Coin exchange rate
$BTC 60953.69 USD (-0.54%) 🔴$LUNC 0.00008246 USD (-0.53%) 🔴$LUNA 0.42715206 USD (-1.09%) 🔴Terra Luna Classic Loses BtcTurk Listing After Disastrous Hack
BtcTurk, the largest Turkish cryptocurrency exchange, was hit by a massive cyber attack over the weekend. The exchange claimed that one out of every ten crypto balances in its hot wallets were affected and that LUNC would be delisted. Famed on-chain detective ZachXBT chimed in to estimate a total damage of $54.20 million.
Further Research Hints at $90M Missing
ZachXBT counted 1.96 million Avalanche (AVAX) tokens in a suspicious crypto address. The address was used to siphon digital assets from BtcTurk and later swapped into assets on Coinbase and THORChain.
Upon closer examination by blockchain security audit company CertiK, it was determined that over $90 million of crypto funds were drained from the platform.
The major security breach triggered a massive sell-off of certain cryptocurrencies that the fraudsters managed to get their hands on. Besides the 1.96M AVAX coins spotted by ZachXBT, 350,000,000,000 Terra Luna Classic (LUNC) tokens were drained from BtcTurk’s treasury.
These LUNC coins, equaling $28.55 million, were moved between crypto wallets in an attempt to conceal the origin of the funds. Upon further investigation by DailyCoin, the fraudsters first cashed out 325B LUNC tokens from one of BtcTurk’s hot wallets. These digital assets were conveyed to multiple decoy wallets on Terra Classic’s chain before finally being deposited to Binance.
BtcTurk, the largest Turkish cryptocurrency exchange, was hit by a massive cyber attack over the weekend. The exchange claimed that one out of every ten crypto balances in its hot wallets were affected and that LUNC would be delisted. Famed on-chain detective ZachXBT chimed in to estimate a total damage of $54.20 million.
Further Research Hints at $90M Missing
ZachXBT counted 1.96 million Avalanche (AVAX) tokens in a suspicious crypto address. The address was used to siphon digital assets from BtcTurk and later swapped into assets on Coinbase and THORChain.
Upon closer examination by blockchain security audit company CertiK, it was determined that over $90 million of crypto funds were drained from the platform.
The major security breach triggered a massive sell-off of certain cryptocurrencies that the fraudsters managed to get their hands on. Besides the 1.96M AVAX coins spotted by ZachXBT, 350,000,000,000 Terra Luna Classic (LUNC) tokens were drained from BtcTurk’s treasury.
These LUNC coins, equaling $28.55 million, were moved between crypto wallets in an attempt to conceal the origin of the funds. Upon further investigation by DailyCoin, the fraudsters first cashed out 325B LUNC tokens from one of BtcTurk’s hot wallets. These digital assets were conveyed to multiple decoy wallets on Terra Classic’s chain before finally being deposited to Binance.
Terra Luna Classic Dumps 20% After Hack
Prominent Terra Luna Classic community members are tying the $90 million BtcTurk hack to LUNC’s plunge last weekend, but the community is divided on how it will affect performance. LUNC plummeted to a three-month low of $0.00007362 on June 22.
LUNC’s association with the hack also contributed to its shrinking market cap, which dipped by nearly $100 million due to the incident.
However, Terra Luna Classic’s funding and burning mechanism offered a silver lining in this story. According to the newly implemented LUNC burn tax rules, every transaction contributes to the Community Pool (CP), a long-term fund aimed at pursuing LUNC’s restoration plans.
The devastating BtcTurk hacking incident poured 800,000,000 LUNC tokens into the CP, which can be allocated to new development projects. The hackers’ overcomplicated transactions to erase traces of malicious activity have contributed to LUNC’s daily burns, adding a hefty 6.5B LUNC to the community’s bonfire.
As of press time, Terra Luna Classic is trading at $0.00008052, up 7.6% over the past 24 hours. Despite the soft rebound rally, LUNC has been 23% down in the last two weeks. The community is left on edge about the coin’s future, as portrayed in a question in LUNC Ninja’s thread: “Has the sell-off by this entity ended?”
Prominent Terra Luna Classic community members are tying the $90 million BtcTurk hack to LUNC’s plunge last weekend, but the community is divided on how it will affect performance. LUNC plummeted to a three-month low of $0.00007362 on June 22.
LUNC’s association with the hack also contributed to its shrinking market cap, which dipped by nearly $100 million due to the incident.
However, Terra Luna Classic’s funding and burning mechanism offered a silver lining in this story. According to the newly implemented LUNC burn tax rules, every transaction contributes to the Community Pool (CP), a long-term fund aimed at pursuing LUNC’s restoration plans.
The devastating BtcTurk hacking incident poured 800,000,000 LUNC tokens into the CP, which can be allocated to new development projects. The hackers’ overcomplicated transactions to erase traces of malicious activity have contributed to LUNC’s daily burns, adding a hefty 6.5B LUNC to the community’s bonfire.
As of press time, Terra Luna Classic is trading at $0.00008052, up 7.6% over the past 24 hours. Despite the soft rebound rally, LUNC has been 23% down in the last two weeks. The community is left on edge about the coin’s future, as portrayed in a question in LUNC Ninja’s thread: “Has the sell-off by this entity ended?”
Coin exchange rate
$BTC 61394.394 USD (+0.73%) 🟢$LUNC 0.00008083 USD (-1.99%) 🔴$LUNA 0.42064528 USD (-1.52%) 🔴LUNC Price To Rally Amid Massive Binance Burn As Over 1 Trillion LUNC Staked
Terra Luna Classic community looks for a massive LUNC burn in the next week by crypto exchange Binance as part of its LUNC burn mechanism. LUNC saw its total supply drop to 6.78 trillion after the enormous trading volumes and burn recently.
Delegators have also staked significantly with Terra Luna Classic validators, bringing the total LUNC staked to over 1 trillion.
Terra Luna Classic Community Eyes Massive Burn
Terra Luna Classic community awaits Binance LUNC burn mechanism to provide the necessary push to reduce LUNC tokens supply. Massive trading volumes this month sparked speculation of a higher amount of LUNC burn by Binance. The crypto exchange has burned nearly 60.42 billion LUNC, accounting for 48.8% of the total LUNC burned by the community.
The community has burned nearly 124 billion LUNC until now, with 71 billion by sending to burn wallet and 53 billion through on-chain burn.
In the last 7 days, almost 7 billion LUNC burn came from as whales and investors moved LUNC from centralized crypto exchanges. Total fees accrued from these transactions were 8.34 billion LUNC.
Total LUNC staked has skyrocketed to above 1 trillion, providing enough support from validators and the community. The staking ratio has increased to 14.83%. Moreover, the community pool reserve saw the required boost, with 6.22 billion LUNC and 12.37 million USTC. It gives the community enough funds for development activity.
Terra Luna Classic community looks for a massive LUNC burn in the next week by crypto exchange Binance as part of its LUNC burn mechanism. LUNC saw its total supply drop to 6.78 trillion after the enormous trading volumes and burn recently.
Delegators have also staked significantly with Terra Luna Classic validators, bringing the total LUNC staked to over 1 trillion.
Terra Luna Classic Community Eyes Massive Burn
Terra Luna Classic community awaits Binance LUNC burn mechanism to provide the necessary push to reduce LUNC tokens supply. Massive trading volumes this month sparked speculation of a higher amount of LUNC burn by Binance. The crypto exchange has burned nearly 60.42 billion LUNC, accounting for 48.8% of the total LUNC burned by the community.
The community has burned nearly 124 billion LUNC until now, with 71 billion by sending to burn wallet and 53 billion through on-chain burn.
In the last 7 days, almost 7 billion LUNC burn came from as whales and investors moved LUNC from centralized crypto exchanges. Total fees accrued from these transactions were 8.34 billion LUNC.
Total LUNC staked has skyrocketed to above 1 trillion, providing enough support from validators and the community. The staking ratio has increased to 14.83%. Moreover, the community pool reserve saw the required boost, with 6.22 billion LUNC and 12.37 million USTC. It gives the community enough funds for development activity.
LUNC and USTC Price Performance
The Terra Luna Classic community has not yet accounted LUNC and USTC burn from Terraform Labs and Luna Foundation Guard wallets. Terraform Labs CEO Chris Amani confirmed to the Terra Classic community that LUNC and USTC in the TFL and LFG wallets will be burned.
The community will also implement Tax2Gas with the potential to increase LUNC burn massively in the coming months. It is expected to be completed by July.
Terra Classic price trading mostly sideways in the last 24 hours, with the price currently trading at $0.00008137. The 24-hour low and high are $0.000081 and $0.000083, respectively. Moreover, trading volume has decreased by 53% in the last 24 hours, indicating a lack of interest among traders.
The burn events are going to bring enough trading volumes and upside price action, with a breakout above $0.000090 confirming further uprise move.
Meanwhile, USTC price also fell over 0.62% as trading volumes dipped by 40% in the last 24 hours. The 24-hour low and high are $0.01758 and 0.01815, respectively.
The Terra Luna Classic community has not yet accounted LUNC and USTC burn from Terraform Labs and Luna Foundation Guard wallets. Terraform Labs CEO Chris Amani confirmed to the Terra Classic community that LUNC and USTC in the TFL and LFG wallets will be burned.
The community will also implement Tax2Gas with the potential to increase LUNC burn massively in the coming months. It is expected to be completed by July.
Terra Classic price trading mostly sideways in the last 24 hours, with the price currently trading at $0.00008137. The 24-hour low and high are $0.000081 and $0.000083, respectively. Moreover, trading volume has decreased by 53% in the last 24 hours, indicating a lack of interest among traders.
The burn events are going to bring enough trading volumes and upside price action, with a breakout above $0.000090 confirming further uprise move.
Meanwhile, USTC price also fell over 0.62% as trading volumes dipped by 40% in the last 24 hours. The 24-hour low and high are $0.01758 and 0.01815, respectively.
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$BTC 63209.044 USD (+2.95%) 🟢$LUNC 0.00008240 USD (+1.93%) 🟢$LUNA 0.43100662 USD (+2.5%) 🟢Can Terra Classic Rise From The Ashes? Analyst Foresees 1,500% Price Increase
Terra Classic (LUNC), the phoenix attempting to rise from the ashes of the infamous TerraUSD crash, is once again capturing investor attention. Coincodex analysts predict a modest 10.7% price increase by July 25th, while renowned crypto analyst Javon Marks throws a much bolder 1,500% surge into the ring. So, is LUNC poised for a bullish breakout, or is this just another mirage in the volatile crypto desert?
A Token Reborn: LUNC Capitalizes On Market Volatility
LUNC, once the backbone of the collapsed TerraUSD (USTC) stablecoin ecosystem, has defied expectations. While USTC lost its peg to the US dollar and spiraled into oblivion, LUNC has exhibited surprising resilience.
The past 24 hours saw an 82% price jump, showcasing continued investor interest in the controversial token. This resilience coincides with a broader market trend where investors, wary of traditional assets, are seeking refuge in digital currencies perceived as having strong recovery potential.
Terra Classic (LUNC), the phoenix attempting to rise from the ashes of the infamous TerraUSD crash, is once again capturing investor attention. Coincodex analysts predict a modest 10.7% price increase by July 25th, while renowned crypto analyst Javon Marks throws a much bolder 1,500% surge into the ring. So, is LUNC poised for a bullish breakout, or is this just another mirage in the volatile crypto desert?
A Token Reborn: LUNC Capitalizes On Market Volatility
LUNC, once the backbone of the collapsed TerraUSD (USTC) stablecoin ecosystem, has defied expectations. While USTC lost its peg to the US dollar and spiraled into oblivion, LUNC has exhibited surprising resilience.
The past 24 hours saw an 82% price jump, showcasing continued investor interest in the controversial token. This resilience coincides with a broader market trend where investors, wary of traditional assets, are seeking refuge in digital currencies perceived as having strong recovery potential.
Analyst Divided: Measured Optimism Vs. Moon Shot
Coincodex paints a picture of cautious optimism. Their prediction of a 10.7% rise suggests LUNC may experience a slow and steady climb. This aligns with the “Fear & Greed Index” which currently sits at a moderate “Fear” level, indicating a cautious market.
However, analyst Javon Marks throws a wrench into the mix with a far more audacious prediction. Marks posits a potential 1,500% price surge, targeting a price of $0.00139122. This bullish outlook hinges on the idea that LUNC is nearing a breakout phase, fueled by a combination of its recent price gains and historical data.
A Balancing Act Of Hype And Reality
While Marks’ prediction is certainly enticing, historical trends in the cryptocurrency market are littered with failed “moon shot” predictions. The extreme volatility inherent in the crypto space makes long-term price forecasting notoriously unreliable.
Additionally, technical indicators currently lean bearish, suggesting potential short-term price dips. Investors should also consider the ongoing legal battles surrounding the Terra ecosystem, which could cast a shadow on LUNC’s future.
Terra Classic Rejects Validator Expansion Proposal
Meanwhile, the Terra Luna Classic community has rejected Proposal 12116, which sought to increase the blockchain’s validator set from 100 to 130. This proposal emerged in the wake of a $4.5 billion settlement between Terraform Labs, founder Do Kwon, and the US Securities and Exchange Commission. The aim was to enhance the network’s decentralization by incorporating validators from Terra Luna v2, potentially signaling a move towards unification within the Terra ecosystem.
However, the proposal did not gain sufficient support in the community’s governance voting. Concerns about integrating Luna v2 validators, the potential impacts on network security and performance, and the desire to maintain a distinct identity for Terra Luna Classic were significant factors in the decision.
Coincodex paints a picture of cautious optimism. Their prediction of a 10.7% rise suggests LUNC may experience a slow and steady climb. This aligns with the “Fear & Greed Index” which currently sits at a moderate “Fear” level, indicating a cautious market.
However, analyst Javon Marks throws a wrench into the mix with a far more audacious prediction. Marks posits a potential 1,500% price surge, targeting a price of $0.00139122. This bullish outlook hinges on the idea that LUNC is nearing a breakout phase, fueled by a combination of its recent price gains and historical data.
A Balancing Act Of Hype And Reality
While Marks’ prediction is certainly enticing, historical trends in the cryptocurrency market are littered with failed “moon shot” predictions. The extreme volatility inherent in the crypto space makes long-term price forecasting notoriously unreliable.
Additionally, technical indicators currently lean bearish, suggesting potential short-term price dips. Investors should also consider the ongoing legal battles surrounding the Terra ecosystem, which could cast a shadow on LUNC’s future.
Terra Classic Rejects Validator Expansion Proposal
Meanwhile, the Terra Luna Classic community has rejected Proposal 12116, which sought to increase the blockchain’s validator set from 100 to 130. This proposal emerged in the wake of a $4.5 billion settlement between Terraform Labs, founder Do Kwon, and the US Securities and Exchange Commission. The aim was to enhance the network’s decentralization by incorporating validators from Terra Luna v2, potentially signaling a move towards unification within the Terra ecosystem.
However, the proposal did not gain sufficient support in the community’s governance voting. Concerns about integrating Luna v2 validators, the potential impacts on network security and performance, and the desire to maintain a distinct identity for Terra Luna Classic were significant factors in the decision.
Coin exchange rate
$BTC 62548.402 USD (-1.07%) 🔴$LUNC 0.00008062 USD (-2.18%) 🔴$LUNA 0.42256269 USD (-1.97%) 🔴With Bitcoin At $60K Slump, Will Terra Coins Make A Comeback?
Despite the Bitcoin price taking a hit to $60K, the altcoins make a comeback with a recovery rally. In this reversal, the Terra Luna (LUNA) and Terra Classic (LUNC) kicked off a bullish jump last night.
Taking support from crucial levels, will the Terra tokens form a new lower high? Or is the recovery rally ready for a breakout rally in 2024?
Let’s look closer at the LUNA and LUNC price charts to find out the upside potential.
Will Luna Classic Challenge Overhead Trendline?
With a long-term resistance trendline in the daily chart, the LUNC price chart displays a massive correction spree. The Terra Classic price trend reveals a lower high formation and a failed rising channel pattern.
Breaking under the rising channel, the recent sell-off from the resistance trendline accounts for a 30% drop. Following the downfall, the Terra Classic price forms a morning star pattern at $0.000076.
Currently, the Terra Classic token trades at $0.000081 following the $8.76% jump last night. This completes the morning star with a bullish engulfing candle.
If the bull run is sustained, the uptrend can result in a new peak at the resistance trendline, which is near $0.00010. However, a breakout of the psychological resistance can result in a trendline breakout for an extended bull run.
With this trend reversal, the uptrend in the LUNC price can reach the 50% Fibonacci level at $0.00015.
Despite the Bitcoin price taking a hit to $60K, the altcoins make a comeback with a recovery rally. In this reversal, the Terra Luna (LUNA) and Terra Classic (LUNC) kicked off a bullish jump last night.
Taking support from crucial levels, will the Terra tokens form a new lower high? Or is the recovery rally ready for a breakout rally in 2024?
Let’s look closer at the LUNA and LUNC price charts to find out the upside potential.
Will Luna Classic Challenge Overhead Trendline?
With a long-term resistance trendline in the daily chart, the LUNC price chart displays a massive correction spree. The Terra Classic price trend reveals a lower high formation and a failed rising channel pattern.
Breaking under the rising channel, the recent sell-off from the resistance trendline accounts for a 30% drop. Following the downfall, the Terra Classic price forms a morning star pattern at $0.000076.
Currently, the Terra Classic token trades at $0.000081 following the $8.76% jump last night. This completes the morning star with a bullish engulfing candle.
If the bull run is sustained, the uptrend can result in a new peak at the resistance trendline, which is near $0.00010. However, a breakout of the psychological resistance can result in a trendline breakout for an extended bull run.
With this trend reversal, the uptrend in the LUNC price can reach the 50% Fibonacci level at $0.00015.
Will Terra Luna Reach $0.00017?
Similar to the Terra Classic price chart, the LUNA price trend shows a similar downtrend with a strong resistance trendline at play. Mimicking a similar rising channel breakdown, the Terra (LUNA) price drops by 40% in two weeks.
With the breakdown rally taking support at the $0.000070 mark with lower price rejections, the altcoin teases a comeback. Further, the overnight jump teases a bullish crossover in the MACD indicator while the RSI line takes off from the oversold boundary.
If the reversal rally sustains momentum, the uptrend in the Terra token price can challenge the overhead trendline at $0.00012. However, the resistances at $0.00010 and $0.00011 can result in some hiccups along the way.
Similar to the Terra Classic price chart, the LUNA price trend shows a similar downtrend with a strong resistance trendline at play. Mimicking a similar rising channel breakdown, the Terra (LUNA) price drops by 40% in two weeks.
With the breakdown rally taking support at the $0.000070 mark with lower price rejections, the altcoin teases a comeback. Further, the overnight jump teases a bullish crossover in the MACD indicator while the RSI line takes off from the oversold boundary.
If the reversal rally sustains momentum, the uptrend in the Terra token price can challenge the overhead trendline at $0.00012. However, the resistances at $0.00010 and $0.00011 can result in some hiccups along the way.
Coin exchange rate
$BTC 60800.538 USD (-2.83%) 🔴$LUNC 0.00008034 USD (-0.35%) 🔴$LUNA 0.41119336 USD (-2.69%) 🔴The Terra Classic Foundation recently made a significant announcement on X (formerly Twitter). The Terra Luna Classic team has delegated an additional 30 million LUNC to Hexxagon. This brings their total delegation on Terra Classic to a substantial 930 million LUNC. The Foundation expressed optimism about the future, celebrating the milestone.
Hexxagon is a key player in the Terra Luna Classic ecosystem. It runs and maintains important platforms like Galaxy Station and Galaxy Finder. These platforms are crucial for the Terra Classic community. Moreover, they offer node hosting and staking services, ensuring the smooth operation of the network.
Background On Hexxagon In Terra Luna Classic Community
Almost a year ago, on July 28, 2023, Terra Luna Classic‘s core developer group, Joint L1 Task Force (L1TF), unveiled a collaboration with Hexxagon. Hexxagon is not just a validator but also a team of skilled developers. The collaboration aimed to enhance security for the community-owned Station, Finder, and web wallet extension.
However, the community had mixed reactions to this partnership. The skepticism stemmed from Hexxagon’s links to the developer group Terra Rebels, which the community distrusts. Despite this, the partnership went ahead with a clear goal: to build a secure, community-owned wallet. This initiative was funded through Proposal 11645, which the community approved.
Hexxagon took on the responsibility of developing key components like the Station, Finder, and wallet web extension. They also manage the maintenance and infrastructure related to these platforms. In addition, the Joint L1 Task Force assists by conducting assessments, reviewing, and checking all pull requests to ensure everything runs smoothly.
A unique aspect of this collaboration is the operational structure. Hexxagon and L1TF operate under the same account, owned by the Joint L1 Task Force. The alliance is known as the Terra Classic Task Force. Professor Edward Kim has authority over the “terraclassic community” domain, adding another layer of oversight.
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The recent delegation of 30 million LUNC to Hexxagon has garnered attention within the Terra Classic community. Most members view this as a positive step towards strengthening the network’s infrastructure. Moreover, they believe that Hexxagon’s involvement will enhance the reliability and security of the Terra Classic ecosystem.
From an economic perspective, this significant delegation could impact the price of LUNC. Increased delegation often signals confidence in the network, which can attract more investors. If Hexxagon successfully enhances the network’s infrastructure, it could lead to increased usage and demand for LUNC.
However, the community’s trust is crucial. If Hexxagon and L1TF can demonstrate transparency and effective management, it might positively influence LUNC price. Conversely, any missteps could lead to volatility and uncertainty due to the network’s infamous history.
At press time, the Terra Classic price was down by 1.83% to $0.00008063 on Tuesday, July 2. Meanwhile, the LUNC market capitalization stood at $441.41 million. Whilst, Terra Classic trading volume slumped 7.59% to $14.24 million.
However, the Terra Luna Classic community has rallied efforts to initiate LUNC token burns. On Monday, Binance, the biggest cryptocurrency exchange in the world, sent 1.7 billion Terra Luna Classic (LUNC) tokens to its burn wallet. This marks the 23rd batch in Binance’s ongoing effort to reduce the LUNC supply.
With this latest transaction, Binance has burned almost 62 billion LUNC in total. Moreover, the Terra Luna Classic community has collectively burned more than 125 billion LUNC tokens so far. Since 2022, Binance has supported the Terra Luna Classic community’s revival efforts through its monthly token burn mechanism.
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Terra Luna Classic To Remove 18 Billion LUNC From Supply, Will LUNC And USTC Rally?
Terra Luna Classic community to burn 12 billion in LUNC and 68 million USTC in contracts including Lido DAO rewards dispatcher, removing them completely from supply. The move comes as the community started removing LUNC and USTC from circulating circulating supply for revival and repeg to $1.
Terra Luna Classic 12 billion LUNC Burn
The Terra Luna Classic community takes out 12 billion in LUNC and 68 million USTC from circulation. It is the second largest removal from the circulating supply after the recent 7 billion LUNC burned in burn tax that saw 8.34 billion total fees accrued in a single day.
The massive 12 billion LUNC will be burned from Anchor bLuna rewards and Lido rewards dispatcher contracts, as per a proposal. Also, the changes are live on the CoinMarketCap and CoinGecko. Since the contract owner has invalidated itself, the Terra Luna Classic community now owns the contracts.
“These funds are locked since Lido DAO passed a proposal on June 22, 2022 to make all Lido contracts on Terra Classic non upgradable and make their ownership invalid,” revealed an X account named Terra Classic Foundation.
The governance voting on the proposed burn to begin soon to get the community’s approval on burning these funds. Terra Luna Classic developers also remove other LUNC and USTC from circulation that will be burned over time. The community removed 93 million LUNC and 87 million USTC in the Terra Shuttle Bridge (BSC) contract from the circulating supply.
Terra Luna Classic community to burn 12 billion in LUNC and 68 million USTC in contracts including Lido DAO rewards dispatcher, removing them completely from supply. The move comes as the community started removing LUNC and USTC from circulating circulating supply for revival and repeg to $1.
Terra Luna Classic 12 billion LUNC Burn
The Terra Luna Classic community takes out 12 billion in LUNC and 68 million USTC from circulation. It is the second largest removal from the circulating supply after the recent 7 billion LUNC burned in burn tax that saw 8.34 billion total fees accrued in a single day.
The massive 12 billion LUNC will be burned from Anchor bLuna rewards and Lido rewards dispatcher contracts, as per a proposal. Also, the changes are live on the CoinMarketCap and CoinGecko. Since the contract owner has invalidated itself, the Terra Luna Classic community now owns the contracts.
“These funds are locked since Lido DAO passed a proposal on June 22, 2022 to make all Lido contracts on Terra Classic non upgradable and make their ownership invalid,” revealed an X account named Terra Classic Foundation.
The governance voting on the proposed burn to begin soon to get the community’s approval on burning these funds. Terra Luna Classic developers also remove other LUNC and USTC from circulation that will be burned over time. The community removed 93 million LUNC and 87 million USTC in the Terra Shuttle Bridge (BSC) contract from the circulating supply.
LUNC Price To Hit $0.0001 In July?
LUNC price dropped over 1% in the past 24 hours, with the price currently trading at $0.00008196. The 24-hour low and high are $0.00008050 and $0.00008366, respectively. However, trading volume has decreased further by 21% in the last 24 hours.
Binance LUNC burn, Terraform Labs’ LUNC and USTC burn, and Tax2Gas implementation in July to provide the necessary push in LUNC price, with the community expecting a recovery above $0.0001.
Meanwhile, USTC price trades at $0.01783, down 1.5% in the last 24 hours. The 24-hour low and high are $0.01755 and $0.01802, respectively. Trading volume has decreased by 12%, indicating a dip in interest among traders.
In the derivatives market, LUNC and 1000LUNC futures open interests have fell in the last 24 hours. Traders now awaiting the monthly close and further cues from macro for trading in July.
LUNC price dropped over 1% in the past 24 hours, with the price currently trading at $0.00008196. The 24-hour low and high are $0.00008050 and $0.00008366, respectively. However, trading volume has decreased further by 21% in the last 24 hours.
Binance LUNC burn, Terraform Labs’ LUNC and USTC burn, and Tax2Gas implementation in July to provide the necessary push in LUNC price, with the community expecting a recovery above $0.0001.
Meanwhile, USTC price trades at $0.01783, down 1.5% in the last 24 hours. The 24-hour low and high are $0.01755 and $0.01802, respectively. Trading volume has decreased by 12%, indicating a dip in interest among traders.
In the derivatives market, LUNC and 1000LUNC futures open interests have fell in the last 24 hours. Traders now awaiting the monthly close and further cues from macro for trading in July.
Coin exchange rate
$BTC 54373.441 USD (-6.52%) 🔴$LUNC 0.00006279 USD (-14.17%) 🔴$LUNA 0.32455968 USD (-15.01%) 🔴LUNC News: Terra Classic Community Claims Coinbase-Backed Karak Stole 200M USTC
LUNC News: Terra Luna Classic community members seek 200 million USTC from Coinbase and Pantera Capital-backed Karak Network, claiming Karak co-founder Raouf Ben-Har has stolen the crypto asset worth millions.
Meanwhile, the community has made significant efforts to remove 93 million LUNC and 87 million USTC in the Terra Shuttle Bridge (BSC) contract from circulating supply.
Terra Luna Classic Seeks 200 Million USTC
Terra Luna Classic developer RedlineDrifter reignited buzz in the community regarding the missing 200 million USTC. He alleges that Coinbase and Pantera Capital-backed Karak Network has not returned USTC worth $8 million that belongs to the community.
RedlineDrifter pointed out Karak Network co-founder Raouf Ben-Har for missing crypto assets that date back to when he operated under Risk Harbor. The Risk Harbor team is now rebranded to Andalusia Labs. The Terra Luna Classic community claims Risk Harbor team used an admin function to withdraw 200 million UST (now USTC).
The community member joined BNB Chain X space featuring Karak Network, Lista DAO, and Listapie to ask about the missing 200 million USTC. Notably, Terra Luna Classic community has burned 800 million USTC and taken out of circulating supply.
“No user funds were ever touched. Foundation sold UST that the Terra Foundation minted and provided (which eventually dissolved) for pennies on the dollar after riding it down to 0, which will carry forward to Karak. Simple as that.” said Victor Cheng, CSO at Karak Network.
LUNC News: Terra Luna Classic community members seek 200 million USTC from Coinbase and Pantera Capital-backed Karak Network, claiming Karak co-founder Raouf Ben-Har has stolen the crypto asset worth millions.
Meanwhile, the community has made significant efforts to remove 93 million LUNC and 87 million USTC in the Terra Shuttle Bridge (BSC) contract from circulating supply.
Terra Luna Classic Seeks 200 Million USTC
Terra Luna Classic developer RedlineDrifter reignited buzz in the community regarding the missing 200 million USTC. He alleges that Coinbase and Pantera Capital-backed Karak Network has not returned USTC worth $8 million that belongs to the community.
RedlineDrifter pointed out Karak Network co-founder Raouf Ben-Har for missing crypto assets that date back to when he operated under Risk Harbor. The Risk Harbor team is now rebranded to Andalusia Labs. The Terra Luna Classic community claims Risk Harbor team used an admin function to withdraw 200 million UST (now USTC).
The community member joined BNB Chain X space featuring Karak Network, Lista DAO, and Listapie to ask about the missing 200 million USTC. Notably, Terra Luna Classic community has burned 800 million USTC and taken out of circulating supply.
“No user funds were ever touched. Foundation sold UST that the Terra Foundation minted and provided (which eventually dissolved) for pennies on the dollar after riding it down to 0, which will carry forward to Karak. Simple as that.” said Victor Cheng, CSO at Karak Network.
USTC and LUNC Prices Performance
USTC price trades at $0.01808, down 1% in the last 24 hours. The 24-hour low and high are $0.01803 and $0.01842, respectively. Trading volume has decreased by 32%, indicating a dip in interest among traders.
Meanwhile, LUNC price has jumped 1% in the past 24 hours, with the price currently trading at $0.00008329. The 24-hour low and high are $0.00008159 and $0.00008396, respectively. However, trading volume has decreased 23% in the last 24 hours.
The community expects a significant recovery in prices after Binance LUNC burn and Tax2Gas implementation in July.
USTC price trades at $0.01808, down 1% in the last 24 hours. The 24-hour low and high are $0.01803 and $0.01842, respectively. Trading volume has decreased by 32%, indicating a dip in interest among traders.
Meanwhile, LUNC price has jumped 1% in the past 24 hours, with the price currently trading at $0.00008329. The 24-hour low and high are $0.00008159 and $0.00008396, respectively. However, trading volume has decreased 23% in the last 24 hours.
The community expects a significant recovery in prices after Binance LUNC burn and Tax2Gas implementation in July.