LUNC Supply Archives - Times Tabloid https://timestabloid.com/tag/lunc-supply/ Cryptocurrency and Blockchain Tabs Tue, 22 Aug 2023 13:16:03 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://timestabloid.com/wp-content/uploads/2021/08/cropped-Times-Tabloid-Favicon-32x32.png LUNC Supply Archives - Times Tabloid https://timestabloid.com/tag/lunc-supply/ 32 32 LUNC Path to $1? Total Staked Tokens On Terra Classic Network Hits 1 Trillion https://timestabloid.com/lunc-path-to-1-total-staked-tokens-on-terra-classic-network-hits-1-trillion/ Wed, 14 Jun 2023 09:26:00 +0000 https://timestabloid.com/?p=16639 Barely a few weeks after we reported LUNC’s ascent to approximately 970 Billion LUNC tokens locked up in staking contracts, the token finally achieved the landmark of 1 trillion staked coins secured in staking contracts amid the massive selling pressure on the market. While Terra Classic continues to seek means to scale through the strong […]

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]]> Barely a few weeks after we reported LUNC’s ascent to approximately 970 Billion LUNC tokens locked up in staking contracts, the token finally achieved the landmark of 1 trillion staked coins secured in staking contracts amid the massive selling pressure on the market.

While Terra Classic continues to seek means to scale through the strong bearish storm that has paralyzed market activities in the crypto sphere, in addition to the latest enforcement actions by SEC, Terra Classic’s new milestone could open the path to LUNC’s $1 price projection.

Read Also: Terra Classic Proposal to Bring USTC to $1 Passes. Here’s How LUNC would Benefit

Notably, LunaClassic HQ, a community-driven Terra Classic account, disclosed Terra Classsic’s newest achievement via a tweet. The announcement sparked mixed reactions from Twitter users.

What Is StakeBin Saying About Terra Classic’s New Achievement? 

Per StakeBin, a dedicated crypto authority, Terra Classic has succeeded in staking up 1,003,120,789,034 (1 trillion) LUNC coins worth nearly $90 million, implying a remarkable 14% of the asset’s total supply has been staked.

StakeBin also noted that LUNC’s newest feat is a testimony of growing interest from the crypto community, despite the network’s rugged past. The dedicated crypto authority pointed out that users seem confident about the prospects in Terra Classic’s future, which saw them stake their LUNC tokens on the blockchain to earn rewards.

Read Also: Could This Be the Major Reason Why Terra Classic (LUNC) Surged Up To 36% within 24 Hours? Details

Terra Classic (LUNC) Burn Project: What Is The Update So Far?

LUNC’s hope to attain a $1 price level implies that the platform must make concrete efforts to burn down massive LUNC coin supplies. Thus far, Terra Classic has been consistent in its burn project, with over 60.39 billion LUNC tokens burned, reducing its circulating pool to an estimated 5.8 trillion.

It’s worth noting that Binance, the world’s largest exchange, is the highest contributor, having burned down 32 billion LUNC tokens, representing an impressive 50% contribution.

Unfortunately, Binance was charged to court by the United States Securities and Exchange Commission (SEC) for facilitating the sales of some crypto projects which the regulatory body tagged as securities. It is left to see if SEC’s action against Binance will have a significant impact on LUNC’s burn project.

However, per CoinGecko, LUNC’s price at the time of filing this report is $0.00009588, representing a 0.2% spike in the past 24 hours and a 24-hours trading volume of $97,915.

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]]> Terra Classic Circulating Supply Drops Below 6 Trillion As Total LUNC Burned Surpasses 28 Billion https://timestabloid.com/terra-classic-circulating-supply-drops-below-6-trillion-as-total-lunc-burned-surpasses-28-billion/ Fri, 18 Nov 2022 17:27:29 +0000 https://timestabloid.com/?p=12080 Recently, there has been a growing number of projects, both within and outside of the Terra Classic ecosystem, with support for LUNC burning. In consequence, the circulating supply of the community-driven crypto asset continues to decline on a daily basis. The Terra Classic community believes that reducing the circulating supply of LUNC to the 10 […]

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]]> Recently, there has been a growing number of projects, both within and outside of the Terra Classic ecosystem, with support for LUNC burning. In consequence, the circulating supply of the community-driven crypto asset continues to decline on a daily basis.

The Terra Classic community believes that reducing the circulating supply of LUNC to the 10 billion mark could positively impact the price of the asset. Hence, LUNC burning has been among the top priority for the Terra Rebels group. 

According to data retrieved from Terrarity, a platform that tracks LUNC burn and a validator on the Terra Classic network, the total volume of LUNC incinerated has exceeded 28 billion. At the time of writing, the all-time Terra Classic burn volume is 28,055,812,347 LUNC, according to Terrarity. 

Read Also: NFT Marketplace That Supports LUNC Burning Set to Go Live on Terra Classic Blockchain

This further shows that more than 1 billion Terra Classic tokens have been taken out of circulation in 5 days. As earlier reported, all-time LUNC burned surpassed the 27 billion mark on Monday. 

The LUNC burner tracker revealed that out of the more than 28 billion LUNC burned, about 18.4 billion tokens were destroyed by sending them to the LUNC burn address. Per data on Terrarity, approximately 9.67 LUNC were destroyed courtesy of the 0.2% LUNC tax burn placed on all off-chain and on-chain transactions on the Terra Classic network. 

Statistics showed that 443,697,927 LUNC tokens are burned per day. At this daily Terra Classic burn rate, only 826,712,137,371 LUNC would be destroyed in 5 years, which represents only 12% of the token supply. 

Related: Terra Classic Set to Launch a DEX That Supports LUNC Burning 

Notably, Coinmarketcap, the leading crypto-tracking platform recently updated the circulating supply data of LUNC. The current figure shows that the effort of the Terra Classic community regarding LUNC burning is paying off, as the circulating supply has gone below 6 trillion. From over 6.9 trillion tokens in circulation, LUNC’s circulating supply now reads 5,999,383,147,121. 

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]]> CoinMarketCap Updates Critical Terra Classic (LUNC) Data https://timestabloid.com/coinmarketcap-updates-critical-terra-classic-lunc-data/ Tue, 15 Nov 2022 21:30:58 +0000 https://timestabloid.com/?p=11968 Coinmarketcap, the leading cryptocurrency, and price-tracking platform have improved the Terra Classic (LUNC) data available on its website. The recent development will allow users to now track the accurate circulating supply of the embattled LUNC token.  Following the historic de-pegging of TerraClassicUSD (USTC) in May, more LUNC tokens were minted into circulation. This led to […]

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]]> Coinmarketcap, the leading cryptocurrency, and price-tracking platform have improved the Terra Classic (LUNC) data available on its website. The recent development will allow users to now track the accurate circulating supply of the embattled LUNC token. 

Following the historic de-pegging of TerraClassicUSD (USTC) in May, more LUNC tokens were minted into circulation. This led to Coinmarketcap presenting inaccurate data regarding the circulating supply of Terra Classic (LUNC). 

Per a Tuesday update by Classy Crypto, a pseudonymous validator on the Terra Classic network and a top community influencer, LUNC circulating supply has been officially updated on the widely-visited crypto tracking platform, Coinmarketcap. This implies that numeric details about the Terra Classic (LUNC) token have been given a better representation. 

Classy Crypto tweeted, “Just in: LUNC circulating supply on Coinmarketcap has just been updated once again! Seems like LUNC figures are now being better represented!”

Read Also: Terra Classic Ineligible For Industry Recovery Funds Introduced by CZ Binance: Details

Likewise, ReXx of Terra Rebels confirmed the update in a subsequent tweet, adding a direct link for community members to check out the LUNC supply update on the Coinmarketcap website. He wrote, “for those who have been patiently waiting, the LUNC supply on CMC is officially updated.”

Notably, ReXx is an administrator and marketing representative of Terra Rebels, a decentralized community of developers focused on the revitalization of the Terra Classic ecosystem. 

However, some inconsistencies have been spotted in the LUNC circulating supply figures. According to Coinmarketcap, the team has verified the Terra Classic’s circulating supply and total supply to be 6,006,193,608,289 LUNC and 6,879,919,205,657 LUNC respectively. 

Meanwhile, the LUNC burn tracking platform shared in a Monday Twitter post that the circulating supply of Terra Classic is 5,968,159,444,749. 

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