Luna Classic (Former Terra)

Luna Classic (LUNC) is the native token of the original Terra blockchain, which was launched in 2018. Previously, there was an exchange relationship between LUNC and UST, an algorithmic "stablecoin" intended to have a constant value of $1. After UST depegged from $1 in May 2022, the price of LUNA and UST crashed. As a result, the Terra community voted to create a new blockchain. The original Terra blockchain and LUNA token were rebranded as Terra Classic and Luna Classic. The goal of Terraform Labs, the firm that developed the new and old Terra blockchains, is that the protocols and applications of the Terra Classic network will migrate to the new Terra 2 blockchain. As of June 2022, the future utility of the original Terra blockchain is uncertain.

Three cryptocurrency exchanges have announced to implementation of Terra Classic's proposal to reduce taxes on (CRYPTO: LUNC) and (CRYPTO:USTC) on-chain transactions. This comes hours after Binance (CRYPTO: BNB) announced that it would follow a proposal recently approved by the Terra Classic community.

Exchanges Reduce Terra Classic (LUNC) Burn Tax Rate

The Terra Classic contributors adjusted the tax rate on all transactions from 1.2% down to 0.2%. The post Terra Classic developers lower ‘burn tax' rate in bid to revive on-chain activity appeared first on The Block.

Terra Classic developers lower ‘burn tax' rate in bid to revive on-chain activity

Binance's scheme destroyed only 0.08% of LUNC's bloated supply, too minuscule to have a lasting impact on the hyperinflated token.

Luna Classic, Remnant of Terra Collapse, Drops After Underwhelming Binance Burn Mechanism Data

A widely followed digital asset trader and analyst is predicting a massive fall in price for a heavily traded cryptocurrency. Pseudonymous crypto analyst and trader Altcoin Sherpa tells his 183,500 Twitter followers that the original utility token of the collapsed Luna ecosystem, Luna Classic (LUNC), is “going to nuke.

Crypto Trader Says One Altcoin That's Exploded 120% This Month Is About To Nuke – Here's His Target

Even as Interpol has issued a red notice alert for Do Kwon, founder, and CEO of Terraform Labs that wiped out $40 billion of investors' money, the native asset of the old Terra Chain rose by over 40% on Monday. LUNC (CRYPTO: LUNC) is currently trading at $0.00030 at the time of publishing, up about 40% over the previous 24 hours and over 10% for the previous week.

Do Kwan Is On The Run. And LUNC Is On A Run, Surging 40%: How Terra Classic Became The Luna Crisis Proxy

Terra's Luna Classic Pumps 40% as Binance Plots Supply Burn

Terra Classic (LUNC), the remnants of a former top 5 crypto project, is rallying hard on the news that Binance will be implementing a fee-burning mechanism in support of a LUNC community proposal.

Terra Luna Classic (LUNC) Explodes Over 82% After Binance Implements New Fee Burn System

Terra classic rose by over 40% on Monday, as markets reacted to the news that founder Do Kwon was wanted by Interpol. Cosmos also traded higher, rebounding from recent declines. Terra Classic (LUNC) Terra classic was one of Monday's most notable movers, as the token rose by over 40% to start the week.

Biggest Movers: LUNC up 40% on Monday, as Do Kwon Faces Possible Arrest

Terra

Terraform Labs founder Do Kwon is not in Singapore, local police say. Accused of fraud after the collapse of cryptocurrencies luna and terrausd, he is wanted in South Korea after a court issued an arrest warrant for him. However, Kwon insists that he is not “on the run.

Luna Founder Do Kwon Isn't in Singapore, Police Say After South Korean Court Issues His Arrest Warrant

Terra classic rose by as much as 20% in today's session, which comes following a recent bearish streak. Today's rally follows Thursday's drop to a key support point, with bulls using this as an ideal area to reenter. Xrp was also higher, as it moved closer to a long-term resistance level.

Biggest Movers: LUNC up 20% on Saturday, XRP Moves Towards 1-Week High

The crypto analytics firm Santiment argues that one controversial altcoin could replace Dogecoin (DOGE) and Shiba Inu (SHIB) as the most prominent memecoin. In a new analysis, a Santiment analyst known as mtkachuk says the native token of the original Terra blockchain, Luna Classic (LUNC), now holds the “meme king crown.

One Altcoin May Replace Dogecoin (DOGE) and Shiba Inu (SHIB) As Number One Meme Coin, Says Analytics Firm

The era of meme-coins is hardly over but the reigning king of meme-coins appears to have a new face. What Happened: While dog-themed crypto tokens like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) enjoyed their time in the limelight, the crown of “meme-coin king” has been passed to Terra Classic (CRYPTO: LUNC), according to a report from Santiment.

A 'Phoenix Has Risen': This New Meme-Coin King Usurped The Crown From Dogecoin, Shiba Inu

Terra Classic (CRYPTO: LUNC), the native token of the blockchain that crashed and burned earlier this year, has been on a tear over the last few weeks. What Happened: LUNC rallied 460% from $0.000091 on Aug. 8 to $0.000548 on Sept.

Back From The Dead? Terra Classic (LUNC) Rallies 460% In A Month

In an attempt to revive the failed Terra blockchain's token, the approved proposal will destroy 1.2% of every transaction to reduce supply.

Crypto Terra Luna Classic Surges as Traders Speculate on New Supply Burn Rule

A widely-followed crypto trader is expressing bullish sentiment on one altcoin that has surged by triple digits in a fortnight. Pseudonymous crypto analyst Altcoin Sherpa tells his 182,700 Twitter followers that based on the Fibonacci indicator, Luna Classic (LUNC) will continue rallying on the condition that Bitcoin (BTC) and Ethereum (ETH) “hold up.

Top Crypto Trader Says Altcoin That's Exploded 250% in Two Weeks Will Continue Parabolic Run – Here's His Target

The native token of the original Terra blockchain, Luna Classic (LUNC), is surging after a proposal to reward holders with free tokens of its successor blockchain, Terra (LUNA), passed. Starting on September 2nd, Luna Classic surged by slightly over 111% from $0.000215 to a two-month high of $0.000455. Luna Classic is trading at $0.

Terra Luna Classic (LUNC) Erupts Over 111% in Less Than a Week Following News of Second Airdrop

Martin Shkreli, who gained notoriety for jacking up the price of a lifesaving drug by 5000%, says he's working on a decentralized software with applications in the pharmaceutical industry. What Happened: Shkreli said he sees the potential use cases for blockchain in the pharmaceutical industry.

News for Luna Classic (Former Terra) Crypto (LUNC)