Terra Luna Achieves Major Milestone: More Than 1 Billion LUNC Tokens Incinerated, Could $0.01 Be in the Cards?

Terra Classic’s native token, LUNC, has experienced a slight 0.67% decrease in the past 24 hours, trading at $0.00009967. However, the community has launched a bold initiative to boost LUNC’s value to $0.01, supported by a significant token burn.

The Terra Luna Classic (LUNC) burn has reached a milestone of 1 billion tokens. CryptoBull (@AlexCryptoBull), a crypto expert and LUNC advocate, revealed that the Terra Classic community demonstrated unity by burning exactly 1,117,048,514 LUNC tokens. At current market prices, this amounts to approximately $111,313.88. This move is part of the community’s plan to revitalize LUNC and aims to reduce its total supply, which currently stands at 6,812,673,485,368 tokens, paving the way for the token’s long-term price goal.

The strategic execution of the 1 billion LUNC token burn took place over seven days, aligning with Terra Classic’s commitment to self-sustainability. During the seven-day period ending on January 24, the total LUNC staked reached 1,018,387,576,491 tokens, with 7,197,235,746 LUNC locked up.

The token burn, along with Terra Classic’s blockchain metrics, demonstrates a more efficient approach, with an average block time of 6.01 seconds and a total transaction count of 2,009,827. Notably, the protocol has collected a transaction fee of 1,432,452,736 LUNC.

The LUNC token burn event has gained attention from industry players like Binance. This intentional burning expands the deflationary model and highlights the community’s commitment to growth and value.

What’s next for LUNC’s price? While the Terra Classic community focuses on reducing the number of tokens, some experts believe that a path to $0.01 is being paved. Currently, LUNC is trading above the $0.0001 level, at a price of $0.0001004. However, a 9,860% increase would be required to reach $0.01. Despite the challenges, the community remains dedicated to the cause, as recent LUNC burns have achieved significant success. The circulation of 5.78 trillion tokens remains a major obstacle, but the future of this cryptocurrency looks promising thanks to the progress made and upcoming changes.

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