favor of it. 32% of voters were against it, and 38% said “No with veto,” meaning that they were against it to the extent that they wanted it vetoed.

Some of the criticisms from both validators and community members included an absence of data, missing strategies, and ambiguous volume. All these problems played a role in its failure, and more work should be done in future proposals to prevent such problems.

LUNC Price Set for 60% Rally

CoinGape reported that TFL and Do Kwon tentatively settled with the U.S. SEC over fraud charges. This agreement follows a jury’s verdict in April, where Kwon and his company were found liable for deceiving investors for nearly $40 billion.

U.S. District Judge Jed Rakoff has asked the SEC and the defendants to file papers supporting the settlement by June 12. The SEC seeks Terraform Labs and Do Kwon to relinquish $5.3 billion for ill-gotten gains from sales of the stablecoin, along with a $420 million fine on the company and a $100 million fine for Kwon.

Terra (LUNA) price jumped 30% in an hour and currently trading 16% higher at $0.70 in the last 24 hours, supported by a 450% leap in trading volumes in the last 24 hours.

Terra Classic ecosystem tokens LUNC and USTC prices also witnessed rallies due to the settlement. LUNC price is trading 9% higher at $0.0001240, with a 24-hour high of $0.000131. The trading volume has increased by over 150% in the last 24 hours, indicating massive interest among traders.

LUNC and 1000LUNC futures open interests recorded a 20% jump in the last 24 hours, as per Coinglass data. In fact, open interest on Binance skyrocketed over 23%. This indicates massive buying by derivatives traders.

Analyst Javon Marks in a post on X said LUNC “setting new post-breakout highs in a run that may only be in extremely early stages!” He predicts a 63% move to $0.00021439 as a result of the breakout.

Why is the LUNC Price Going Up?

Investors have been accumulating LUNC over the past two months in anticipation of the upcoming token burn periodically carried out by Binance. Historically, crypto burns have been bullish catalysts in the crypto market. Investors are optimistic that the upcoming burn event will positively impact LUNC’s price, reflecting this sentiment.

LUNC on-chain burns have been steadily increasing, with a popular Supply Change Tracker bot indicating that an average of 178 million LUNC tokens are burned daily. The total remaining supply of LUNC stands at 6,793,288,228,623. The LUNC community is eagerly anticipating the Binance burn, expecting it to significantly reduce the token supply

Bottom Line
As the LUNC supply dwindles, the value continues to stabilize, further proving to Do Kwon and the overall crypto industry that a united community is the greatest strength any crypto project could have. All eyes are on the Terra Luna Classic price to see how it performs post-burn.

Let’s claim together

LUNC Price: Terra Classic Eyes 26% Gains On Binance Periodic Token Burn Event

Over the past two months, the LUNC price has gradually increased in anticipation of the upcoming LUNC burn by Binance, which is set to occur in two days. Today, Terra Luna Classic (LUNC) is trading at $0.00011, reflecting a 3.5% decrease in the last 24 hours and a 1% decrease over the past week.

LUNC Price Analysis: Bullish Setup May Trigger a 26% Upside in the Short Term
The LUNC price rebounded after a reversal following the March general market rally. Since April 15, the asset has been forming an ascending triangle chart pattern, considered bullish with a 63% probability of breaking to the upside and a 37% chance of breaking downward.

The 200-day moving average is slightly above the current LUNC price, offering some resistance but not enough to push it down significantly. Terra Luna Classic’s price could quickly overcome this resistance with positive news.

If the price breaks upward from the ascending triangle pattern, LUNC could see a 26% increase, reaching $0.000151.

In an inverse scenario, the LUNC price may find support around $0.00009, a level it tested twice in the past six months. The Moving Average Convergence Divergence (MACD) indicator is trending upward and is nearing neutral mark. Additionally, both the LUNC price action and the MACD are moving in the same upward direction, indicating an overall bullish market sentiment for Terra Luna Classic.

This upward trend in the MACD suggests strengthening bullish momentum, reinforcing the possibility of a positive price movement. If the LUNC price breaks above its current resistance levels, it could trigger a significant rally. However, if the price fails to hold, it might find stability at the $0.00009 support level, potentially setting the stage for future upward movements

Did you know...

A grand total of ~$40 million has been distributed to YOU, TON community in the last 3 months.

◼1.4М Toncoin for LP boosts
◼726K Toncoin in airdrops
◼$8.5М in prizes for winning teams
◼4M Toncoin for USDT pools

Total: 6.1M toncoin * 5.2 (average price since 4/03) + $8.5M = $40.22 MILLION DOLLARS.

WOW.

$NFP #NFP/USDT breakout alert

if daily closes above 4450 expect easy profits to come here. if fails to do above retest od 3800-3900 to come and must hold to confirm bullish retest before moon 🤔. for now keep it under extreme alert.

LUNC Price Jumps Amid Rising Sentiment

LUNC price jumped 1% in the last 24 hours with the LUNC price currently trading at $0.0001145. The 24-hour low and high are $0.0001143 and $0.0001207, respectively. Furthermore, trading volume has increased by 70% in the last 24 hours, indicating a rise in interest among traders.

Meanwhile, USTC price is also trading sideways at $0.02237. The 24-hour low and high are $0.02246 and $0.02377, respectively.

Terra Luna Classic Tears Down LUNC Burn Once And For All

The Terra Luna Classic community discarded a proposal to raise the burn tax to 1.5%. The community members expressed their dismay of the recurrent proposals suggesting altering the burn tax, especially an increase in the amount.

Terra Luna Classic Rejects LUNC Burn Proposal
Proposal 12105 “Increase burn tax” is rejected by the Terra Luna Classic community, with most holders criticizing the proposal for lack of reasoning and “lazy effort”. This is a text proposal and not a parameter change, so even if it passed it would not change the tax. A new proposal is required with a compelling description and discussion time on Commonwealth.

The proposal received a mere 21.35% “Yes” votes. Terra Luna Classic community voted 32% “No” and 38% “No with veto” votes, turning down the narrative for revising the burn tax. Validators also voted against the proposal as there is no data to support the tax increase, no complimentary strategies to support the tax increase, and no volume projections.

Recently, the community changed the LUNC burn tax distribution to oracle pool instead of rewards. The proposal has received 70% votes in favor with 37 validators in support of the proposal. Terra Classic has a burn tax set to 0.5%. Out of this, 80% is for burn and 20% is distributed as 10% to Community Pool and 10% to Oracle pool.

Crypto BullRun to END in Q4 2024 - Q1 2025.

After Breaking Previous ATH Prarabolic Move Lasted :

2013 : 8 Months
2017 : 8 Months
2020 : 5 Months
2024 : 5-8 Months

Considering 5-8 Months from now it wll Top in Q4 24 - Q1 25.

It could be extended due to some FOMO events, but every bull run has followed a similar pattern.

Next 5-8 Months are going to be Crazy.

*Always Be Prepared*

Binance Burns Over 59 Billion Terra Luna Classic Tokens in Latest LUNC Burn

Crypto Exchange Binance continues to show true service to the Terra Luna Community by conducting another token burn. According to Lunc Burn Tracker Binance just burned another heap of LUNC tokens totaling the number of tokens burned by the crypto exchange to over 59 Billion.

Usually, Binance conducts LUNC burns on the first day of every month, the crypto exchange decided to up the bar and execute another LUNC burn operation.

The monthly LUNC burns are a key aspect of Binance’s support to the Terra Luna Classic ecosystem, despite a noticeable drop in trading volume in May which has impacted the burn amount expectations for June.

In addition to its monthly burns, this leading crypto exchange by trading volume conducts “surprise” burns of LUNC tokens. By sending another batch of LUNC tokens to the burn wallet, this mechanism reduces the number of LUNC tokens circulating in the crypto market. This is a significant gesture of Binance’s proactive approach to stabilizing and revitalizing the Terra Luna Classic ecosystem.

In early May, Binance took 1.4 billion LUNC to the burn wallet as its 21st batch of LUNC tokens since the initiative began. With the latest token burn of 29,828 LUNC, the number totaled 59.07B tokens.

Binance accounts for 50% of the total LUNC burned. This significant contribution underscores Binance’s major role in the Terra Luna revival efforts.

The Terra LUNA community has wholly contributed to the total burn of 113.71 billion LUNC tokens. Binance has supported Terra LUNA tirelessly with the monthly burns since 2022. The monthly LUNC burn mechanism has been a cornerstone of the community’s efforts to restore LUNC’s price value and stability to the LUNC ecosystem.

Just a fews days to go don’t
miss out on tap swap life you missed out on Not coin..

What telegram airdrop will be next.

LUNC and USTC Prices Jump

Terra Luna Classic ecosystem tokens’ prices jumped amid a massive rise in trading volumes and open interests. However, prices are still trading below key resistance levels.

Terra Classic price jumped 5% in 24 hours and 12% in a week, with the LUNC price currently trading at $0.0001156. The 24-hour low and high are $0.0001103 and $0.0001162, respectively. Furthermore, trading volume has increased by 45% in the last 24 hours, indicating a rise in interest among traders.

1000LUNC and LUNC futures open interests climbed 9% in the past 24 hours, with a 3% net rise in the past hour. The derivatives traders anticipating an increase in prices among positive sentiments in the industry.

Meanwhile, USTC price is also trading sideways at $0.02276. The 24-hour low and high are $0.02204 and $0.02277, respectively. The price is up 22% in this month.