Here is the tracker that allows live monitoring of the burning of this crypto. By understanding the deflationary nature of Luna Classic tokens and their burn mechanism, users can better understand why reducing the circulating supply is important for increasing their value over time. Since the Terra blowout, several proposals were made by the community to increase burns and inflate the value of LUNA tokens. A Luna burn of its supply was one proposed idea to help the Luna recovery, but could it still happen? Use search engine; Visit some websites; Buying stuff; Or you can send your tokens to the dead wallet if you are in good mood ;) 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. Many users hope that the burn tax will be instrumental in helping LUNC recover to its former glory. Pre-attack Luna holders distribution - for all holders with a snapshot balance of 10k Luna or less, 30% unlocked at genesis; 70% vested over 2 years thereafter with 6 mnth cliff. However, according to CoinCheckup data, the circulating supply has shrunk from 210 million at the end of May to the current 125 million. Nothing sparks demand quite like decreasing supply. O ne of the biggest disasters the industry could ever face. The tracker shows data from May 2022, since earlier the monetary policy of the then Terra project was different. following types: On the LUNA Classic chain, there is an official wallet address that will automatically burn any Tests have also been conducted to determine the potential impact of the lunc burner tax. Looking forward, its difficult to predict where the next short-term move will be, given that the relative strength index (RSI) is now in neutral territory. Additionally, users can use the burn rate calculator available on the website to calculate how much LUNC will be burned for trades of any amount. 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. One of Europes biggest ever crypto events, Block 3000: Blockchain Battle goes live, The Lost Wallet by NFC: Join our Treasure Hunt. Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. The proposal endeavors to compensate for the reduction in community funds by raising the transaction fees, thus sending more funds to the community pool. Since the Terra blowout, several A new revival plan dubbed 2.0 was shared by Terras founder, Do Kwon. Do Kwon has given the community the official address for burning $LUNA In comparison, the most traded crypto, the stablecoin Tether (USDT), had a 24-hour trading volume of $37.33 billion. LUNA sent to Terra address "terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu"; No supply figures were provided for LUNC during the summer of 2022. And another group of Terra Rebels and community members trying to revitalize the the Terra Classic price is expected to reach as high as $0.000314 by the end of 2023. So, where did Terra Classic come from? All tokens locked or vesting are staked at genesis, and must be unbonded to become liquid. Stablecoins - USDT / USDC bridged over Binance burn currently represents over 50% of total LUNC burn. ad-free. Pi Network Mainnet: When Is Pi Coin Launching? Use Ask Statista Research Service. The new Terra Luna network might have launched - but coin burns of Luna Classic (LUNC) and TerraClassicUSD (USTC) have both risen in recent days. This is to ensure that small Luna holders have similar initial liquidity profiles. Malviya said that investors who bought LUNA below $0.1 can make some profits. The creator of the Cardano blockchain on the regulatory attack on crypto: what is the trigger? In the past few weeks, there has been a considerable gain in Fantom (FTM), which has resulted in the market cap reaching approximately $1.3 billion at press time. 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. This is one of the reasons why LUNC is currently among the best cryptos under 1 cent. "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." To the upside, the first target to look for would be the high from October 2 of $0.00037, after which further upside towards $0.0006 could be in the cards. If you are an admin, please authenticate by logging in again. There ; The network has been struggling since its launch in late May. The partnership between Google Cloud and crypto project Casper Labs. ==== Amendment #1 ====. 11 February, 2023 - 10:03 Editor: Jakub Motyka. It has been designed to facilitate low-cost and secure transactions, with near-instant confirmation times. This as most cryptocurrencies saw minimal gains. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. 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. Since then a burn program has been initiated, but it is proceeding very slowly. If youve already voted and disagree with the changes, please vote No - you have 5 more days to do so. 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. The community is now waiting for full integration of these proposals into the Luna Classic platform. 27,337,229 #LUNC ($7,914) burned! 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. While Kwon asked why holders would do this, stating it is "literally burning money", this has not stopped holders. 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 . New Inflation Rate: In the revival plan, Do Kwon said that the existing revenue streams wont be sufficient to cover the cost of security without increasing swap fees. Learn more about how Statista can support your business. But there are several key risks to watch out for, since most of these measures will take some time to actually materialise. 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. To make this a reality, investors have increased the rate at which they are burning LUNC tokens, with tens NFT exchange - Randomearth, Knowhere, Oneplanet, Luart, Talis In other words, the burn program is proceeding very slowly, so much so that the price of LUNC since the peak in early September has been falling almost steadily. The #BurnLuna hashtag trended on Twitter throughout the voting process. Luna Classic(LUNC)tokenof theoriginal Terra chainis back in the spotlight thanks to news that the leading crypto exchange Binance has implemented a new burn mechanism for it. LUNC price could surge to a maximum of $0.00212 by the end of 2030. Edward Kim, the head of development for Terra Classic, had previously expressed concerns about Proposition 10983, claiming it could lead to a major LUNC burner, Binance, withdrawing its support for the network. Show publisher information Get top exchanges, markets, and more. 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 Any amount helps! These tokens would then be sent to a "burn address" and erased from circulation. Luna (LUNA) is currently ranked as the #108 cryptocurrency by market cap. 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. 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]. In May 2022, Terra Money tragically collapsed. In recent updates, the software has undergone several updates and rollbacks, with the most recent version being v0.5.21. Therefore, Luna has the ability to capture value from the use of . The big question now is how high LUNC price will go following the next LUNC burn.. However, it still needs to be waited for another 10 days for the Terra Foundation to respond and take over the code. LUNC, the former LUNA, doubled its price in a week in anticipation of a new supply burn regime. Burn alert! But to no avail. Bitcoin ATMs: decline in installations of more than 1,000 ATMs in 2023. As of now, 8 validators have voted, with 7 voting in favor and 1 against the proposal. 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. Terra is closing in on all-time highs as investors anticipate a supply reduction. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordabl Post-attack snapshot to be taken at Terra Classic block 7790000 (2022.05.27 03:59:51+08:00) burn. trading LUNC. One of the main reasons for this change is the current low burn rate. Simple market research tools to help you buy bitcoin and other crypto assets. When Binance first announced its token burn mechanism for Luna Classic on September 26, the token soared by close to 68% in a day. 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 . The Terra recovery plan launched Luna 2.0, meaning a Luna burn was not chosen as the way to save Luna. . If you continue to use this site we will assume that you are happy with it. This new chain will launch with 1 billion Luna, a huge decrease from 6.5 trillion. We use cookies to make sure you can have the best experience on our site. sgwashere29 . All provided information without any warranty of being correct. The numbers provided here pre-date this change, and therefore refer to this 1.0 version. According to the explorer, through 6242 transactions, holders have burned 3.85 billion Luna as of September 13. TerraUSD, Terra's native stablecoin, is backed by LUNA. LUNC to USD price is updated in real-time. When all was said and done, LUNCs circulating supply increased from less than 400 million to over 6.5 trillion in a matter of 72 hours. As a Premium user you get access to background information and details about the release of this statistic. As soon as this statistic is updated, you will immediately be notified via e-mail. Although the exact date of integration is not yet certain, the community expects it to be completed within the months of August or September. Then you can access your favorite statistics via the star in the header. You can only download this statistic as a Premium user. Yes you keep track ledger Reply [deleted] . Allnodes publicly announced their support for the new proposal to reduce the tax to 0.2% via Twitter, stating that it was necessary for the Terra Classic community to bring the rate back to 1.2%. Only transactions that happen on chain can be taxed. LUNC sent to the burn address comes in a variety of forms, but most notably is Binance. The Terra Classic (LUNC-USD) community is implementing a coin burn mechanism to try and lift up LUNC prices. Is it a scam? Terra might take some time to get back on track as it has been dipping continuously for the past week, but market trackers suggest that investors need to be cautious. The proposal body has also been edited to reflect the changes in the amendment. Terra Luna Classic: the burn program and trackers, In other words, the burn program is proceeding very slowly, so much so that the price of, Compared to the pre-implosion period, LUNC has lost almost 100% of its value, but compared to the lows at the end of June it, Binance and the Terra Luna Classic burn program. Terra Ecosystem Revival Plan 2 [AMENDED] With a circulating supply of 5.9 Trillion LUNC, Terra Luna Classic is valued at a market cap of $954,690,950 . Terra Classic's Revival LUNC/USD is attempting to make. May 22, 2022 - Posted in terraluna by luna Do Kwon has given the community the official address for burning $LUNA The price has already gone up 70%+ in one hour as the community has decided to start burning the tokens. Read below to find out. Due to systemic hyper-inflation, LUNA supply went from a The official LUNC burn wallet address is terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu. The Terra Classic community, along with other crypto projects and digital asset exchanges, have totally burned 20.0 billion LUNC tokens. Read below to find out what it is and whether it can work? Good luck, internet stranger! According to LUNC Burn, on September 17, 2022, a total of 26,586,512 LUNC (26.5M) were sent to the Luna Burn wallet. crypto referral codes. The numbers provided have been gathered and calculated by Statista, from Bitquery and Messari.io, based on a tweet from LUNA CEO Do Kwon sent on May 21, 2022. With a Luna Classic burn tax of 1.2% coming on September 20, these burns may continue to grow. Although distressed, strong brand recognition and a name that almost everyone in the world will have heard about 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. original chain, now called LUNA Classic. Once the proposal was passed through a community vote, 10% of LUNAs circulating supply was burned and the same was expected to reduce overtime. If you are going to burn your luna, convert it to UST and burn UST instead Reply Fit-Boomer . The thing is, Lunas total supply continues to increase. The Terra blockchain network is powered by cryptocurrencies such as LUNA and UST. It is worth noting that since Binance introduced these measures less than a month ago, 18 of the 22 million LUNC tokens have been burned so far in five months. Some top cryptocurrency exchanges have already announced thatthey will support the proposal once it goes live on September 20, 2022. So, in order to increase the supply of TerraUSD, LUNA tokens need to be burned. 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). LUNC Metrics was built to track analytics on the LUNA Classic chain, with revitalization work led data, the circulating supply has shrunk from 210 million at the end of May to the current 125 million. The Terra Rebels are now working diligently to implement these updates to the Luna Classic platform, with Proposal 3568 aiming to decrease the overall supply of Luna Classic by implementing a transaction-based burner tax and Proposal 4059 focused on reintroducing the staking functionalities to the platform, both of which are expected to have a positive impact. 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. Your email address will not be published. It did, technically, have the same effect as a burn could in reducing the supply, although deciding to restart the chain was a more nuclear approach. Both of these prices are far below where they were at the beginning of May - when the former Luna . Insurance - Risk Harbor This means that the value of deposits and withdrawals of LUNC to and from the Zonda exchange will be reduced by 1.2%. Criptokio.com is a website about Bitcoin, altcoins, blockchain and the crypto world in general founded in 2021. 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. It will be interesting to see how this number changes over time. And that's how Terra 2.0 was born. The old blockchain is now known as Terra Classic . Terra Luna Classic (LUNC) Tax Burn Is Live, The United States Already Allows Paying Taxes With Crypto, TerraPoker (TPT), P2E Game Based On Terra Blockchain, Launch Date Revealed, Save 10% Buying Your Ledger Crypto Wallet During This Black Friday, The Best Crypto To Invest In The Last 24 Hours: From $1,000 To $1,310, Coinbase Will Let You Send Crypto Using name.cb.id Addresses For Free. As for Terra Classic, it seems impossible for the new team to rebuild everything that was lost with the May implosion. It is worth noting that the rate of Luna Classic token burns decreased after proposal 5234 was enacted, which reduced tax burn from 1.2% to 0.2%. However, Luna Classic should not be confused with Luna, because they are now two completely different and independent cryptocurrencies. If you want to buy/sell/trade LUNC, you can support this website by signing up with one of our For a transaction to be included in the on-chain tax scheme, the transactions must be one of the Terra investors continue to burn LUNC tokens. LUNC is the native token of the Terra Classic blockchain, which imploded this May, wiping out $60 billion in market value; the project's algorithmic stablecoin lost its peg to the dollar, and LUNC, the token that was supposed to be its stabilizer, fell into hyperinflation. ", 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. [CDATA[ Zero-Fee Trading on Bitcoin. All of the details, Fight Out crypto project earns about $3 million in pre-sales, The Sandbox: number of events and games in the metaverse grow, Paris Hilton will launch her own dating app in The Sandbox metaverse, Al Generative Art, the new art form generated by artificial intelligence algorithms, BookDrop NFT Joshua Davis CryptoArt Monograph by The NFT Magazine | Curated by Ronnie K. Pirovino, Opportunities for Artists from The NFT Magazine on Nifty Gateway, Hivearium NFT: artist Roberto Giavarini exhibits at Ceribelli Gallery, Crypto news: here comes Bluesky, the decentralized alternative to Twitter, The Annual Report of the Revolut app: surpassed 100 million in EBITDA and more, Microsoft stock pushed by tests on Robots, Revolut announces Ultra: the new exclusive subscription plan for customers. As investors continued to bet against LUNA and UST, Do Kwon attempted to save the sinking ship by proposing two recovery plans. Terra Classic is +0.01% in the last 24 hours. 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. The latest news about cryptos, in our Telegram channel. Games - UNOPND etc Due to systemic hyper-inflation, LUNA supply went from a few hundred million to 6.9 Trillion. 109. This rate is set to increase over time as well, depending on the situation in the market and the liquidity of Luna Classic tokens. 1/ Terra governance prop #1623 to rename the existing network Terra Are LUNA burns impacting its price? The primary tactic is to burn LUNC and remove it from circulation. 200195 LUNC Send terra to a Luna wallet, can it be fixxed. A 20-year trader share his ways to profit, How to buy, sell and create NFTs on OpenSea. terra1u9a6k9wrp6v07gz34vpuyq3tyzg47qagc8wkmn. As. You need at least a Starter Account to use this feature. The number of LUNA burned jumped significantly in October 2022, after Binance burned 5.5 billion tokens or 0.08 percent of the coin's circulating supply. 2Bit Crypto June 19, 2022 13 Less than a minute 789 BitTorrent - BTT 751 Gemini 750 NEAR Protocol - NEAR 738 Stellar - XLM 734 BakeryToken - Bake Coin 730 Holo - HOT 730 MetaPets - MetaPets Token 711 Ethereum Classic - ETC 699 1inch - 1INCH 698 DAO Maker - DAO 697 The current CoinMarketCap ranking is #54, with a live market cap of $949,594,314 USD. 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 TERRARITY's LUNC Burner. The token is the 10th most traded crypto in terms of trading volume over the last 24 hours, at $363.4 million. Can It Work? This address was 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. What is crypto mining and how does it work? Statista. The recent launch of the Luna Classic and its community-driven development initiative have brought forth proposals 3568 and 4059 which have been passed with an overwhelming 99% approval from validators. (moonjazz/flickr) Join the most important conversation in crypto and Web3 taking place in Austin . Recover a Bitcoin wallet.dat password in 2 minutes! 30% unlocked at genesis; 70% vested over 2 years thereafter with 6 month cliff All financial investments, including crypto, carry significant risk, so always do your complete research before investing. All transactions with the LUNC crypto, in those exchanges and platforms that have accepted it, are now taxed with a 1.2% tax that goes to the burning of the Terra Classic cryptocurrency. Therefore, it was decided that returning the burn rate to its previous level of 1.2% would be beneficial for the network. LUNC is predicted to increase substantially in 2023. Decentralized Lending Risk Management; Lessons Learned with Compound Labs, 2023 CMC Crypto Playbook: How DEXs Can Surpass CEXs by Uniswap Labs, Uniswap: debate over a16z's "heavy" vote in DEX governance, The futuristic forecasts regarding decentralized finance (DeFi), Neal Stephenson critical about future adoption of metaverse: it will be very difficult, Bored Ape's Yuga Labs announces TwelveFold, the first NFT project on Bitcoin, 2023 CMC Crypto Playbook: Blockchain Gaming What Lies Ahead by Naavik, Crypto news: Calvaria card game available on exchanges. Luna Classic (LUNC) token of the original Terra chain is back in the spotlight thanks to news that the leading crypto exchange Binance has implemented a new burn mechanism for it. Where can you see real time the burning of the Terra Classic network? Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Conversely, more LUNA is minted when UST's demand dips. Crypto trader, under the pseudonym ashwsbreal, revealed transactions showing that 300 Billion LUNA tokens were burned on 18 May. Terra Validators Delegate to Smart Stake Total Stake ($LUNA) 524,019,340 Staking APR / APY (%) 14.5963/15.7 Percent Staked 49.20% Pending Undelegations (1/7 days/ all) 282.4k/6.7m/12.0m ** Staking APR is based on inflation, block rate, 0% commission, and does not reflect transaction fees. The news has sparked renewed burn efforts from the wider Terra Classic community, with more than 18 billion tokens burned in total and 10% of LUNC also being staked and out of circulation. "Once again, we don't have that kind of money," he said. Data from Etherscan showed that several batches of LUNA coins were being transferred to burn addresses, some even ranging as high as 90 Million tokens. All data is pulled from official api address The Terra Classic (LUNC) project has passed a proposal to introduce a 1.2% 'tax burn' to all on-chain transactions. to burn LUNA since September 2021. However, the current burn rate of 0.2% has not been sufficient in stimulating more activity on the Terra Classic network. On May 28, 2022, the creators behind LUNA released a 2.0 version of the cryptocurrency, whilst the "original" LUNA coin got rebranded into LUNC or Terra Classic. The community awaiting a response from Binance finally received the support announcement later on February 28. The content is for informational purposes only and may include the author's personal opinion, and does not necessarily reflect the opinion of Criptokio.com. Read along to find out. LUNC classic is a site where investors can follow instantly. 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. 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. //
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