Though the trade in the toke was halted and it was delisted from a number of Indian exchanges. A Terra Luna burn would reduce this supply and possibly increase the value of Luna following the meltdown, which saw the circulating supply climb to over 6.5 trillion. 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. terraluna by Oct 2, 2022 3 min read Image: Shutterstock The value of Luna Classic, LUNC, is up over 70% for the week and up over 44% for the month, hitting $0.000365 mid Sunday as traders awaited final token burn numbers from Binance. Here, the UST is the stablecoin pegged to the U.S. dollar, and LUNA is used to stabilize the price of UST. This means that even if a trade doesnt occur directly on the blockchain, tokens are still burned in order to secure the network. sgwashere29 . Recover a Bitcoin wallet.dat password in 2 minutes! Terra Luna Classic's largest validator Allnodes was the proposer of the block. The Terra Luna Burn Isnt Going Away, But Is It Helping? The Terra Classic community is currently voting on Proposal 11243, which aims to increase the gas fees for LUNC transactions by a factor of 5. Even though the Luna 2.0 crypto exchange list grows, some exchanges previously vowed to burn Luna through their transaction fees. Yesterday, February 9, the LUNC burning tax made it possible to destroy 68,683,935 LUNC crypto. 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. The Luna Classic burn chart also displays information about when and how many tokens were burned for each transaction. are also proposals to restructure UST debt, but that is an evolving discussion. 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. ad-free. Community-Based Crypto: Terra FormLabs wallet address will be whitelisted for this particular airdrop of LUNA, and hence, only the community will be getting it. The primary tactic is to burn LUNC and remove it from circulation. Invest Cuffs 2023 - one of the largest investment congresses in Europe! This initially seemed to be the method favoured by Binance CEO CZ. By simply listening some musics playlist on spotify, youtube. The Luna Classic burn status is tracked by various websites that provide users with a chart that displays the number of tokens that have been burned since the burn mechanism initially went live, such as TERRARITYs LUNC Burner. Aptos price prediction: Is APTtoken a good investment? The new Luna, on the other hand, is the one born after the implosion with the new Terra project, which is why it is also called Luna 2.0. UST or LUNA on CW3 multi-sig contracts The official LUNC burn wallet address is: 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]. Explorer - Finder Although distressed, strong brand recognition and a name that almost everyone in the world will have heard about May 22, 2022 - Posted in Therefore, if the current pace were maintained, the burn rate would be 18 times that of the first four months. And another group of Terra Rebels and community members trying to revitalize the the Buy, trade and hold 350+ cryptocurrencies on Binance. TERRA LUNA CLASSIC HUGE BURN || PRICE EXPLODING RIGHT NOW more to come ! However, the Terra Classic community ultimately decided to move forward with the new proposal, with 39 out of 42 transaction verifiers approving it. Can Luna Classic (LUNC) Rise to $1? Although the exact date of integration is not yet certain, the community expects it to be completed within the months of August or September. Welcome to #LUNCdash.com NOT FINANCIAL ADVICE! Indeed, Do Kwon has now come out and said TerraForm Labs does not have the funds or coins to burn the Luna circulating supply. However, support to the downside exists around the $0.00025 area, as well as around the September 26 low of $0.00018. You can only download this statistic as a Premium user. 1,221,968 #LUNC ($216) burned to Luna Burn Wallet! The Shibarium Public Beta Is Just Around The Corner. 96,000,000 #LUNC ($26,244) burned to Luna Burn Wallet! ; The network has been struggling since its launch in late May. 2% increase. What Is The USD Tether (USDT) Scam Story About? official burn address. Binance burn currently represents over 50% of total LUNC burn. Developer Mining Program. Additionally, there is a Luna burn rate calculator available on the website, which can be used to calculate how much LUNC will be burned for trades of various amounts. With a circulating supply of 5.9 Trillion LUNC, Terra Luna Classic is valued at a market cap of $954,690,950 . 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. Send terra to a Luna wallet, can it be fixxed. This helps to ensure that Luna Classic tokens remain scarce and valuable for the long term. Can This Work? 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. Luna Classic Burn: How Many LUNC Have Been Burned So Far? Please create an employee account to be able to mark statistics as favorites. Your email address will not be published. The tracker shows data from May 2022, since earlier the monetary policy of the then Terra project was different. Overall, the Terra Classic community's decision to repeal Proposition 10983 and adopt the new proposal for LUNC distribution and burning is a significant step towards improving the network's performance and driving stimulating more activity on the Terra Classic network. 1/ Terra governance prop #1623 to rename the existing network Terra Are LUNA burns impacting its price? Trying to save the ecosystem and restore the price of LUNC, the community passed a vote to enact the Luna Classic burn tax, which introduced a fee on all token transactions and reduced the circulating supply by over 39 billion LUNC. LaLiga Names Divi Official Crypto Wallet for MENA, SEA, & China, in Worlds First for a Football League. This according to data from within. The truth is that law enforcement does not know exactly where he is, and it seems quite likely that he is trying to escape capture by moving to places where the same law enforcement agencies are having difficulty finding him. The Terra recovery plan launched Luna 2.0, meaning a Luna burn was not chosen as the way to save Luna. Pre-attack aUST holders: 10% Who Owns The Most Shiba Inu (SHIB) Coins? This new chain will launch with 1 billion Luna, a huge decrease from 6.5 trillion. The current CoinMarketCap ranking is #54, with a live market cap of $949,594,314 USD. 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. The Crypto exchange Binance said it supports the Terra Classic network upgrade v1.1 . terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu. Users talking about the . 1 LUNC = $0.00028949 #LunaBurn, LunaBurnTracker (@LunaBurnTracker) September 19, 2022. This means that the value of deposits and withdrawals of LUNC to and from the Zonda exchange will be reduced by 1.2%. Sign up for BTCC now to build your own portfolio! Once the proposal was passed through a community vote, 10% of LUNAs circulating supply was burned and the same was expected to reduce overtime. All tokens locked or vesting are staked at genesis, and must be unbonded to become liquid. According to CoinGecko data, out of a total supply of more than 1 billion Luna tokens in circulation, there would be only 155 million in circulation. This is to ensure that depeg related allocation is on par with the original stakeholder (pre-attack Luna) allocation. $LUNA added since last Tweet: 7,062,603 ($1382.72). is part of efforts investors believe would bolster the value of the cryptocurrency again. This decision was met with a significant majority, with 82% of voters for the proposal. The new proposal suggests allocating 50% of the burned tokens to the community fund of Terra Classic, rather than 10% of newly minted LUNC. With the supply increasing 1700% in a few days, a major burn would be needed to restore this price. Today it reached a high of $1.76, and now sits at $1.73. 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. Recently, the Terra Luna Classic community voted to introduce a burn mechanism, which was formalized after the passing of governance proposal 3569 and 4159.. As a result, LUNC protocol will . As the table below shows, the burn efforts have seen Binance remove a total of 8,588,471,344.33 LUNC, which has a dollar equivalent of $2,993,480,008.16. 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