Terra Classic

Terra

Foundation

Billion

<ul> 
 <li>The Terra Classic Foundation via the X app revealed that the staking ratio of Terra Classic (LUNC) has surpassed 15%, currently with over a trillion LUNC tokens staked.&nbsp;</li> 
 <li>This significant milestone mirrors the substantial amount of LUNC tokens Binance (currently more than 62 Billion LUNC) has burnt contributing to a total community burn exceeding 125 billion.</li> 
</ul> 
Data from Terra Classic Foundation has <a href="https://x.com/TCF_Terra/status/1809536865386557878" target="_blank" rel="nofollow noopener">revealed </a>that over 1.017 trillion LUNC tokens have been staked, representing roughly $70.15 million at the current market price. This splendid staking ratio of 15.01% showcases how strongly the community is backing the project. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> Terra Luna Classic Staking Ratio Hits 15% With 1T LUNC Staked! 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f539.png" alt="🔹" class="wp-smiley" style="height: 1em; max-height: 1em;"> Over 1 trillion Terra Luna Classic (LUNC) tokens staked. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f539.png" alt="🔹" class="wp-smiley" style="height: 1em; max-height: 1em;"> Staking ratio surges to 15.01%. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f539.png" alt="🔹" class="wp-smiley" style="height: 1em; max-height: 1em;"> Recent LUNC burns by Binance add to optimism. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f539.png" alt="🔹" class="wp-smiley" style="height: 1em; max-height: 1em;"> $70.15 million worth of LUNC staked. 
 Staking reduces… <a href="https://t.co/btFKb1FWi5">pic.twitter.com/btFKb1FWi5</a> 
 — Collin Brown (@CollinBrownXRP) <a href="https://twitter.com/CollinBrownXRP/status/1809580024636248077?ref_src=twsrc%5Etfw">July 6, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
&nbsp;<a href="https://coingape.com/terra-luna-classic-staking-ratio-hits-15-with-1t-lunc-staked/" target="_blank" rel="nofollow noopener">Staking </a>primarily is the locking of tokens thus reducing the circulating supply. This decrease in supply, coupled with increased demand, can potentially drive the price of LUNC upwards. Noteworthy, the staking ratio rose from 14.83%&nbsp; to 15.01%. 
<img loading="lazy" decoding="async" class="wp-image-749985 aligncenter" src="https://www.crypto-news-flash.com/wp-content/uploads/2024/07/20240706_181958-1536x843-1-300x165.jpg" alt="" width="702" height="386" srcset="https://www.crypto-news-flash.com/wp-content/uploads/2024/07/20240706_181958-1536x843-1-300x165.jpg 300w, https://www.crypto-news-flash.com/wp-content/uploads/2024/07/20240706_181958-1536x843-1-1200x659.jpg 1200w, https://www.crypto-news-flash.com/wp-content/uploads/2024/07/20240706_181958-1536x843-1-768x422.jpg 768w, https://www.crypto-news-flash.com/wp-content/uploads/2024/07/20240706_181958-1536x843-1-150x82.jpg 150w, https://www.crypto-news-flash.com/wp-content/uploads/2024/07/20240706_181958-1536x843-1-450x247.jpg 450w, https://www.crypto-news-flash.com/wp-content/uploads/2024/07/20240706_181958-1536x843-1.jpg 1536w" sizes="(max-width: 702px) 100vw, 702px"> 
Binance has played a significant role in reducing the overall supply of Terra Luna Classic tokens. Early this month, Binance, the world’s largest crypto exchange by market volume burnt its 23rd batch (from May 31 to June 29), a burning mechanism that kicked off in early 2022. It is worth noting that Binance alone has burnt more than 62 Billion LUNC tokens contributing to more than&nbsp; 50% of total tokens burnt which amounts to 125 Billion tokens. 
As earlier <a href="https://www.crypto-news-flash.com/bitcoin-eyes-july-rebound-despite-mt-gox-and-regulatory-pressures/" target="_blank" rel="noopener">reported</a> on CNF, the crypto market faced humongous pressure recently due to the Bitcoin price correction. Currently <a href="https://www.crypto-news-flash.com/marketcap/" target="_blank" rel="noopener">exchanging hands </a>at $57,387.77, marking an 8.67% decline in the past week, Bitcoin has undergone a great ordeal after the <a href="https://www.crypto-news-flash.com/mt-gox-sell-off-risk-mitigated-but-uncertainty-remains/" target="_blank" rel="noopener">Mt.Gox repayment</a> news hit headlines and the massive liquidation of the German government. Dropping to lows of $53,550, Bitcoin has sent bearish trends to the altcoin market with Terra Luna Classic being no exception. 
<iframe title="Terra Luna Classic (LUNC) Staking Exceeds 1 Trillion Tokens, Achieving 15% Staking Ratio" width="788" height="443" src="https://www.youtube.com/embed/hg3lT4G7dwA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe> 
At the time of writing LUNC is <a href="https://www.crypto-news-flash.com/marketcap/" target="_blank" rel="noopener">Staking </a>at $0.00007065, representing a noble 3.56% surge in the last 24 hours. Notably,&nbsp; Early March saw LUNC’s price falling from $0.00025 to $0.0000673 by July 5, marking a substantial 73.6% decline. However, on July 7, LUNC price saw a rebound with over 7% gains, trading at $0.00006898. 
<div class="cryptoboxes" id="mcw-431029" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="terra-luna" data-symbol="LUNC" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="day" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
</div>
The recent price increase suggests that a further drop to $0.000052 might be unlikely. To restrict the downturn, the LUNC price needs to break out from $0.00007 and sustain that level. The current market cap for LUNC stands at $376.43 billion. The reduced token supply due to token burns by Binance and community staking can aid in boosting the Terra Luna Classic price. 
The surpassing of 1 trillion staked LUNC tokens and the staking ratio hitting 15% marks a significant milestone for the Terra Luna Classic community. Coupled with continuous support from Binance indicates a positive outlook for LUNC. Additionally, the Terra Luna Classic community is actively working towards reviving the LUNC price. The impressive staking numbers, ongoing burns, and <a href="https://www.crypto-news-flash.com/terra-luna-classic-lunc-community-votes-overwhelmingly-for-burn-tax-distribution-revision/" target="_blank" rel="noopener">Staking</a> on the strategic adjustments to the burn tax distribution indicate a commitment towards success.

Terra Luna Classic (LUNC) Staking Surpasses 1 Trillion Tokens, Staking Ratio Hits 15%

Crypto News Flash

Other articles published on Jul 9, 2024

MoonBag Meme Coin Races Ahead with 88% APY in Presale, Outperforming Brett and Cardano

Institutional Buying Frenzy in Altcoins! Get Ready for Altseason and Major Data Insights This Month!

Crypto Market Rebounds with NOT Surging to $0.016 and ZRO to $4.05

SSV Network Stakes 1M ETH, Enhancing Ethereum’s Security

Bonk DAO Burns Tokens and Increases Value

🚀✨ HODL WEEKLY ROUNDUP: July 1–7, 2024 ✨🚀

Join our free newsletter for daily crypto updates!