There has been a boost to the Terra Classic staking initiative in the last few weeks. Within 24 hours, the Terra Classic community members jointly staked a total of 1,762,058,462 LUNC tokens. This implies total LUNC staked now stands at 964.6 billion, representing 14.06% of the asset’s total supply.
This notable surge was shared by a prominent member of the Terra Classic community, Rex “Rexyz” Harrison. According to Rexyz, the community is about 35 billion LUNC away from staking 1 trillion tokens.
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Rex Harrison tweeted, “Just over 35bn to go until 1tr LUNC is taken out of circulation, and 1.8bn of that in 24hrs. Crypto confidence in LUNC is increasing.”
Just over 35bn to go until 1tr $LUNC is taken out of circulation, and 1.8bn of that in 24hrs. #Crypto confidence in #LUNC is increasing. pic.twitter.com/33YY2rnzaO
— Rexyz (@RexYellerBelly) March 13, 2023
Similarly, on the 14th of February, over 3.5 billion tokens were staked in 24 hours. Since that massive surge in the staked LUNC tokens, over 5.9 billion tokens have been stated.
Although stated tokens are not permanently out of the circulating supply, it’s still a bullish signal for any digital because they will be ceased from circulation for a certain period.
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In a show of excitement a few hours ago, Classy, another prominent member of the Terra Classic community, disclosed that the LUNC staked ratio has surpassed 14%.
Classy wrote, “$LUNC STAKING HAS NOW SURPASSED 14%!!!!! LFG.”
$LUNC STAKING HAS NOW SURPASSED 14%!!!!! LFG pic.twitter.com/5aAzRs0Oea
— Classy 🔮 (@ClassyCrypto_) March 12, 2023
Also, Data from StakeBin reveals that the community has staked 9.39 billion tokens over the past week. The majority of these token delegations were made to validators Allnodes and JESUSisLORD.
Notably, 800 million tokens were staked through Allnodes in a single transaction, while a whopping 1.97 billion tokens were recently staked through JESUSisLORD across two separate transactions.
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