The Terra ecosystem, which moved to a new network after the big crash in May. One that maintains its old network Terra Classic has community. The Terra Classic community has been able to successfully push the LUNC price to hit the $0.0005 target. Terra Classic, which has a market capitalization of approximately $ 3.5 billion, has already managed to enter the list of top 30 crypto assets. The price jumped 55% in one day and over 300% in the last 10 days. In anticipation of a 1.2% tax cut recommendation, the community has a short-term target target of $0.01.
Terra Classic (LUNC) Enters Top 30 Crypto List
Koinfinans.com As we report, Terra Classic (LUNC) continues to enjoy unprecedented support from the community. With an ongoing massive daily trading volume of over $2 billion, LUNC price has now hit its $0.0005 target. Interestingly, Terra Classic even managed to rank among the top 30 cryptocurrencies according to CoinMarketCap.
LUNC price, increased 37,000% from the bottom price it reached during the Terra ecosystem crisis in May. In fact, the price has increased by about 350% in the last 10 days due to burning, staking, project creation, ecosystem education and governance activities. Currently, over 500 billion LUNC tokens have been staked and approximately 3.62 billion LUNC has been burned.
LUNC price is up over 55% in the last 24 hours, supported by strong trading volume exceeding $2.75 billion. It reached the 24-hour lows and highs of $0.003406 and $0.0005386. Its market cap is approximately $3.5 billion and Monero, Stellar, Bitcoin Cash and other popular cryptocurrency He even managed to outrun his units.
The community had set a short-term target of $0.01 earlier this week. If Terra Classic continues to record over $2 billion in daily trading volume, the price target could reach itself this month.
The community is preparing for a 1.2% tax burn proposal, which will be voted on on September 10. If accepted, the 1.2% tax cut proposal will begin to apply by September 20. Currently, crypto exchanges such as MEXC Global, KuCoin, Gate.io, and CoinInn have agreed to support the offer. It was shared that Binance will also support this update.
1.2% Tax Burn Offer
The governance proposal “1.2% Tax Parameter Change” aims to change the tax to 1.2% and burn tax for on-chain activities such as USTC transfers between LUNC and wallets and smart contracts.
The community aims to make Terra Classic (LUNC) deflationary with the proposal. The offer will increase the burn rate of LUNC tokens and reduce the overall supply. It will also increase the price of the Terra Classic (LUNC).
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.