The Terra Classic community has been dealt a huge blow, as LUNC is on the verge of being delisted from Crypto.com. While there is no official confirmation, some users shared screenshots of the emails they received on X.
Despite LUNC’s efforts to recover from the Terra LUNA crash and spectacular surges in late 2023, the broader crypto world might be losing faith in the struggling LUNC ecosystem.
Read Also: Here’s the Major Reason Why Terra Classic (LUNC) Is Facing Downtrend Today
X user zkDomains (@zkdomains) shared the news on X, asking the community if they held their tokens on Crypto.com. Another user corroborated the receipt of the same message from the exchange.
According to the email, LUNC trading on Crypto.com will be suspended on February 15, giving the community less than a month to move their tokens.
#LUNCCommunity do you hold on Crypto[.]com? pic.twitter.com/JjdMyeOM5d
— zkDomains 🪶 (@zkdomains) January 18, 2024
Why Terra Classic (LUNC) Is Being Delisted?
Terra Classic (LUNC) has been highly volatile in recent months. Despite surging as high as $0.00025 in early December and reigniting the community’s hope of a resurgence, LUNC has declined drastically since then.
Terra Classic (LUNC) is currently trading at $0.0001111, down 33.09% in the past month, and 31.30% down from its price at this time last year, raising concerns about its stability and market liquidity.
Exchanges often delist assets with consistently low trading volume or high price volatility to mitigate risks for their users. However, LUNC is not the only cryptocurrency with poor performance, and Crypto.com may have more notable reasons.
LUNC validators also recently rejected a proposal for EVM integration. This move could have been the start of significant improvements for the ecosystem.
However, some users on Reddit have a different opinion on the situation. One user suggested that LUNC is on the brink of a surge, and Crypto.com does not have enough money to pay users when it reaches $1, hence the move to delist the token.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: ChatGPT Sets Terra Classic (LUNC) Price For December 31, 2023
What’s Next for Terra Classic (LUNC)?
Regardless of the specific reason, the move would be a significant setback for the Terra Classic community. Crypto.com is a major exchange with a sizable user base. Its removal will surely reduce its global reach. This could lead to decreased liquidity and further price decline pressure.
Meanwhile, in December 2023, Google Bard chose LUNC over LUNA as the better investment option in 2024. However, once it is delisted, LUNC will have a harder battle to fight to keep its spot and reputation in the crypto market.
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