Live LUNC Price Analysis
The current real-time price of Terra Classic is $0.0001and its trading volume is equal to US$33,453,152 in the last 24 hours. LUNC price has fell on
1.71%
on the last day and decreased by
3.13%
in the last 7 days. It is important to note that Terra Classic’s current market capitalization is US$701,255,919Speaking of working resources, LUNC has 5 774 885 294 971 coins. Terra Classic’s current market rating is #103.
Terra Classic price today
100.00%
below
always on top and that’s it
624.79%
higher
always at a low level.
All data and prices are updated in real time. The most active and popular exchanges for buying or selling HOLE are Binance, Kucoin & Kraken. Find more cryptocurrency exchange options on our Cryptocurrency exchange tracker. The most secure hardware wallets to store your cryptocurrency: Ledger And Trezor.
What is Terra Classic (LUNC)?
LUNC (formerly known as LUNA) is the original token of the Terra chain. It was released in August 2018 and was mainly used for regulation of price fluctuations of the algorithmic stablecoin TerraUSD (UST) pegged to the US dollar. However, the relationship between TerraUSD and LUNA was mutually beneficial, since the price stability of both assets was directly dependent on each other.
You can check the current price of LUNC on the Terra Classic price chart above.
However, in May 2022, the stablecoin lost its peg and thus crashed.. The UST stablecoin algorithm, which was intended to back up UST, created trillions of LUNA tokens and led to hyperinflation. As a result, his deposit dropped to its lowest level ever and the price of the Terra Classic fell to almost nothing.
In response, Do Kwon stated that there was a revival strategy. Thus, on May 27, after the Terra Classic fork, the Terra 2.0 network became operational..
Due to Terra’s past, there may be some uncertainty regarding the names of the assets. Let’s clear things up. At first, LUNA and UST tokens were stored on the original Terra blockchain. However, after the fork, it was renamed Terra Classic and its asset tickers were changed to LUNC (Luna Classic) and USTC (TerraClassicUSD). On the other hand, the new Terra 2.0 network is now hosting LUNA.
Moreover, due to the adoption Terra 2 Ecosystem Revitalization Planboth variants of the token are legally allowed to exist.
Previous version of LUNC
The purpose of LUNC (at that time LUNA) was promote widespread use of stablecoins, which were pegged to the value of fiat currencies such as the US dollar and South Korean won, while ensuring the security of the blockchain and the censorship resistance of cryptocurrencies. One of the most widely used stablecoins on the market has proven to be TerraUSD over time. To stabilize the TerraUSD token, LUNC token was created to be used as collateral.
Due to the limited maximum supply of 1 billion, which was controlled firing and minting according to the Unified Social Tax rulesLUNC had the potential to become a hyperinflationary asset. The stability of the TerraUSD market, which was a major contributing factor to the 2022 crisis, determined the price of LUNC at that time. However, then the accident happened, and you know the rest.
Be sure to check out the Terra Classic price chart above to see the current stats.
Who founded Terra Classic?
Daniel Shin and Do Kwon founded Terra in January 2018 with the goal of expanding the use of blockchain technology and digital currency, with a focus on cost stability and ease of use.
Subsequently Kwon became the CEO of Terraform Labs, the organization behind Terra. Previously, Kwon was the founder and CEO of Anyfi, a company providing decentralized wireless mesh networking solutions. He also has software development experience from his time at Microsoft and Apple.
ShinOn the other hand, he was also the co-founder and CEO of Ticket Monster (TMON), a famous South Korean e-commerce platform. He also co-founded Fast Track Asia, an organization that helps entrepreneurs build successful businesses.
What is the trading volume of Terra Classic in the last 24 hours?
LUNC has trading volume US$33,453,152 in the last 24 hours.
What is the highest price for Terra Classic?
LUNC has the highest price $119.18which was achieved at April 05, 2022 (1 year 10 months ago).
What is the lowest price for Terra Classic?
LUNC has the lowest price $0.0000168which was achieved at May 13, 2022 (1 year 9 months ago).
Which exchanges are best for buying and selling LUNC?
Currently the most active and dominant exchanges for buying and selling Terra Classic are Binance, Kraken & Kucoin. The most popular Terra Classic trading pairs LUNC/USDT
(on
Binance
),
MOON/THB
(on
Bitcube
),
LUNC/USDT
(on
Billiards
). Go to Catalog of crypto trades to access customized and exclusive discounts, vouchers and welcome bonuses from the most popular exchanges.
What are the safest hardware wallets for storing LUNC?
According to the process of in-depth analysis and testing, Ledger And Trezor are one of the most secure and popular hardware wallet options for storage Terra Classic. For exclusive discounts and promotions on the best crypto wallets, visit Catalog of crypto trades.
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