CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

Finbold 2025-04-09 16:54:59

Is Terra Classic (LUNC) dead?

Known for its long-term volatility and for missing out on the 2024 bull market since early March, Terra Classic ( LUNC ) is once again drawing attention as the next U.S. court hearing involving Terraform Labs co-founder Do Kwon approaches on April 10. LUNC’s decline can be traced back to May 2022, when the Terra ecosystem collapsed after its algorithmic stablecoin USTC lost its dollar peg and fell below $0.01. The incident wiped out an estimated $60 billion in market value, triggering widespread panic across the digital asset space. The collapse of Terra is widely regarded as a major catalyst for the prolonged ‘crypto winter’ that followed. Yet, despite major setbacks and ongoing legal fallout, the project persists, kept alive largely by its dedicated community. Community burn efforts persist, but price impact remains modest Part of this ongoing effort has centered around a community-led token burn mechanism, aimed at reducing the token’s oversupply and boosting long-term value. Data shows that over 407.68 billion LUNC tokens have been burned to date, including 17.17 million tokens on April 9 alone. LUNC burn chart. Source: Lunc Metrics However, the impact on price has been modest. At the time of writing, LUNC was trading at $0.0000555, reflecting a 1.46% daily gain and a modest 1.17% increase in market capitalization to $303.27 million. LUNC one-day price chart. Source: CoinMarketCap Moreover,in a bid to address the aftermath of the collapse, Terraform Labs launched its Crypto Loss Claims Portal on March 31, 2025, allowing creditors to file claims until April 30. This process is part of a structured wind-down that began after Terraform Labs filed for bankruptcy and settled with the U.S. Securities and Exchange Commission (SEC). That said, while Terra Classic is not technically dead, LUNC is barely alive. Its price performance remains weak, volatility is high, and the deflationary token burns haven’t yet offset the psychological and financial damage caused by its collapse. Featured image via Shutterstock The post Is Terra Classic (LUNC) dead? appeared first on Finbold .

阅读免责声明 : 此处提供的所有内容我们的网站,超链接网站,相关应用程序,论坛,博客,社交媒体帐户和其他平台(“网站”)仅供您提供一般信息,从第三方采购。 我们不对与我们的内容有任何形式的保证,包括但不限于准确性和更新性。 我们提供的内容中没有任何内容构成财务建议,法律建议或任何其他形式的建议,以满足您对任何目的的特定依赖。 任何使用或依赖我们的内容完全由您自行承担风险和自由裁量权。 在依赖它们之前,您应该进行自己的研究,审查,分析和验证我们的内容。 交易是一项高风险的活动,可能导致重大损失,因此请在做出任何决定之前咨询您的财务顾问。 我们网站上的任何内容均不构成招揽或要约