Terra Classic (LUNC) Price Back on Track With Burn Tax Surge

Binance Burns Over 5 Billion Terra Classic ($LUNC)
  • In total, 7 billion LUNC tokens have been burned.
  • Terra Classic has risen by over 14% in the last 7 days.

Following the Binance supports for Terra 1.25 burn tax, Terra classic (LUNC) has seen far less volatility in the price for the last seven days. LUNC maintained a price range of around $0.0002597 to $0.0002956 after the most recent price decreases.

Binance, the world’s largest cryptocurrency exchange by daily trading volume implemented Terra’s 1.2% burn tax on September 26. Within an hour of Binance’s announcement, LUNC’s price surged by more than 45% from $0.0001825 to $0.0003272. In addition, Terra Classic’s price increased by 161% in the past month.

Terra Classic Current Status

There are 6.8 trillion Terra Classics in circulation. The LUNC community’s target fixed supply for LUNC tokens is 10 billion. In total, 7 billion LUNC tokens have been burned, of which 4.2 billion were sent to burning addresses and 2.7 billion were burned via tax.

Since this tax-burning mechanism, Terra Classic prices are increasing significantly. The price of LUNC has risen by over 14% in the last week and by around 30% over the past month. At the time of writing, LUNC traded at $0.0002956 with a trading volume of $599,241,638. LUNC increased by more than 3.08% in the last 24 hours with a market cap of $1,811,063,932, as per CoinMarketCap.

Terra Classic (LUNC) price chart (Source: CoinMarketCap)

Moreover, the LUNC community waiting for the Coinbase exchange to list Terra Classic on their trading. On September 30, the community called Coinbase through several tweets to help them and add LUNC back to their trading list. More than 140k tweets were tweeted by many with the CoinbaseListLUNC hashtag.

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