Terra Luna Classic (LUNC/USD) is essentially the original token of the Terra Ecosystem, that originally featured the ticker symbol known as “LUNA” but was over time changed to LUNC (Luna Classic) due to the fact that there was a launch of the new Terra chain.
Terra Luna Classic utilizes the original code of the Terra ecosystem, and its development, as well as governance, is community-run. In any case, Terra left a huge mark within the DeFi space.
The anticipated burn tax upgrade as a catalyst for growth
Throughout the past few days, the LUNC cryptocurrency has seen an increase in value, which has been fueled by anticipation for the new token burn mechanism.
We previously covered how this new mechanism will burn LUNC tokens through additional swap fees.
1.2% of the transaction volume from token swaps will be burnt, and this burning mechanism will be applied to on-chain swaps, as well as major exchanges.
Binance, KuCoin as well as other exchanges are rumored to support the burn.
#KuCoin Will Support the Terra Classic $LUNC Network Upgrade
— KUCOIN (@kucoincom) August 26, 2022
This feature is expected to go live following the Terra 1.2 ecosystem upgrade, which will go live at some point throughout September 12, 2022.
9/ This feature will kick in following the Terra 1.2 ecosystem update, expected to go live around the 12th of September.
But, how will this affect $LUNC‘s supply?
— Miles Deutscher (@milesdeutscher) September 1, 2022
This can potentially increase the value of the LUNC cryptocurrency, and we are going to go over its history to figure out how much.
Should you buy Terra Luna Classic (LUNC)?
On September 7, 2022, Terra Luna Classic (LUNC) had a value of $0.00035.
Looking at Terra Luna Classic (LUNC)’s all-time high point of value, LUNC reached $$119.18 on April 5, 2022.
When we go over the performance of the Terra Luna Classic (LUNC) cryptocurrency throughout the previous month, we can see that LUNC’s lowest point of value was on August 20, 2022, at a value of $0.00008664.
Its highest point of value, however, was on August 31 at a value of $0.0002183.
Here we can see an increase in value of $0.00013166 or by 152%.
From August 31 to September 7, LUNC has grown in value by $0.0001317 or by 60%.
With all of this in mind, if investors are curious about where to buy Terra Luna Classic (LUNC), they can do so here.
The Terra Luna Classic (LUNC) cryptocurrency can climb to $0.0006 by the end of September 2022, making it a solid cryptocurrency to buy.
The post The original token of the Terra Ecosystem LUNC is gaining momentum, how far can it climb? appeared first on Invezz.
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