Summary:
Some community alerts were given on August 28 regarding Terra Classic (LUNC), as investors saw 5 billion LUNC being unstacked. Although this seems like a large amount, it only accounts for 0.1% of the circulating supply. Terra Classic went through a major crisis in 2022 with the collapse of the LUNC-based stablecoin, UST. The Terra DAO approved decisions to mint trillions more tokens, which caused the price to drop significantly. Currently, LUNC has a total value locked of $1.57 million and continues to be valued among the top 100 cryptocurrencies. The recent unstaking of 5 billion tokens has not had a negative impact on the price, and LUNC has even registered gains in the last 24 hours.
Key Points:
– Investors noticed 5 billion LUNC being unstacked, raising concerns about the price.
– The 5 billion tokens only account for 0.1% of the circulating supply, so the impact on the price should be minimal.
– Terra Classic experienced a major crisis in 2022 with the collapse of the LUNC-based stablecoin, UST.
– The Terra DAO approved decisions to mint trillions more tokens, leading to a significant drop in price.
– Despite the challenges, LUNC continues to be valued among the top 100 cryptocurrencies by market cap.
Hot Take:
Despite the recent unstaking of 5 billion LUNC tokens, the price has not been negatively impacted. In fact, LUNC has registered gains in the last 24 hours. This suggests that the market has confidence in the value of LUNC, despite the challenges faced by Terra Classic in the past. It will be interesting to see how the price of LUNC develops in the future and whether it can continue to maintain its position among the top cryptocurrencies.
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