In today's video, I will talk about the luna token which is burning a lot and in the next 48 hours, we can see a lot of pumps.#LUNA #terraluna #lunacoin #cry. are also proposals to restructure UST debt, but that is an evolving discussion. Proposal 3568, also known as the Lunc burner tax, is a system in which a transaction fee of 1.2% is applied to all transactions, whether depositing and buying or withdrawing and selling Luna Classic. Much like the success of Shiba Inu burns among the SHIB community, will holders be successful at implementing Luna burns? official burn address. LunaBurn is a page that instantly displays the total and circulating of lunc supply. Token Reset: The revival plan included a clause which said that the total new LUNA tokens in active circulation would be reset to 1 billion. to incorporate the statistic into your presentation at any time. UST or LUNA on Terra protocols that cannot be easily identified Some top cryptocurrency exchanges have already announced that, they will support the proposal once it goes live on September 20, 2022, John Richmond Planning to Design SHIB-Themed Apparels for Shiba Inu Metaverse, Address Dormant For 2 Years Sends 68B Shiba Inu To Voyager, BabyDoge Burns 1 Quadrillion Tokens in One Transaction, Relist XRP Trends as Coinbase Launches Crypto Advocacy Campaign, Uphold Responds, Shiba Inu Announces Its Exhibition Date for Upcoming SXSW 2023 Festival, Fidelity Set to Launch Dedicated Bitcoin and Crypto Platform, Shiba Inu Lead Developer Reacts As Shibarium Gets New Support. Welcome to #LUNCdash.com NOT FINANCIAL ADVICE! Every first day of the month, Binance calculates the total amount of LUNC to be burned based on trading fees from the previous month, and sends it to a burn address. The price of Terra Luna Classic (LUNC) is $0.000161270927 today with a 24-hour trading volume of $46,288,702. Luna Classic is a decentralized, consensus-based blockchain protocol that operates on a secure proof-of-stake consensus mechanism. While Kwon asked why holders would do this, stating it is "literally burning money", this has not stopped holders. Additionally, Binance, one of the leading cryptocurrency exchanges, has voiced support for these proposals, with its CEO, CZ, stating in a video that he would implement and generally support them. Table with the burning of Terra Luna Classic (LUNC) since the activation of the 1.2% burning tax in the transactions over the Terra Classic network. The $LUNA in circulation: 6,535,104,248,122 Marketcap: $1,279,442,710 $LUNA What Is Terras (LUNA) Revival Plan 2.0? 24-hour trading volume is $48.39M USD. Terra has announced to burn approximately 1 billion UST (about $690 million) in the community pool while raising the Base Pool of LUNA accessible to 100 million, bringing the total minting capacity to over $1 billion. As for the new Terra project, there is the big unknown of how it can evolve without Do Kwons key contribution. Terras Life Foundation Guard (LFG) had to deploy resources to the tune of $1.5 billion earlier this week to stabilise the price of its tokens. Data from CoinMarketCap indicates that the circulating supply of Luna Classic (LUNC) is currently standing at 6.15 trillion tokens. For example, at the time of writing this news today, September 21, in the last 24 hours more than 14 million LUNC have been burned, which is equivalent to about 4,000 dollars in Terra Luna Classic tokens that have been destroyed to decrease the total supply. This thread is archived. Initially, the LUNC burn rate was set to1.2% of each transaction. Proposal 4059 is focused on reintroducing the staking functionalities to the Luna Classic platform. Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Source. Despite the progress made so far, the community believes the number of burns will skyrocket once the 1.2% tax burn is implemented for all LUNC on-chain transactions. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Post-attack LUNA holders: 10% Explorer - Finder The tracker shows data from May 2022, since earlier the monetary policy of the then Terra project was different. 500K whale cap - covers up to 99.7% of all holders but only 26.72% of aUST These numbers give an idea of the potential impact if these proposals were implemented by other major exchanges as well. Bitcoin Beach: the wallet project born in El Salvador expands. This is to ensure that depeg related allocation is on par with the original stakeholder (pre-attack Luna) allocation. As for Terra Classic, it seems impossible for the new team to rebuild everything that was lost with the May implosion. This allows users to track the burn progress and get a better understanding of the burn mechanism. Post-attack snapshot to be taken at Terra Classic block 7790000 (2022.05.27 03:59:51+08:00) following types: On the LUNA Classic chain, there is an official wallet address that will automatically burn any Terra chain is a proof-of-stake blockchain powered by the Cosmos SDK and secured by Tendermint consensus. It was a hard lesson to learn. 10% earmarked for developers - Price Prediction Twitter: https://twitter.com/ZakaSignals Crypto Telegram Link: https://t.me/ZakaSignalsCrypto Business & Promotional Contacts: - Telegram - @ZakaTrades Many users hope that the burn tax will be instrumental in helping LUNC recover to its former glory. The new proposal suggests allocating 50% of the burned tokens to the community fund of Terra Classic, rather than 10% of newly minted LUNC. Here is the tracker that allows live monitoring of the burning of this crypto. In comparison, the most traded crypto, the stablecoin Tether (USDT), had a 24-hour trading volume of $37.33 billion. If you continue to use this site we will assume that you are happy with it. By burning the Luna, holders hoped this will increase the scarcity of their coins, pushing the price back towards $1. LUNC to USD price is updated in real-time. We update our LUNC to USD price in real-time. Furthermore, some exchanges like Binance are implementing the Luna Classic burn mechanism even on trades facilitated by the exchange. Share of circulating supply of Terra Classic (LUNC) burned on the blockchain address shared by Do Kwon on May 21, 2022, up until October 4, 2022 [Graph]. The old Blockchain will be called Terra Classic (LUNC), and the new Blockchain without this UST arrangement will be called Terra (LUNA). CoinCodex is a cryptocurrency data website that tracks 23334 cryptocurrencies trading on 418 exchanges and provides live crypto prices. This represents a -0.50% price decline in the last 24 hours and a -4.00% price decline in the past 7 days. Terra: Stablecoins that track the price of fiat currencies. Meanwhile, the original Terra (LUNA) naming was assigned to a new blockchain that launched in June 2022 with no algorithmic stablecoin functionality. Can This Work? Price comparison and price change of the top 100 crypto as of February 21, 2022, The 100 most traded cryptocurrencies in the last 24 hours as of November 14, 2022, Terra Classic (LUNC, or LUNA 1.0) circulating supply history up to September 29, 2022, Terra Classic LUNC/USD price history up until October 20, 2022. Dogetti And XRP Have Interesting Updates The Market Can Look Forward To, Luna Classic should not be confused with Luna. Until May 2021, sentiment about the Terra-Luna project was very positive, but after the implosion, it became heavily negative. Read below to find out what it is and whether it can work? Therefore, if the current pace were maintained, the burn rate would be 18 times that of the first four months. However, the Terra Classic community ultimately decided to move forward with the new proposal, with 39 out of 42 transaction verifiers approving it. As of February 2023, more than two-thirds of LUNC burned has been sent to a dead wallet directly, while about a third has been burned via the transaction tax. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Terra (LUNA) has recently undergone a critical network upgrade that promises to restore the functionality of the Binance LUNC burn mechanism. For wallets with < 1M Luna: 1 year cliff, 2 year vesting thereafter As soon as this statistic is updated, you will immediately be notified via e-mail. Just ask Terra, the community charged with maintaining the LUNA utility token protocol and terraUSD stablecoin developed by Terraform Labs.. On Tuesday, the community voted to burn just shy of 89 million LUNA tokens (roughly $4.5 billion). Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. Due to systemic hyper-inflation, LUNA supply went from a few hundred million to 6.9 Trillion. All rights reserved, LUNA Classic Burn: LUNC Comes Back with 2,400% Gains in Last 7 Days, LUNA Classic Burn: LUNCSpikes 40% as Binance Plans Supply Burn, LUNC Burn: Heres HowMuchLuna ClassicHas Been BurnedRecently, LUNC Burn: Binance Revises Luna Classic Burn Taxfrom1.2% to 0.2%, LUNCBurn: Binance owns 35% LUNC Supply butdoesNot SupportBurn, LUNC Burn: Binance Makes Key Changes to the Terra Luna ClassicBurns. document.getElementById("ak_js_1").setAttribute("value",(new Date()).getTime()). Save my name, email, and website in this browser for the next time I comment. news.google.com Luna Classic, Terra Classic's cryptocurrency, has a token burn program, with progress viewable on several trackers, that aims to reduce circulating supply on a regular basis. Despite the progress made so far, the community believes the number of burns will skyrocket once the 1.2% tax burn is implemented for all LUNC on-chain transactions. The next burn is scheduled for Tuesday, October 11, at 00:00 UTC. Dex - Astroport, Loop, Terraswap, Pheonix Additionally, as summarised by the moving averages, FTM's technical analysis (TA) indicators at CoinGape's price tracker show a neutral position, recommending a "neutral" at . There are essential apps that must exist in any web3 ecosystem to be viable: Infrastructure - Setten ==== Amendment #1 ====. Despite the Terra Luna vote approving a new chain, much of the Luna community seemed in favour of a burn. The latest news about cryptos, in our Telegram channel. 96 Million Terra Classic (LUNC) Burnt In One Transaction, Nearly 150 Million On The Weekend. data, the circulating supply has shrunk from 210 million at the end of May to the current 125 million. As a result of Terra Luna Classic community approving Core Developer Edward Kim's "Upgrade v1.1.0" proposal, the Binance LUNC burn protocol has been resumed. In fact, post-Terra's Columbus-5 upgrade, LUNA has seen smooth sailing. To make this a reality, investors have increased the rate at which they are burning LUNC tokens, with tens This new chain will launch with 1 billion Luna, a huge decrease from 6.5 trillion. Stablecoins - USDT / USDC bridged over Get top exchanges, markets, and more. Terra Station has a large install base, with million+ users across the world However, LUNA holders did not receive positive updates as both Terras native tokens continued to be dumped on exchanges. Luna Classic News: Latest price, updates, and more. But to no avail. The latest news about cryptos, in our Telegram channel, Terra Luna Classic (LUNC) Burn Tracker Today, February 10, 2023, Terra Luna Classic (LUNC) Burn Tracker Yesterday, February 9, 2023, How To See In Real Time The Burning Of Terra Luna Classic (LUNC) With This Tracker, These Are The Exchanges That Have Agreed To Burn Terra Luna Classic (LUNC). The figure spiked from 342 Million to its press-time value of 6.53 Trillion in just a single week. Bitcoin Hit a Three Week High, and Cardano Exploded 17% and Regained $1, Exposed: How Ukraine is Spending Cryptocurrencies Donations, Russian State Duma Opposes Total Ban on Crypto. Right now, according to CoinGecko data, out of a total supply of more than 6.9 trillion LUNC tokens there are more than 6.880 billion in circulation. Can It Work? Staking derivative - Stader, Lido, STEAK, PRISM People are wondering: did Ripple lose the lawsuit with the SEC. LUNC Burner | TerRarity Burner Total Burned LUNC 0 0.000000% of Total Supply Sent to burning address 18,347,349,139 Daily Burning Rate 533,417,648 per day Burnt with tax 0 Burning Prediction Today 1 Year 5 Years Days Burned 0 0.000% of Total Supply Supply 6,881,250,852,231 Burning rate: 533,417,648 LUNC burned per day Burning Processor Luna Classic (LUNC) is the original one from the Terra Classic project that imploded in May. Commit to returning funds if product has not been launched in 1 year. Terra Classic Luna investors have continued to support the project as they hope to make LUNC valuable again via a series of community efforts, including burns and staking. Most UST and LUNA in CW3 multi-sig contracts will be accounted for, but there could be edge cases. Yesterday, September 28, only 158,917,653 LUNC tokens were burned, far from the maximum of 467,117,204 LUNC burned reached a few days ago. NFT exchange - Randomearth, Knowhere, Oneplanet, Luart, Talis Most traders know of Terra Luna. Will Shiba Inu Coin Reach 25 Cents In 2023? The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Statista. 109. But there are several key risks to watch out for, since most of these measures will take some time to actually materialise. Pre-attack aUST holders: 10% A Fanpage built by the Community, not affiliated with any protocol or DAO However, it still needs to be waited for another 10 days for the Terra Foundation to respond and take over the code. The purpose is to bring the cryptocurrency Terra Luna Classic (LUNC) back to the top after losing more than 99% 3 months ago. Assets that may not be included: UST or LUNA bridged off of Terra The old blockchain is now known as Terra Classic . Any amount helps! Yeah, thats Trillion with a capital T. LUNA lost 99.99% of its Where can you see real time the burning of the Terra Classic network? These include algorithmic buybacks that are triggered when certain conditions are met, such as when the price goes above a predetermined level. The official LUNC burn wallet address is: Controlled by staked governance Binance, accounting for 70% of all trading volume in the space, has committed to carrying out LUNC burns on a monthly basis. LaLiga Names Divi Official Crypto Wallet for MENA, SEA, & China, in Worlds First for a Football League. finder.terra.money/classic/tx/AE4 #LunaBurn #BurnLuna 3 29 153 This helps to ensure that Luna Classic tokens remain scarce and valuable for the long term. After a spike in early September, which was immediately retraced, the price fell from about $3 to $2.4. While data shows that some burn transactions were being carried out, they were largely insignificant when compared to how were being created. The trend had even continued over the past few days. terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu. This is thought to be a precautionary measure to avoid losing customers through higher fees. Though the trade in the toke was halted and it was delisted from a number of Indian exchanges. Burn tracker provides real time burn statistics of popular blockchain projects such as Shiba Inu, Doge coin, Baby Doge coin, Yooshi etc. This initially seemed to be the method favoured by Binance CEO CZ. According to estimates, the tax burn rate will gradually increase to 5.2% in the near future, which would drastically increase the number of Terra Classic burned each day. Do Kwon has given the community the official address for burning $LUNA. With some Luna holders calling for TerraForm Labs or the Luna Foundation Guard to buy and burn the supply, users have questioned where these places would get the money to do such huge burns from. 1/ Terra governance prop #1623 to rename the existing network Terra Classic, LUNA Classic ($LUNC), and rebirth a new Terra blockchain & LUNA ($LUNA) is now live. coins sent to it. This website does NOT constitute or offer any sort of financial advice and provides no Go, champions, 2023 CMC: Global Crypto User Adoption Outlook with CZ, The Nemesis: interview with Poseidon DAO for the talk show in the metaverse, TradingView integrated into Bitget's crypto exchange. Details are subject to change. I built this site as a passion project. LUNC has shown a surprising level of resilience after thecollapse of the original Terra ecosystem, including theTerraUSD(USTC)(previously UST) algorithmic stablecoin, back in May of this year. Binance, a reputable crypto trading platform, has voiced its support for the recent proposal put forth by the Terra Classic community. This as most cryptocurrencies saw minimal gains. The Terra Luna Burner v0.0.2 to the moon, max deving, better believe it! Today, February 10, 2023, the LUNC burning tax made it possible to destroy 49,830,119 LUNC crypto at the time of the last update of this tracking. Yeah, thats Trillion with a capital T. LUNA lost 99.99% of its value and Terra's algorithmic stablecoin UST plummeted to pennies on the dollar. (The Truth EXPOSED!) The 1.2% Terra Luna Classic (LUNC) burn tax is now live. If my work helps you, consider a small donation. Terra Classic price is expected to reach as high as $0.000314 by the end of 2023. The numbers provided here pre-date this change, and therefore refer to this 1.0 version. $LUNA added since last Tweet: 7,062,603 ($1382.72). statistic alerts) please log in with your personal account. All financial investments, including crypto, carry significant risk, so always do your complete research before investing. Luna Classic, Terra Classic's cryptocurrency, has a token burn program, with progress viewable on several trackers, that aims to reduce circulating supply on a regular basis. With the Luna crypto crash seeing the Luna circulating supply skyrocket to over 6.9 trillion coins, several holders wanted to see a Terra Luna burn to decrease this supply and potentially increase its value. From a low of $0.00004 in early June, the token is now up by close to 600%, trading at $0.00029 as of press time at 11:48 UTC. For wallets with > 1M Luna: 1 year cliff, 4 year vesting thereafter In a similar development, 27,337,229 (27.3) LUNC tokens were burned on Sep 18, with the tokens worth around $7,914. This means that the burn is currently too slow, and too small in magnitude, to be able to positively affect the price, and that LUNC holders probably expect a faster pace of excess token elimination. APY assumes weekly auto compounding (manual/automated). This allows users to track the burn progress and get a better understanding of the burn mechanism. Yes you keep track ledger Reply [deleted] . The upgrade, dubbed the Terra Classic network, has been live since February 25th, 2023, and is expected to improve the overall stability and security of the Terra ecosystem. Are you interested in testing our business solutions? A new revival plan dubbed 2.0 was shared by Terras founder, Do Kwon. There are several ways to burn tokens, and everyone can participate to the party. Terra Classic Price | LUNC Price Index, Live Chart and USD Converter - Binance 2023-02-28 - The live price of LUNC is $0.0001621 per (LUNC / USD) today with a current market cap of $958.86M USD. The proposal body has also been edited to reflect the changes in the amendment. You need at least a Starter Account to use this feature. Everything there is to know, Crypto analysis: Cardano (ADA), Pi (PI) and Akira (AKR), Dash, Cronos and Solana crypto assets on the upswing, Crypto news and price analysis of The Graph and Litecoin, Stellar, CRO and FLOKI, performance that don't do justice to these crypto assets, 2023 CMC Crypto Playbook: Centralized vs. . ", Statista, Share of circulating supply of Terra Classic (LUNC) burned on the blockchain address shared by Do Kwon on May 21, 2022, up until October 4, 2022 Statista, https://www.statista.com/statistics/1317271/luna-burn-rate/ (last visited March 02, 2023), Share of circulating supply of Terra Classic (LUNC) burned on the blockchain address shared by Do Kwon on May 21, 2022, up until October 4, 2022 [Graph], Statista, October 5, 2022. With over 71.2% of LUNA's outstanding tokens having voted already, the original proposal brought up by Do Kwon appears to be on track to get approved as 66.2% of the votes have favored the fork . Can Luna Classic (LUNC) Rise to $1? Who Owns The Most Shiba Inu (SHIB) Coins? The Terra recovery plan launched Luna 2.0, meaning a Luna burn was not chosen as the way to save Luna. The token is the 10th most traded crypto in terms of trading volume over the last 24 hours, at $363.4 million. However, these proposals must first be executed on the blockchain network itself. LUNC burn rate is, however, not only limited to exchanges, the burn rate is also implemented by the Luna Classic network itself. window.__mirage2 = {petok:"0VISzb7urayDtr7CbQyuk6VS.q254S98FomXCT3xVIU-1800-0"}; This move is aimed at decreasing the total number of tokens in circulation and ultimately benefiting the Terra Classic community. However, according to CoinCheckup data, the circulating supply has shrunk from 210 million at the end of May to the current 125 million. Luna Classic, Terra Classic's cryptocurrency, has a token burn program, with progress viewable on several trackers, that aims to reduce circulating supply on a regular basis. Terra investors continue to burn LUNC tokens. The However, with this proposal, only currently active validators will be able to use the staking feature and new validators can only use the feature after 60 days. terra1u9a6k9wrp6v07gz34vpuyq3tyzg47qagc8wkmn. To keep the value of TerraUSD (UST) at its $1 pegged value, Terra (LUNA) tokens are burned and minted, keeping the value stable despite the volatility usually found in the crypto market. Luna (LUNA) price is up 0.120000% in the last 24 hours. Terra Classic's Revival LUNC/USD is attempting to make. So at this time it is not surprising that both LUNC and LUNA perform poorly in the markets, partly because enthusiasm for them has now died down. In LUNA sent to Terra address "terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu"; No supply figures were provided for LUNC during the summer of 2022. The Terra Classic community is planning to start burning more LUNCbut traders should be careful they don't get burned themselves. Network security to be incentivized with token inflation. Required fields are marked *. Past . burn. In fact, in just a few days, it went from 0.76 billion to 6.9 trillion tokens in circulation, and this literally imploded their price. With a circulating supply of 5.9 Trillion LUNC, Terra Luna Classic is valued at a market cap of $954,690,950 . In a blogpost, Do Kwon outlined several measures in order to save the Terra (LUNA) Blockchain ecosystem. In the specific case of Luna Classic, the May implosion was also due to an incredible explosion in the amount of LUNC tokens, even though they were still called simply LUNA at the time. Not everyone in the cryptocurrency community was in favour of a Luna burn. This rate is set to increase over time as well, depending on the situation in the market and the liquidity of Luna Classic tokens. The figure on total supply, on the other hand, is certain. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. This means that even if a trade doesnt occur directly on the blockchain, tokens are still burned in order to secure the network. In this update, we'll be taking a closer look at what these proposals entail and the impact they will have on the Luna Classic ecosystem. "Share of Circulating Supply of Terra Classic (Lunc) Burned on The Blockchain Address Shared by Do Kwon on May 21, 2022, up until October 4, 2022. Distribution Mechanism: The new token LUNA will be airdropped (i.e., given for free) to all those who stake i.e., lock up or pledge their LUNA classic tokens, residual USTs, and other essential tokens of the Terra Classic ecosystem. window.coinzilla_display=window.coinzilla_display||[];var c_display_preferences={};c_display_preferences.zone="325fe079eb73cc7840";c_display_preferences.width="300";c_display_preferences.height="250";coinzilla_display.push(c_display_preferences). 79 burns @ 4 BPH. through links on our site, we may earn an affiliate commission. 1/ Terra governance prop #1623 to rename the existing network Terra Are LUNA burns impacting its price? Click here to read more about such community-owned crypto blockchains. This according to data from within. An example to illustrate how this works: If a transaction is made to acquire 2 million units of Luna Classic, a 1.2% fee will be applied, which equates to a total of 24,000 Luna Classic tokens. Use Ask Statista Research Service. Binance is said to have burned 13.7 billion LUNC tokens in October 2022, which accounts for about a third of the total tokens burned so far. Read along to find out. Before the collapse, the original LUNA token traded as high as $120. The Terra Classic (LUNC) project has passed a proposal to introduce a 1.2% 'tax burn' to all on-chain transactions. The news pushed the token up from lows of around $0.00018 that day to around $0.00037 on October 2, more than a doubling of its price in just six days. Following the collapse of the Terra Classic ecosystem in May 2022, the supply of the native governance and utility token LUNC became massively inflated, leading to a monumental price crash. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem. The Luna Classic burn mechanism works by automatically burning tokens whenever a transaction occurs on the network. As a Premium user you get access to the detailed source references and background information about this statistic. Luna burn Owns the most Shiba Inu ( SHIB ) coins contracts will be accounted for, but that an... Last Tweet: 7,062,603 ( $ 1382.72 ) and Luna in circulation: 6,535,104,248,122 Marketcap: $ 1,279,442,710 Luna! Now live holders would do this, stating it is and whether it can work it! Is to ensure that depeg related allocation is on par with the implosion! Exchange - Randomearth, Knowhere, Oneplanet, Luart, Talis most traders know of Terra Luna on total,. Stader, Lido, STEAK, PRISM People are wondering: did Ripple lose lawsuit. Is Terras ( Luna ) blockchain ecosystem been launched in 1 year $ 0.000314 the. Any web3 ecosystem to be viable: Infrastructure - Setten ==== Amendment # ====. Ways to burn tokens, and therefore refer to this 1.0 version million. Continued over the last 24 hours and a -4.00 % price decline in the 7... 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