After a significant deflationary push following its collapse in 2022, Terra Classic (LUNC) is on the verge of reaching the 100 billion token burn milestone.
Terra Classic has emerged as a standout performer in the current bullish market environment, with the increase in burned tokens attracting attention alongside its price gains.
According to Luncmetrics data, the community’s combined efforts have led to the destruction of 383,184,360 LUNC in the past week alone. This has brought the total LUNC burnt since May 2022 to 98.60 billion, leaving just 1.4 billion tokens away from the coveted 100 billion milestone.
Terra Classic’s current performance reveals a 1.78% price increase to $0.0001163, with the market capitalization also rising to $672,780,857. Despite a 22.38% decline in trading volume to $36,824,951, there is a noticeable revival in the LUNC ecosystem.
With a circulating supply of 5.78 trillion out of a total supply of 6.81 trillion, the Terra Classic community is committed to reducing the extensive circulating supply to drive long-term price appreciation.
Drawing on its history, including an All-Time High (ATH) of $119.18, Terra Classic aims to leverage the reduction in circulating tokens through burning to add value to the coin and potentially trigger a substantial rally.
Furthermore, Terra Classic is gaining widespread adoption, with major exchanges listing it for trading. Additionally, the staking venture on Terra Classic is gaining traction, with the current data showing a total of 1,022,370,160,639 (1.022 billion) tokens staked, representing 15.02% of the total supply. These developments underscore the relentless innovations within the Terra Classic ecosystem.
