Terra Luna Classic (LUNC) Staking Ratio Hits 15%, Binance Burns 1.7B Tokens
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- 2024-07-15 21:03:20708browse
The Terra Classic Foundation has recently announced a significant milestone, stating that over 1.017 trillion LUNC tokens are now staked
The Terra Classic Foundation has announced a major milestone, revealing that over 1.017 trillion LUNC tokens are now staked, achieving a 15% staking ratio. This achievement showcases the growing community confidence in the network. The total staked tokens are valued at approximately $70.15 million, indicating a significant reserve.
Earlier, Binance, a key supporter of Terra Luna Classic, burned 1.7 billion LUNC tokens in its 23rd batch, adding to the total of nearly 62 billion tokens burned.
Collectively, the community has facilitated over 125 billion LUNC token burns, drastically reducing the supply. This reduction has had a positive impact on market sentiment and dynamics.
The increase in the staking ratio makes tokens less available in the market, reducing selling pressure and potentially leading to an increase in the token price. According to CoinMarketCap, the LUNC price has rebounded, showing an increase of over 7%, and is currently trading at around $0.00007246. Continued staking and burning initiatives are expected to support the price stability and potential appreciation of LUNC.
The Terra Classic community aims to maintain the momentum gained from token burns and increased staking. Key initiatives from Binance and favorable market conditions are expected to influence LUNC's future price.
Backed by the crypto market recovery and internal developments, LUNC is positioned for potential growth.
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