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Terra Classic(LUNC)

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0.2354 SAT
Market Cap (Rank#90)
13,694 BTC
Vol 24h
507.743 BTC
Circulating Supply
Max Supply
11h agocointelegraph
Terra Classic community elects to cease USTC minting
The community strongly supports discontinuing TerraClassicUSD (USTC) minting and reminting, actively engaging in USTC burning to restore its peg against the US dollar.
27 days agocryptopotato
Terra Classic Price Continues to Struggle, But These Penny Cryptos Look Bullish
Terra Classic (LUNC) is struggling to regain its footing in the market, with prices falling over 9% in the past week. LUNC has now closed in the red for six weeks in a row, marking the token’s worst run since April. However, while LUNC struggles, lesser-known coins Wall Street Memes (WSM) and Launchpad XYZ (LPX) […]
41 day agonulltx
Terra Classic Ascends Past Significant Support Post Binance’s LUNC Burn, DigiToads Enjoys Significant Influx of New Investors
Amidst recent developments, the Terra Classic ecosystem witnessed a significant shift as Binance executed its 12th batch of LUNC token burns. In a resounding move of support, Binance permanently eliminated a staggering 1.41 billion LUNC from circulation, signaling a strong commitment to Terra Classic. This monumental burn event, accounting for 50% of Binance’s LUNC spot […]
66 days agocryptodaily
Crypto Market Analysis for H1 According to CoinMarketCap
CoinMarketCap has released a report on the global crypto market after H1. The report delves into a general market overview, recent key events, and what it expects H2’s key themes will be. Today, CoinMarketCap, the world’s leading price-tracking website for crypto assets, released its 2023 H1 Crypto Market Analysis Report. Crypto Market Kicks 2023 Off Strong The crypto market started this year with a bang witnessing the bitcoin price doubling, the rise of L2s such as Arbitrum and ZK, and the NFT market showing signs of improvement. By the end of Q2, the global crypto market capitalization reached an impressive $1.17 trillion, marking a 48% YTD increase. Q1 and Q2, however, concluded with similar total market caps, meaning Q2 showed much less growth. Q2 was instead characterized by trends such as the “memecoin” frenzy and the rise of BRC20 tokens, which, despite being noteworthy, did not garner the same excitement as the previous quarter’s developments. Market sentiment improved significantly by the end of Q1, with the CMC Crypto Fear and Greed Index registering at a neutral 52 – a vast improvement over the start of the year, which registered a fearful 30. According to CMC’s report, the Total Spot Trade Volume of the Top 20 Crypto Exchanges peaked in March but declined by around 36% quarter-on-quarter. Top Growing Sectors Despite what can only be called challenging market conditions, certain industry sectors witnessed remarkable growth in market cap year-to-date. VR/AR (704%0 and AI & Big Data (323%) exceeded expectations, while blue-chip decentralized finance (DeFi) projects appear to be making a strong comeback. The “memecoin” frenzy saw the sector add over 260 new coins YTD, with AI & Big Data taking second place, adding 61 coins. DeFi ranked third, adding 47 new listings YTD. Bitcoin and Ethereum Developments The market’s top tokens, Bitcoin (BTC) and Ethereum (ETH) experienced several events, resulting in noteworthy price fluctuations. CMC’s Top Views CoinMarketCap saw a surge in views from the memecoin sector as $PEPE took the industry by storm. PEPE’s explosive rally of over 3700x from April to May sparked particular interest in the sector, and it joined CMC’s “Most Added to Watchlist.” Memes also registered the most engagement in CMC Community. The DeFi sector registered sustained interest throughout the year’s first half to become the second most viewed. Sector interest largely focused on Terra Classic (LUNC) as Binance burned 2.65 billion LUNC tokens, worth approximately $236,000. AI and Big Data have undoubtedly marked 2023 following the launch of OpenAI’s revolutionary ChatGPT, and it is reflected in views. Best Performing Coins Arbitrum ecosystem tokens such as Pendle (PENDLE) and Radiant Capital (RDNT) appeared to be H1’s top gainers, along with Optimist ecosystem tokens such as Velodrome Finance (VELO). Other top gainers include layer-one blockchains, including Dione Protocol (DIONE), Conflux (CFX), and Injective (INJ). AI-related tokens such as SingularityNET (AGIX) and Render (RNDR) also performed well. Key Themes for H2 CoinMarketCap identified the key themes for the second half of 2023. Bitcoin ETFs The crypto news cycle has recently been dominated by talks of Bitcoin ETFs after BlackRock, the world’s largest asset manager, filed for a Bitcoin spot ETF with the SEC. News of BlackRock’s application spurred a host of other firms, such as Valkyrie, Fidelity and 21 Shares, to announce they are also seeking ETF approval. The SEC has yet to approve any of the applications. Should the regulator grant these ETFs, they could unlock substantial investor demand by offering regulated products for asset allocation. Decentralized Public Infrastructure Networks One of H2’s key themes will be Decentralized Physical Infrastructure (DePIN). DePIN is still in its early stages of expansion and aims to provide solutions for access sharing of physical assets or services like warehousing and data networks. Real World Assets (RWAs) The tokenization of assets has become an increasing focus for the crypto asset industry. Projects focused on making RWAs tradeable on-chain largely consist of credit market protocols such as Maple Finance and Goldfinch allow businesses to use DeFi to secure financing and loans. Liquid Staking Derivative (LSDs) Liquid Staking Derivative witnessed a dramatic surge in activity in H1 owing largely to Ethereum’s Shapella upgrade. Market leaders such as Lido and Rocket Pool saw their TVLs rise 138% and 220%, respectively. By the end of June, LSD platforms secured over a third of Ethereum’s Total Value Staked. Restaking The introduction of EigenLayer – a middleware platform which allows staked ETH or liquid staked ETH tokens to be reused on the consensus layer, prompted restaking as an emerging theme in H1. Restaking was in demand after EigenLayer’s Restaking Smart Contracts were deployed and reached their maximum limits within a day of the mainnet launch. zkSync zkSync, a zero-knowledge roll-up solution, emerged as a popular Ethereum-based layer-2 solution and strong competitor against Ethereum optimistic roll-ups, including Optimism and Arbitrum. zkSync utilizes zero-knowledge technology to offload traffic from Ethereum to an efficient second layer, helping to increase Ethereum’s throughput while enabling an array of new applications. Modular Blockchains (Celestia) Most layer-1 blockchains are monolithic chains that result in issues surrounding efficiency, stemming from the blockchain trilemma of decentralization, security and scalability. Modular blockchains like Celestia address these issues by separating blockchains into three layers: execution, settlement, consensus and data availability. In doing so, modular blockchains provide developers with modular data availability and consensus layers which dApps and sidechains can leverage to bootstrap development. FTX Bankruptcy Developments After FTX collapsed, its depositors could not determine how much of the almost $9 billion shortfall could be collected during the liquidation process. In January, it emerged that more than $5 billion in liquid assets were collected, and this number subsequently increased to $7 billion. The firm overseeing FTX’s restructuring recently contacted creditors, giving them a “Customer Bar Date” of September 29, 2023. Debtors are, however, unlikely to receive a payout until at least H2 2024. Bitcoin Remains Most-Viewed Crypto Across All Regions Regional differences in interest in various crypto sectors were insignificant. Bitcoin continues as the most-viewed crypto across all regions in H1 2023, similar to data from Q4 2022. Bitcoin’s dominance over altcoins increased by 25% from 40.09% at the beginning of the year to 50.39% at the end of H1. As expected, the US continues to dominate the distribution of crypto users worldwide. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
84 days agocointelegraph
Binance conducts 11th LUNC burn, 2.65 billion tokens destroyed
The Luna Classic burn mechanism works by automatically burning tokens whenever a transaction occurs on the network.
90 days agocoindesk
Terra Classic Revival Plans Continue as 6 Engineers Aim to Revive LUNC Ecosystem
Some LUNC token holders remain committed to a Terra ecosystem revival.
91 day agocointelegraph
Terra Allies' Six Samurai team aims to revive the ecosystem
The Terra Allies senior engineering full stack team, known as the Six Samurai, has presented their Q3 spend proposal, emphasizing their deep passion as LUNC holders.
95 days agonulltx
Learn How Avorak AI Transforms Lives and Brings Generational Wealth to Terra Luna Classic Holders
The Terra Classic Network was bubbling with a fierce streak, but since then, it has gone under the market’s radar. It is failing to gain momentum while being characterized by a declining user base and value. Industry experts are leaning towards introducing AI as a saving grace for LUNC to help it get back on […]
98 days agocryptodaily
Crypto Weekly Roundup: SEC Under Fire And More
The SEC has been facing increasing levels of scrutiny and criticism over its less than ideal approach to regulating the industry. It has come under fire from various industry leaders and a bill to dismiss the chairperson has even garnered support from several lawmakers. Let’s find out more. Bitcoin The world’s largest asset manager, BlackRock, has filed an application for a Bitcoin spot exchange-traded fund (ETF). However, there are concerns that Blackrock could, in one fail swoop, take control of Bitcoin. Crypto exchange Binance has announced the launch of its new subscription-based Bitcoin cloud mining services. The Federal Reserve did not raise rates for the first time since the inflation-inspired start of its rapid interest rate expansion. However, crypto continues its downward slide. Ethereum The Bank of China (BOCI) has made history by issuing tokenized securities on the Ethereum blockchain in Hong Kong. DeFi Frax Finance has unveiled its plans to roll out an Ethereum Layer 2 blockchain, aptly named Fraxchain. Uniswap recently disclosed its preferred choice for handling non-Ethereum deployments in its cross-chain bridging operations: Wormhole and Axelar. Uniswap has also unveiled plans for Uniswap v4, the next iteration of the hugely popular crypto platform. An Aave proposal intended to prevent a particular account from accumulating more debt has led to significant controversy, with some stating that it violates the principle of neutrality in DeFi. Altcoins A group of Terra Classic Core developers, the Joint L1 Task Force (L1TF), has announced that it is ready for the Parity Upgrade, set for the 14th of June, 2023. Ethereum Layer-2 scaling solution Polygon (MATIC) has unveiled its Version 2.0, the blueprint for which will be revealed over the next few weeks. Technology Polygon recently proposed a new decentralized governance model aimed at enhancing its network's security, upgradeability, and robustness. Business The Banco de la Republica, Colombia’s Central Bank, has announced a partnership with Ripple as it looks to explore the use of blockchain technology in the country. The crypto investment arm of venture capital firm Andreessen Horowitz, a16z, announced it would be opening its first overseas office in London. Korean-based cryptocurrency lending service, Delio, has temporarily suspended customer withdrawals due to financial irregularities involving crypto investment firm Haru. Voyager customers were in for some good news a year after their assets were frozen, with the platform stating that they could withdraw a significant chunk of their crypto assets from June 20. San Francisco-based crypto payments firm Wyre has announced that it has begun the process of winding down its operations, citing challenges arising from the prolonged bear market. Regulation Tether, the issuer of the leading stablecoin USDT, reportedly deactivated around 29 accounts tied to significant players in the cryptocurrency sphere in 2021. Binance is reportedly under scrutiny from French financial regulatory authorities, who have been investigating the exchange's activities since at least the early quarter of 2022. Crypto exchange OKCoin has come under the scrutiny of the Federal Deposit Insurance Corporation (FDIC) over accusations of making false promises to customers. The Blockchain Association has filed a Freedom of Information Act request with the SEC over the regulator's interactions with Prometheum. The Hong Kong government has proactively advocated for major banks to embrace clients engaged in digital currencies. Coinbase has become the latest entity to push back against the SEC’s proposal of changing the definition of an exchange. According to Tim Draper, the SEC Chair Gary Gensler is stifling the crypto sector leading to a potential long-term detrimental effect on technology in the US. Following a Financial Services Committee hearing on Tuesday, a digital asset bill will be voted on in July which will give clarity to the crypto industry. The SEC has requested four more months to respond to Coinbase’s call for crypto regulatory clarity. Crypto billionaires Tyler and Cameron Winklevoss cautioned the Democratic Party that its “war on crypto” will result in its losing crucial voters. United States Congressman Warren Davidson has filed a new bill called the SEC Stabilization Act, which looks to restructure the regulatory body, including the dismissal of current SEC Chair Gary Gensler. Lawyers for FTX Founder Sam Bankman-Fried have stated that litigation proceedings against him could be significantly delayed if further charges are added against the founder. NFT Nike has started dropping hints about a potentially massive move - introducing a collection of sneaker NFTs in Fortnite. Indian e-commerce giant Flipkart has formed a key alliance with Polygon, one of the industry's key crypto firms building infrastructure around an ecosystem of Web3 products. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
102 days agocryptodaily
Terra Classic Community Unanimously Passes Parity Upgrade
A group of Terra Classic Core developers, the Joint L1 Task Force (L1TF), has announced that it is ready for the Parity Upgrade, set for the 14th of June, 2023. The Terra Classic Community unanimously voted in favor of Proposal 11561, paving the way for the critical update to be implemented. The Parity Upgrade With the Terra Classic community passing the proposal, the Join L1 Task Force will initiate the upgrade on the 14th of June, bringing a host of significant changes to Terra Classic. The primary change will see the upgrade bring Terra Classic to parity with other blockchains, such as Terra 2.0 and other Cosmos chains. This will allow developers and projects to start building once again on the Terra Classic chain. The Parity upgrade is considered one of the most significant upgrades since the Terra community took control of the project following the Do Kwon-led Terra-Luna fiasco in May 2022. Do Kwon now faces multiple charges, and was arrested in Montenegro. Terra Classic will undergo the Parity upgrade at block height 13215800 and will be initiated at 14:00 UTC on the 14th of June. However, the block height and upgrade time could be changed. Validators and nodes must install the V2.1.1 release before the upgrade. The upgrade primarily consists of features such as a minimum 5% commission for validators, CosmWasm V1.1.x, and two security upgrades. Other significant changes included in the upgrade are WasmVM upgrade to V1.1.2, WASMd upgrades for multi-chain capability, IBC go v4.3.1, along with bug fixes. Unprecedented Support Proposal 11501 upgrade to V2.1.0 received unprecedented support, with 99.99% votes in favor of the proposal. The proposal received a minuscule 0.01% “No” votes. It also received almost no “abstain” and “no with veto” votes, indicating the strong level of support for it within the Terra Classic community. Several prominent validators supported the proposal, including Orion, Coinpayu, Allnodes, Interstake One, StakeBin, and others. Developers Urged To Reach Out The main goal of the Parity upgrade is to put Terra Classic at par with other Cosmos chains, such as Terra 2.0. This would allow developers and projects to create and upload their applications on the Terra Classic network. Joint L1 Task Force member LuncBurnArmy stated on Twitter, “As I believe everyone in the #LUNC community is aware, this upcoming Wednesday, the 14th of June, is a milestone upgrade for the blockchain, as we will be at parity with other Cosmos blockchains, providing dApp developers with a much easier process of bringing their dApps over.” Decentralized applications (dApp) and smart contract providers were urged to update the codebase of their projects to CosmWasm v2.1.0 and upload it. The Joint L1 Task Force announced that it would be helping dApps with several crucial requirements for the upgrade. Owners of decentralized applications with sealed smart contracts were urged to contact developer Fragwuerdig if they require help with the CosmWasm parity upgrade. Name Changed To V2.1.1 Joint L1 Task Force members also made crucial changes to the original V2.1.0 upgrade and changed the name to V2.1.1. According to GigHub, developers made around 19 additions and 9 deletions to files in the upgrade. This includes changing logs and fixing missing labels in the Wasm client. A Historic Milestone Terra Luna Classic staking also achieved a significant milestone as the upgrade looms, reaching 1 trillion LUNC staked. Furthermore, the community has burned an additional 63 billion LUNC. As a result, the staking ratio has reached a record high of 14.61%. Currently, out of 6.84 trillion LUNC tokens, around 5.8 trillion are in circulation. “BREAKING: #LunaClassic officially has 1 TRILLION $LUNC staked! Congratulations to the community for this historic achievement! Let’s go for 2 TRILLION next! Send it!” Furthermore, the price of the LUNC token has seen a sustained rally following the news of the upgrade. The token was also the only cryptocurrency to remain positive last week, while all others were in the red. The asset’s price has seen a jump of over 11.50%, rising to $0.000097, and could increase further following the Parity upgrade. The trading volume has also seen a considerable increase, rising by 120% in the last 24 hours. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
126 days agonulltx
Terra Luna Classic holders looking to increase burn with Avorak AI algorithms
Terra Luna Classic (LUNC) has been struggling, and the team is looking for ways to boost the value of LUNC by leveraging advanced technologies such as Avorak AI. By integrating Avorak AI’s technology into its recovery strategy, LUNC could witness increased burn and potentially boost the long-term value of the coin.  Avorak AI Avorak (AVRK) […]
149 days agocoindesk
Terra Classic Hopefuls Mull Revival of Failed UST Stablecoin
Community members are vying for a new model to improve revenues to sustain the peg, which includes token buybacks and fees paid on peg deviations.
151 day agocryptodaily
South Korea Court Rules LUNC Is Not a Security
A Seoul Southern District Court recently found that LUNA, now renamed LUNC, is not a financial investment product. The US SEC called LUNC a security earlier this year. Terra Classic (LUNC), the native token of the Terra blockchain that imploded last year, has been deemed not to be a security by a South Korean Court. The ruling was made in February but only now reported by a local Korean news outlet. The reports surfaced amid allegations against Terraform Labs co-founder, Do Kwon. LUNC, Formerly LUNA, Is Not a Security The Seoul Southern District Court said in its February 16 ruling: It is difficult to see LUNC as a financial investment product regulated by The Capital Markets Act. The District Court delivered an initial ruling on November 15, but the Korean press has only now revealed both judgments. The latest ruling, however, is the first time the court explicitly ruled that LUNC is not a security. This opposes its previous directive, which said, “there is room for dispute in terms of the law” and “it is questionable whether the Capital Market Act can be applied.” The Ruling May Provide a Slight Reprieve for Kwon The court further contended that the South Korean officials from the Seoul prosecutor’s office might not seize Terra co-founder Daniel Shin’s crypto assets. The court’s decision may be a welcome relief for Do Kwon, who is currently in custody in Montenegro after he was charged by the SEC with multibillion-dollar fraud in February. Kwon will appear before a court in Montenegro concerning his arrest, where authorities charged him with falsifying documents when attempting to flee to Dubai. Kwon was arrested with Terraform Labs’ chief financial officer, Han Chang-Joon. The Charges Against Do Kwon Kwon is a wanted fugitive in various jurisdictions, including the US and South Korea, where he faces a myriad of charges, including fraud. All charges relate to the collapse of the $40 billion Terra Luna stablecoin and crypto ecosystem, which sent the broader crypto market into a downward spiral in 2022. Both the US and South Korea are seeking the extradition of Kwon. South Korean authorities charged him with violating its Capital Markets Act. Federal prosecutors in the US have indicted Kwon on two counts of securities fraud, wire fraud, commodities fraud, and conspiracy. Kwon denies all charges against him. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
156 days agonulltx
Conflux (CFX), Terra Classic (LUNC), or Avorak AI (AVRK) for the best gains this summer
Crypto investors are always looking for projects that can provide the best returns ahead of time due to the volatile nature of the crypto market. On that note, Conflux (CFX), Terra Classic (LUNC), and Avorak AI (AVRK) have been termed the best crypto projects for significant gains this summer. Will Terra Classic reach $1? With […]
158 days agocryptodaily
Why Buy the Rise in Solana (SOL) and Avalanche (AVAX) when you can Profit with the Sparklo (SPRK) Presale Instead
Avalanche (AVAX) and Solana (SOL) were among the top-performing cryptocurrencies in 2021 and 2022, with Solana seeing a massive 11,000% increase entering 2022. However, both coins have underperformed in recent months, with Solana struggling through technical outages and the dominoes collapsing on Terra and FTX. As cracks start to form in the Solana and Avalanche narratives, investors are left wondering if it's worth buying the dip on these cryptos or looking for newer, lower-cap tokens with massive potential. Investors are starting to look toward Sparklo, highly-tipped crypto that may beat more established tokens in growth in 2023. From Smart Contract Success Story to One of the Biggest Losers of 2022. Avax is losing users and investors Avalanche (AVAX) was one of the biggest success stories of 2021, delivering returns of over 3,000% to presale investors as a new-generation smart contract platform. However, the cryptocurrency suffered a significant decline in 2022. The token price dropped from $112 at the start of the year to $18.89. The drop in value was compounded by a decrease in user activity, with Avalanche transactions per day falling from just under one million to slightly over 200,000 by the end of May following the collapse of Terra Luna (LUNC). As a result, Avalanche isn't just losing value, users, and investors. Solana (SOL) Tries to Rebound from Record Lows Solana (SOL) had a tough year in 2022, with numerous service disruptions, outages, and security incidents. This, in addition to overexposure to the failed FTX exchange and former CEO Sam Bankman-Fried, who happens to be one of the largest holders of Solana (SOL). As a result, the smart contract platform lost over $50 billion in market capitalization and hit record lows by the end of the year. Despite some recovery to start 2023, price action suggests that investors still hesitate to buy into Solana (SOL). Solana faces an uphill battle to regain market confidence with its future uncertain. Sparklo (SPRK): The Future Blue-Chip Crypto with Massive Growth Potential Sparklo is a groundbreaking blockchain investment trading platform specializing in alternative investments such as precious metals like gold, silver, and platinum. As the first crypto investment platform to allow fractionalized investment in real-world platinum, gold, and silver bars, Sparklo is poised to revolutionize the world of crypto investing. With an innovative platform that is both accessible and affordable, Sparklo has passed its audit with Interfi Network and is quickly gaining traction among investors looking for high-growth opportunities. Investors can trade and invest in NFTs representing real luxury investments in platinum, gold, and silver bars. In addition, Sparklo works with jewelry stores to bring their products to market, and investors benefit from first access to new products and discounts. With a price of just $0.015, Sparklo has significant potential for growth and could become a future blue-chip crypto. As most experienced investors know, investing early in solid projects often leads to significant gains. This is where Sparklo comes in, offering investors the opportunity to get in early at an extremely good price point. Find out more about the presale: Buy Presale: Website: Twitter: Telegram: Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
166 days agocointelegraph
AI bots mingled at a bar and had a party when researchers gave them a town
25 AI "agents" were given a virtual town and were observed going to a bar for lunch, planning a party and expressing other human-like behavior.
169 days agocryptodaily
LetMeSpeak Brings Blockchain and Web3 Technology to Language Learning
Blockchain and Web3 are not just buzzwords associated with digital currencies – their practical applications are much broader. As these technologies continue to evolve, they are now being used in exciting and innovative ways in various industries. One such area is education, where blockchain and Web3 are revolutionizing the way we learn and interact with each other. Leading the way in this field is LetMeSpeak, an English learning platform that has developed a groundbreaking blockchain-based Web3 platform. With this platform, participants become full-fledged members of a learning community, where they can take part in an ecosystem's token-based economy. By joining this platform, you'll be able to improve your English skills while earning money at the same time. Web3 Ecosystem What makes LetMeSpeak truly unique in terms of language learning is its economic model. As opposed to Web2 platforms, where users pay a subscription fee to gain access to study materials, LetMeSpeak users are actually paid to study in a ‘Learn-and-Earn’ plan. By completing language learning tasks in a game-like interface, users receive financial incentives, or LSTAR, the ecosystem’s rewards token, which can be exchanged for USDC. You can’t make millions, but it’s enough to buy something tangible, like lunch or coffee. This instant gratification fuels motivation, which, in turn, boosts the speed and success rate of acquiring new language skills. To get started, users pass registration and take a short vocabulary test to establish their level of language knowledge answering questions about why they need English. And their learning journey begins. Users has to buy an NFT Character to get the full version and ability to earn reward tokens. To do this, they must attach a crypto wallet to their account with enough funds to buy a character. The price of these varies depending on their rarity and level of talent. Once a user has a character, they are ready to learn and earn. In order to make it easier for new users unfamiliar with cryptocurrency to get started, LetMeSpeak has now made it possible to buy NFT characters in-app through the Apple and Google Play stores. After buying their first character, they can then learn how to create their own crypto wallet and convert the LSTAR they earn into real money. The NFT characters that users purchase are, in fact, their own personal property in the ecosystem, so they have a vested interest in participating in it. By completing tasks or competing with other learners, they can earn LSTAR tokens and boost their character’s earning potential in the game. They can also use LSTAR to buy other NFT characters, which they can then sell to other users on a peer-to-peer basis via a decentralized marketplace. And in order to ensure maximum accessibility for those from lower-income groups or developing countries, who may not have enough funds to get started, LetMeSpeakhas made it possible for NFT owners to rent their characters out to others and share in their earnings. This is beneficial to both the owner and renter, as newcomers won’t have to make the initial investment to buy an NFT to start, and owners will receive an income stream from additional NFT characters they purchase with the LSAT they earn while learning. Learning System From the outset, LetMeSpeak learners are immersed in a storyline that consists of many scenarios that are as close to life as possible. Each episode has a real-life goal, from buying a bus or train ticket, ordering in a restaurant, or checking in at a hotel, to more complicated work-related negotiations. All the content is in modern, authentic, everyday English accompanied by full audio voice overs by native speakers from the United States. The system has its own adaptive algorithm for speech recognition that helps learners monitor their progress and improve their pronunciation over time. For learning vocabulary, the program utilizes a proven spaced repetition technique and memorable illustrations that allow users to learn 6000+ of the most common English words needed to travel, work, and communicate clearly. Interactive grammar exercises with easy-to-understand explanations, as well as built-in drilling games, help learners see patterns and develop a fuller understanding of the point that they’re studying. There is also a PvP game, where a user can challenge another user to a race. Correctly answering grammar questions fuels their vehicles and the winner takes the lion’s share of the tokens, which adds an element of competitiveness to further spur motivation. By using the words they’ve learned in new grammar constructions and applying them to storyline situations, learners quickly master the communication skills they need… and earn along the way. Results Having the opportunity to make money while learning motivates LetMeSpeak users to stay engaged and study more. When studying with LetMeSpeak rewards, users remember 4 times more words and phrases in the first 30 days, and 5 times more users continue to consistently study after a month. In a recent study, LetMeSpeak collaborated with Favela Inc, an organization that helps low-income communities in Brazil. The platform provided the NGO with 132 free characters for young learners to study English with and paid them $2 per day if they completed lessons. The results demonstrated that the opportunity to earn even small financial rewards for 30-40 minutes of study helps students to keep going forward in their educational journey. Learning Retention Rate LetMeSpeak Users with Sponsored Rewards Free LetMeSpeak Users without Rewards. 7th-day retention 58.9% 6.83% 14th-day retention 62.2% 4.07% 30th-day retention 58.9% 2.10% According to research statistics, the Learn-and-Earn approach had a very strong impact on motivation, regularity of use, and learning outcomes. The share of students with a language proficiency level below A1 in the control group decreased from 40% (at the beginning of the charity program) to 12% (at the end of training), while the share of students with a language proficiency level of A2 and above increased more than three bold, from 18% up to 60%. Results of Lexical Test Before Project After Project Below A1 40% 12% A1 42% 28% A2 or higher 18% 60% The results confirmed that LetMeSpeak platform and reward system can be used to build super efficient charity programs for people in need around the world. For native speakers of other languages, gaining proficiency in English can open a lot of doors. That’s probably why 1.4 billion people around the world are currently studying it today. For those who have been unable to maintain motivation on traditional platforms, but still dream about getting a better job, studying abroad, living in a foreign country, or just travelling with more confidence, LetMeSpeak might just be the ticket to a new and exciting life. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
1650 days agocryptodaily
Will You Ever Buy Lunch With Bitcoin?
At first, there was a lot of sceptics when it came to Bitcoin. A lot of people claimed that the digital asset was a ‘fraud’ or just some kind of wacky money for the internet. No matter what you think Bitcoin you can’t deny that it has played thousands of ideological and practical roles. Even so, the single biggest argument in the Bitcoin community is over what day to day purpose the leading cryptocurrency could actually serve. There are some enthusiasts that believe Bitcoin is a kind of ‘digital gold’ that should be held onto as a long-term investment. Then there are other fanatics that believe that Bitcoin is ‘digital cash’ which could be used as an everyday investment such as the weekly shop. Both sides of the argument believe that if their views were embraced by the rest of the world, the mass adoption of Bitcoin could finally occur and the price of Bitcoin will eventually be on its way back to its highs of $20,000. There seems to be a divide between these two sides and such a divide has led to some historical moments in the cryptocurrency space such as the creation of Bitcoin Cash and the “battle of egos” that resulted in the creation of Bitcoin SV. Another key moment is the way the Bitcoin bubble seemed to keep on growing towards the end of 2017 and both sides of the track are seemingly behind this, to a certain extent. If we fast forward to today, the price of Bitcoin is less than favourable and the valuation of the cryptocurrency probably won’t be jumping anywhere, anytime soon. That being said, it doesn’t seem to be going anywhere either and continues to fight on with the occasional wonky moment. In 2017, there was a lot of hype for Bitcoin as it was gaining traction by mainstream media and newfound investors. Today, there isn’t a lot of hype, in fact, most of it has significantly died down. This leaves us wondering who is actually using the digital asset? Aside from the general community, who actually uses Bitcoin? According to a blog by Chainalysis, data shows that most of the entities who hold Bitcoin are investors, meaning that entities who’ve purchased Bitcoin for the purpose of holding onto it for the long-term. It does seem that more than six billion Bitcoin was held in accounts that didn’t have any activity in more than a year. Phillip Gradwell is an economist from Chainalysis who spoke to CoinDesk and said that when the aforementioned data was published that more of these investors are individuals instead of institutions. Compared to previous years, “there are [now] more people who are holding crypto personally… half of available bitcoin is still held by investors, but it has gotten somewhat less concentrated.” More into the Chainalysis data, just under five billion Bitcoin was held in personal wallets at the end of August last year. This figure showed a significant increase in the number of Bitcoin that is held by individuals rather than firms and long-term investors. At the end of 2017, Chainalysis found that around 4 billion Bitcoin was in the hands of individual investors. This sums up to around 26 percent of the overall circulating supply of BTC. The economist explained that the increased diversity in BItcoin wealth distribution is primarily down to the fact that long-term have sold off large chunks of their assets to fresher faces in the industry. A lot of these sales happened towards the end of 2017 during Bitcoin’s big bubble fiasco. Gradwell said that the higher amount of individual holders could mean that there are a greater number of entities that would be ready to use Bitcoin to make a purchase. This only works though if they are given the right opportunity to do so. “They are ready – if things were to change, [if] the opportunity to spend it were to arise – to actually spend it. We’ve kind of overcome the first hurdle of adoption, getting bitcoin into people’s hands.” So getting Bitcoin in people’s hands is all well and good but without the means to spend it on their day to day items, what’s the point? So what needs to happen before investors will be able to spend their BTC. The economist went on to explain that the development of solutions such as the Lightning Network could encourage holders to make purchases. The lack of user-friendly interfaces for Bitcoin purchases is also a big obstacle in the way for bitcoin as a way to make everyday purchases. The founder of the APAC marketing agency Tower Brands, Chris Williamson said: “Bitcoin had a cost and speed issue during the peak that will prevent it from becoming a practical payment network for consumer goods. For consumer mass adoption, a cryptocurrency would need to be widely accessible, accepted as a payment method by merchants; stable, and be superior in convenience to the current payment methods (cash or credit/debit card).”

About Terra Classic?

The live price of Terra Classic (LUNC) today is 0.000063 USD, and with the current circulating supply of Terra Classic at 5,816,826,741,804.93 LUNC, its market capitalization stands at 366,251,859 USD. In the last 24 hours LUNC price has moved -0.000001 USD or -0.02% while 6,678,361 USD worth of LUNC has been traded on various exchanges. The current valuation of LUNC puts it at #90 in cryptocurrency rankings based on market capitalization.

Learn more about the Terra Classic blockchain network and how it works or follow the price of its native cryptocurrency LUNC and the broader market with our unique COIN360 cryptocurrency heatmap.

Terra Classic is a proof-of-stake (PoS) layer-1 blockchain for decentralized applications with a native coin LUNA Classic (previously known as LUNA) and a suite of algorithmic stablecoins pegged to fiat currencies, such as USD, GBP and KWT. It was launched in 2018 by entrepreneurs Do Kwon and Daniel Shin. 

In May 2022, Terra’s UST stablecoin, supposed to trade at $1, lost its parity with U.S. dollar and led to a collapse of the broader Terra ecosystem. By May 2022, UST was the largest algorithmic stablecoin by market capitalization and the third-largest of all stablecoins. Its implosion sent the entire crypto market into panic mode, with BTC falling below $30,000. 

In response to the crash, the community approved the proposal by Do Kwon to launch a new blockchain called Terra 2.0 without UST stablecoin as a part of the revival plan. The old blockchain was renamed to Terra Classic, and its native token name was changed to LUNA Classic (LUNC), in the same manner as Ethereum Classic. 

Prior to the collapse of UST stablecoin and the network’s native token, Terra was viewed as a prominent “Ethereum killer”. Boasting high transaction throughput and network scalability, Terra Classic was the second-largest layer-1 ecosystem by total value locked (TVL), accumulating more than $30 billion in its protocols by May. 5, 2022. 

Yet, the future of Terra Classic is now bleak as 98% of TVL was sucked from the ecosystem by May. 25, 2022, according to Footprint Analytics, and the major projects are reportedly moving off the network. 

LUNC and UST may find it virtually impossible to recover in the face of continued community backlash and loss of trust in the ecosystem's digital assets.

LUNC price

Ассording to our LUNC USD live price chart, LUNC coin saw its first major spike in Q1 2021, when it rose from $0.65 on Jan. 1 to just under $22 on Mar. 21, 2021. That 3,200$+ rally was followed by an 81% drop in May 2021. LUNC was then trading sideways until late July. 

The price of LUNC jumped again as the market entered the Layer-1 speculative frenzy in August. LUNC’s growth was perpetuated by Terra’s Columbus-5 upgrade in September, sending the coin to a new all-time high of $46.73 on Oct. 8, as per Coin360 data. 

LUNC then peaked by the end of 2022, reaching a new all-time high above $90 on Dec. 27, 2021, and achieving a market capitalization of $38 billion, despite the bearish sentiment in the broader crypto market. 

The news that Terra’s UST stablecoin will be backed by Bitcoin and evidence that the Luna Foundation Guard, a non-profit organization responsible for safeguarding the UST peg, is actively purchasing BTC fueled the price of LUNC. Terra’s native coin updated its all-time high for the final time, printing a record of $116 on Apr. 6, according to LUNC USD price chart.  

How LUNC works

Terra Classic is a smart contract platform built on the Cosmos SDK that uses Tendermint BFT consensus. Terra Classic claims to enable up to 10,000 transactions per second with a transaction finality of 2 seconds. Since smart contracts are not native to Cosmos SDK, developers utilize an external CosmWasm toolkit to build multichain contracts on Terra Classic. 

Terra Classic built bridges to multiple blockchains such as Ethereum, Solana, Avalanche, Cosmos and some layer-2s, among the others, which at a time helped the network attract massive liquidity.

The native coin of Terra Classic LUNC (previously LUNA) is used to pay for transaction fees on the network and participate in governance. Users can also stake LUNC stake in order to validate transactions on the network and receive rewards. 

LUNC also serves as a collateral for TerraUSD (UST) stablecoin. The supply of LUNC is not capped and can grow exponentially, so LUNC token has no floor price. 

Terra Classic’s two-token UST-LUNA model was, at the time, admired by the crypto community as it made UST a “truly decentralized” stablecoin, unlike its centralized counterparts USDT and USDC, or MakerDAO’s Dai, which has a mix of centralized stablecoins in its reserves. The purpose of Terra Classic was to make UST a go-to stablecoin in the broader crypto ecosystem, as well as to bring it to non-crypto audiences through e-commerce use cases. 

TerraUSD utilizes a stability mechanism where LUNC is used as a backing and is burned or minted if UST diverges from $1. In case UST lost its peg under usual market conditions and went down to $0.99, for example, traders were incentivised to swap 1 UST for $1 worth of LUNA to make $0.01 in profit. The demand for UST would then increase and its price would return to the peg. A crucial aspect that was overlooked is how the value of LUNA is directly tied to the demand for UST stablecoin. This stabilization mechanism eventually sent both UST and LUNA into the death spiral. 

LUNC news, updates and highlights

Terra Classic saw a meteoric rise throughout Q4 2021 and Q1 2022, with its TVL growing threefold during this time frame. In the time of active growth, the demand for UST, and consecutively for native coin LUNC, was constantly increasing. This can be attributed to a 20% APY on UST stablecoin offered by Anchor protocol, native demand for UST from the growing Terra ecosystem, and an array of UST integrations into other blockchains and DeFi protocols. 

As a result, the market capitalization of UST swelled to nearly $18.5 billion before the crash, while Terra Classic’s native token LUNC had a market capitalization of nearly $42 billion at its all-time high, as per Coin360 data. 

The economy showed the first signs of contraction on May 7 after a whale reportedly swapped 85 million UST for 84.5 million USDC. The UST de-peg drama started on May 8, driven by a combination of negative factors that all played out at the same time. 

First, the sell-off in the US equities sent the crypto markets into extreme fear, and LFG reserves also took a hit, making it more difficult to maintain the UST peg even if the reserve assets are sold. Mass withdrawals of UST from Anchor protocol, the leading lender on Terra Classic, was another catalyst of the collapse as the withdrawn tokens were sold on centralized exchanges like Binance, creating selling pressure on UST. The Curve DEX UST pools were also drained as traders cashed out, with an imbalance in the Curve pool causing UST to lose its peg. 

You can read how the drama unfolded in detail in this article, but in short, all UST salvation attempts turned out to be botched. Prior to the crash, the Luna Foundation Guard (LFG) had stockpiled over $3.5 billion worth of reserves, including a stash of Bitcoin. As the LFG was trying to defend the peg, it almost emptied the reserves buying UST off the market for reserve assets. This resulted in a wide-reaching domino effect, sending down the price of Bitcoin and the major altcoins. 

Meanwhile, as confidence in a peg reversion waned, users redeemed billions worth of UST for LUNC and immediately sold it on the market, causing hyperinflation in LUNC. Trillions of LUNC coins were minted, and LUNC price crashed 100% in one week, plunging to effectively zero. 

In an attempt to reconstitute the network the Terra community voted to split the network into Terra Classic, which will preserve the old tokenomics model, and Terra (or Terra 2.0), which launched without UST on May 28, 2022. 

The future of Terra Classic after a new chain is born is hard to predict, but it’s safe to say that it won’t be able to grow larger than it was prior to the UST crash, both in terms of the asset prices and activity on the network. 

The rapid and brutal collapse eroded trust to the network among users and large investors, let alone scrutiny from South Korea’s financial regulators. The largest protocols with popular use cases are also migrating to the new Terra chain, Juno network, and Polygon, among other destinations. 

Unless excess LUNC that was minted after the UST de-peg is burned by the community decision, it is impossible for the token to get anywhere close to its all-time high given the current circulating supply of $6.54 trillion tokens.

One possible scenario for Terra Classic would be the one of Ethereum Classic, another forked network. Like in the case of Ethereum and Ethereum Classic, Terra and Terra Classic have completely different tokenomics. Another similarity here would be developer activity, as the newer chain has more builders and applications. 

Though significantly lagging Ethereum in terms of development and price action, Ethereum Classic is still alive and resides in the top 50 coins by market capitalization, according to Coin360 data. Yet, it’s unclear whether Terra Classic itself would be able to make it into the next bull market. 

Frequently asked questions about LUNC?

  • Can you mine or stake LUNC?

LUNC is a Proof-of-Stake cryptocurrency, which means LUNC coins cannot be mined, but can be staked. Users can become validators themselves and receive rewards for validating transactions. Either way, LUNC holders can delegate their coins to a validator to earn rewards for staking. 

  • What are some of the best LUNC wallets?

Terra Classic offers Terra Station, its native desktop and mobile wallet. 

  • What can you do with LUNC?

You can use LUNC coins to pay for computing power on the Terra Classic network, stake them for staking rewards, or trade them against other cryptocurrencies.

  • How to buy LUNC?

After the UST crash, major exchanges halted some trading pairs with LUNC. You can still buy LUNC on ByBit (LUNC/USDT trading pair), MEXC (LUNC/USDT), or Binance (LUNC/BUSD trading pair).

Terra Classic Price0.000063 USD
Market Rank#90
Market Cap366,251,859 USD
24h Volume13,579,482 USD
Circulating Supply5,816,826,741,804.93 LUNC
Max Supply995,434,290 LUNC
Yesterday's Market Cap347,374,957.72 USD
Yesterday's Open / Close0.000061 USD / 0.00006 USD
Yesterday's High / Low0.000061 USD / 0.000059 USD
Yesterday's Change
-0.02% ( 0.000001 USD )
Yesterday's Volume6,678,360.64 USD
Mining Info
Hashing algorithmScrypt
Pools (known)1
Pools Hashrate4.05 MH/s
Network Hashrate9.72 MH/s
By MiningPoolStats
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