cryptocurrency widget, price, heatmap
Search icon
Search icon
Telegram iconTwitter icon
Share icon
Share page
Cryptocurrencies/Coins/Terra Classic (LUNC)
Terra Classic price, market cap on Coin360 heatmap

Terra Classic(LUNC)

Arrow icon
Add to watchlist
$0.000099
(2.82%)
0.4050 SAT
Market Cap (Rank#81)
$653,890,858
26,638 BTC
Vol 24h
$19,780,480
805.808 BTC
Circulating Supply
6,576,655,541,719.88
Max Supply
995,434,290
4 days agocryptodaily
Democratising NFT Whitelisting Puts Web3 Closer To Advancing The Creator Economy
The current state of decentralised markets and the global Web3 community is more complex than ever before, and it has not been getting any easier to grasp. The reason for this complexity is the different levels of innovation and market capture of NFT & crypto projects in the space. For one, there are legacy ecosystems showing little visible innovation, such as the BTC ecosystem; on the other hand there are networks like Avalanche which have nothing but performance and efficiency in mind when orchestrating their operations. Exponential innovation that many strive towards happens in the labs of such projects. A contrast in Web3 projects of this kind, just like in most other industries, can create quite a disorder in the communities surrounding this space. Problems With The Current NFT Whitelisting Practices As most of us are aware, communities, especially in Web3, are the gears powering advancement and progress, because the existence of lightning-fast feedback loops can help a given project excel and fix problems quickly. However, there is not much one can do to decrease the aforementioned innovation and engagement contrast seen in today's decentralised environment - what is possible, however, is being able to adapt to it and turn smaller niches within Web3 toward stability, which communities need today. Whitelisting of NFTs has come a long way since the first baby-steps of these unique on-chain items in 2017, when projects like CryptoKitties came to market, but the characteristics of the average NFT whitelist haven't been improved a whole lot. In a conversation with a dedicated NFT enthusiast, you may find out how difficult and often unfair NFT launches can be - you might start hearing complaints about front-running bots, whales, and similar malicious parties ruling the releases of NFTs, or how projects themselves pay little attention to how well-distributed the allocations really are. Reportedly, seas of NFT newcomers have experienced similar issues. NFT markets have been flooded with lottery-based lunches that don't provide the right incentives, projects that can't manage to communicate honestly and efficiently with their audience or those that use the outdated first-come-first-served model, and, of course, those who rug-pull. Preventing Further Downsides Such projects and methods of whitelisting are doing nothing but dragging the reputation of NFT initiatives that do meaningful work and have some level of underlying value behind them. So far, there has not been a clear pathway to stopping this. NFT & crypto communities are demanding more from projects by the day, but the flawed inner mechanics of NFT collection whitelists prevent advancements that could change the space for the better. Simply speaking, the obvious solution might be to try and solve the foundation on which the standard way of launching NFTs is built, and enable fairer and more accessible drops from there. A new foundation could potentially be built with new motivations and incentives offered to different kinds of participants. For example, the first-come-first-served and lottery-based models could be replaced with certain competitions or prediction events that would create a challenge and reward participants putting in the most effort with allocations. Instead of continuing the operation of mechanics that can damage inexperienced or easily-persuaded individuals, a given NFT project may search for alternatives for launching NFTs in a fair manner - in ways that do not clash with the key values of decentralisation. Only recently new and unique projects started paying attention to the NFT whitelisting fairness issue, and some progress has already been made. SparkWorld* & Fair NFT Distribution One of the most influential projects in this largely untapped niche is SparkWorld*, a UK-based upcoming inventive NFT launchpad with its core built on prediction events on the AVAX blockchain. The goal of SparkWorld* is one that resonates deeply with this article's topic - igniting fairness, proper rewards, and fun within the NFT market. One of the key highlights of SparkWorld* is its invention of an entirely new set of on-chain mechanisms - Fair Prediction Launches - created for reducing the overall dependence on the aforementioned first-come-first-served model, providing access to all enthusiasts, helping prevent market manipulation, and creating never-before seen levels of transparency through its due diligence processes. Some of the most troubling aspects of NFT launches today are poor distribution methods - members have no choice but to trust some third-party to handle transactions, especially in lottery-based launches, which tends to create imbalance in distribution and favour some parties better than others. Benefits of Unique Gamified Markets SparkWorld*'s on-chain prediction events will store the data of NFT launches on the public ledger, providing full transparency to every member or passer-by. Moreover, many enthusiasts and innovators in the field have noticed a curious pattern in the decentralised markets - projects that add some gamification elements to their ecosystem tend to perform better in terms of fair distribution and longer-lasting members' engagement. Therefore, like many others, the SparkWorld* team has started putting effort into gamifying its already robust prediction events-based ecosystem to increase the chances of higher engagement on its NFT launchpad. The way the SparkWorld* operation flow is structured forces the team to think about achieving an equilibrium in the number of different types of users - both members and NFT projects. For regular members, SparkWorld* will have to provide meaningful motivations through the NFT prediction launches, and for the NFT projects themselves. Whitelisting With A Peace Of Mind NFT projects that get onboarded in the SparkWorld* ecosystem will go through a due diligence process that involves a bit of team-doxing for transparency, as well as a careful infrastructure review of each project. Verification and due diligence processes can invite more centralization to a project, but in this case, it is done to ensure fairness and member equality within the ecosystem. In a modern economy, even a decentralised one, being anonymous when making a transaction or providing a service, is not very beneficial considering every internal and external party involved. After an NFT project is approved and onboarded by SparkWorld*, prediction campaigns can begin: all a member will have to do to get involved is set the prediction stake, set a few parameters, and make the prediction - depending on the prediction's accuracy, rewards get distributed. Members on such a platform will be able to enjoy a level playing field created with Fair Prediction Launches, an engaging community where rewarding events are hosted regularly, and an ecosystem that has significantly less malicious front-running bots involved - courtesy of Fair Prediction Launches as well. Conclusion With unfairness and the greed of whales decreasing across different NFT projects, there is hope for the creator economy to accelerate even further. It is quite a challenge to programmatically force members, NFT projects, and creators to be fair to each other, but when the process is gamified and made even more rewarding, there is simply no place for malicious actors. Projects have already started implementing SparkWorld* technology in their ecosystems to ensure participant equality in NFT launches, and despite the SparkWorld* Mainnet not being released just yet, interest is building by the day. Find out more about NFT launch fairness by visiting SparkWorld.io, follow the project's Twitter feed, and prepare for the upcoming release of their Mainnet! 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
22 days agocointelegraph
Korean crypto startup Uprise to compensate investors after disastrous LUNC short trade
The investment startup made a short bet on LUNC in May using client funds. The trade blew up and wiped out 99% of its assets.
26 days agonulltx
Terra Luna Classic Trending on Twitter (#LUNACLASSIC) Amid Ongoing LUNC Burn Efforts
With the cryptocurrency market trading sideways most of last week and showing slight bullish momentum today, one of the trending topics in the Business & Finance section on Twitter is none other than Terra Luna Classic, with the trending hashtag #LUNACLASSIC surpassing 6k Tweets. The LUNC community is hard at work pushing for the burn […] The post Terra Luna Classic Trending on Twitter (#LUNACLASSIC) Amid Ongoing LUNC Burn Efforts appeared first on NullTX.
45 days agocryptodaily
A16z leads $7.5M Seed Round for Web3 Authentication Startup Dynamic
Dynamic, a Web3 startup working on wallet-based authentication and authorization tools for developers, has recently closed $7.5 million in seed investment in a funding round led by Andreesen Horowitz (a16z). The seed round also saw the participation of Castle Island Ventures, Solana Ventures, Circle Ventures, Breyer Capital, Hypersphere, and Chapter One. The startup's work on wallet-based authentication and a suite of authorization tools can be seen as a moved towards becoming a pioneer in the Web3 space. Specifically, the firm has been variably called as the "Auth0 for web3,"according to Yoni Goldberg, co-founder of Dynamic. The comparison is made with Auth0, a leading brand in the web2 authentication space which was recently acquired by Okta, an identity software development firm. The acquisition deal was worth $6.5 billion. What this means is that Dynamic's authentication and authorization tools will enable developers to manage crypto wallets in a more secure way and also help them comply with new regulatory frameworks. The firm is currently being lauded for its work in the crypto space, and with this latest investment round, it is looking to expand its reach and impact. With this injection of fresh capital, Dynamic plans to accelerate the development of its product suite and increase its go-to-market efforts. The startup will also use the funds to build out its team, which currently stands at 8 people. As with Dynamic, Auth0 also provides authentication and authorization tools, but is specifically targeted towards developers building on web2. This difference is largely based on the infrastructure. Dynamic focuses on web3 authentication, doing away with email addresses and passwords, and instead seeking an implementation based on crypto wallets and their private keys which users hold. Dynamic started its work sometime in December 2021, co-founded by Goldberg and Itai Turbahn. The two have been working with each other for over 15 years across several organizations such as the Israel Defense Forces and Juul Labs. While Goldberg and Turbahn are newcomers in the crypto space as co-founders, they have been exposed to crypto since at least 2012. "We really fundamentally believe that everyone will have a wallet on their phone or computer in the next five years," said Turbahn. "The speed at which wallets will be integrated into someone's daily lives will increase exponentially. So we're prepping for that world." Dynamic's services are aimed at a number of different startups and companies, including those that are working within the web2 space. The firm currently has Llama, Popartcats, Handstamp, and Lunchclub as alpha clients, with the platform now released in a closed beta stage. General availability for the services are slated for Q4 2022. 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.
58 days agonulltx
Bitcoin, Ethereum Price Down Over 30% This Week, Terra Classic (LUNC) Overtakes Terra 2.0 (LUNA) in Market Cap
Even with the Fed raising interest rates by unprecedented amounts, last week’s Consumer Price Index (CPI) numbers showed a further 6% gain. Record gas prices continue to drive inflation at an incredible rate, causing uncertainty in global markets. Since the Bitcoin and Ethereum prices continue to follow stock market actions, we’re seeing further losses as […] The post Bitcoin, Ethereum Price Down Over 30% This Week, Terra Classic (LUNC) Overtakes Terra 2.0 (LUNA) in Market Cap appeared first on NullTX.
60 days agocryptodaily
NAGAX Brings Social Crypto Trading To Android & iOS Devices
NAGAX is bringing its popular crypto trading hub to mobile users with the launch of its first Android and iOS apps today. With them, NAGAX platform users will now be able to keep up to date on the latest cryptocurrency price fluctuations, trade, chat with other users and learn from anywhere through their mobile device. Crypto traders love NAGAX because it’s one of the first-ever social trading platforms for the crypto markets. Social trading refers to a popular strategy among investors, where they simply copy the trades of other users, rather than spend hours trying to analyze where the market is going and generate a profit off their own back. NAGAX can be thought of as a trading platform crossed with Facebook, with its main feature being the NAGAX Feed, where any trader can post anything they want related to the markets, their trades and strategy, and discuss their favorite coins and stocks. Building on this social aspect is NAGAX’s centerpiece Autocopy feature, which enables users to copy another user’s trades with a zero slippage guarantee, for a flat fee of just $1. The idea with social trading is that it allows unprofitable traders to follow the strategy of seasoned users who do make regular profits from their trades. It means users can simply pay to succeed, rather than spend hours trying to analyze charts and trends. The mobile version of NAGAX provides access to both of these features as well as more than 70 cryptocurrency trading pairs, plus additional markets such as stocks and derivatives. Users can open the app at any time and access their NAGAX Wallet, where they can manage their crypto assets and send and receive tokens to other wallet addresses. Users can make a trade at any time through the NAGAX Exchange tab, whether they’re on the bus riding to work, drinking coffee in a cafe during their lunch break, or laying in bed about to sleep. Other features include a search function to quickly discover assets, and analysis charts that cover seven different time frames, designed to help users hone their trading strategies. Just like its main desktop trading platform, the NAGAX mobile apps also provides access to NAGAX Academy, which is home to a trove of educational material. Here, users can read about various cryptocurrency assets, discover new trading strategies and learn how to analyze price charts properly to spot signals. The Academy also explores other aspects of the blockchain economy such as DeFi, GameFi, the metaverse and NFTs. NAGAX said its goal with NAGAX Mobile is to build a user-friendly app that enables anyone to trade on the go. It will continue adding new features to the mobile version until it's on a par with its comprehensive desktop app, with capabilities such as crypto staking set to be made available in the near future. 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
66 days agocryptopotato
Terra Classic (LUNC) Number of Holders Increased by Over 500% in a Month
It appears that the number of holders of Terra Classic (LUNC) has increased by more than 500% in the past month.
70 days agonulltx
Terra 2.0 (LUNA) Price Trades Sideways, Terra Classic Continues to Lose Value
With Bitcoin facing bearish momentum once again, falling below the $30k level, Terra 2.0 (LUNA) continues to trade sideways at the $6 level, and Terra Classic (LUNC) loses yet another zero, currently trading at $0.00009454 with a market capitalization of $617 million and falling. Let’s look at any relevant news regarding LUNA and LUNC and […] The post Terra 2.0 (LUNA) Price Trades Sideways, Terra Classic Continues to Lose Value appeared first on NullTX.
73 days agonulltx
Terra Classic (LUNC) vs. Luna 2.0 (LUNA)
A  few weeks ago, Terra (UST-USD), the third-largest stablecoin in the crypto market, was delisted from the US dollar and crashed along with its reserve asset, Luna (LUNA1-USD). This is after experiencing a massive sell-off of over 99% of its value, resulting in Investors losing all their funds and life savings as in the case […] The post Terra Classic (LUNC) vs. Luna 2.0 (LUNA) appeared first on NullTX.
73 days agocryptodaily
ChangeNOW Supports LUNA 2.0 and LUNC
Instant crypto exchange service ChangeNOW allows for swapping LUNA – the coin of the new Terra 2.0 blockchain, as well as LUNC, the old mainnet’s token. As UST and the original version of LUNA crashed this May, the crypto industry was looking forward to a solution that would give new life to the Terra blockchain. On May 16, Terra co-founder Do Kwon proposed to initiate the Terra hard fork, and the voting process kicked off. On May 28, the new Terra 2.0 blockchain went live. Thousands of crypto enthusiasts who had lost faith in Terra were reassured by the team’s efforts to recover LUNA. Earlier in May, UST, the key stablecoin in the Terra ecosystem, lost its peg to the US Dollar after the Anchor protocol had announced decreasing the interest rate. This was followed by massive UST and LUNA sales that crashed their prices to nearly zero. Since that moment, the Terra community had been seeking a solution that would revive the ecosystem. The results of the discussion stated that: The initial Terra blockchain would hard fork to the new Terra 2.0 mainnet on May 28. The new coin will run under the initial name, LUNA. The historical Terra blockchain will keep operating, and the old LUNA coins will be renamed LUNC. There’s no new algorithmic stablecoin in the Terra 2.0 ecosystem. The old UST will change its name to USTC. To encourage the old Terra’s LUNC token holders, the developers airdropped 1 billion new LUNA coins to those who owned LUNC before May 26. ChangeNOW’s head of PR Mike Ermolaev states: “The Terra incident was indeed huge. We have witnessed and even partaken in probably one of ten most notorious events in crypto history. The crash of Terra had a negative impact on the whole industry, not to mention the members of the crypto community who have unfortunately lost their savings. However, as we now see, crypto has survived the crash and moves on to conquer new heights. So, ChangeNOW moves with the industry, announcing its support for LUNA and LUNC” Terra 2.0 is the blockchain officially supported by Terra Labs now, but many crypto enthusiasts are still willing to trade LUNC tokens. To meet this demand, ChangeNOW enabled both LUNC and LUNA token swaps. Users can buy or sell the coins for 400+ crypto assets and 60+ fiat currencies without registration. About ChangeNOW ChangeNOW is an instant cryptocurrency exchange service where you can swap hundreds of crypto assets in a non-custodial way. The platform doesn’t require registration, so the exchanges are fully anonymous. An average swap takes 5 minutes, and there are no hidden fees: all charges are included in the estimated rate that you see while setting up the exchange. Until December 31, 2022, a cashback feature is available: you can receive 0.1% from all crypto swaps made on the ChangeNOW website or in the mobile app in the platform’s native NOW tokens. 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.
73 days agocryptodaily
Major Crypto Exchanges Support Terra Luna 2.0 As Price Corrects On Launch
Multiple cryptocurrency exchanges have moved to back the reboot of Do Kwon’s Terra project and the revival of its Luna token after its community voted to approve the launch of “Terra 2.0”. The rehashed project is being backed by most of the cryptocurrency exchanges that supported the original Luna token, including big ones such as Binance, FTX, and Bitfinix. Terra 2.0 was touted as the rebirth of the Luna cryptocurrency that spectacularly collapsed in value earlier this month, having once been ranked as a top ten coin in terms of its market cap. Luna’s token price became effectively worthless following what many suspect was an attack on its sister token, the UST stablecoin, which was supposed to be pegged 1:1 with the U.S. dollar but also lost most of its value. In the wake of the crash, Terra founder Do Kwon moved quickly to revive the project and the Terra 2.0 blockchain is now live with the new Phoenix-1 mainnet launch. The relaunch saw new Luna tokens airdropped to everyone who held the original Luna token prior to its crash. Terra 2.0 is designed to maintain the extensive ecosystem of blockchain projects built on Terra and provide community members who collectively lost billions of dollars in value with an opportunity to recoup some of that. A long list of exchanges have gotten onboard with the plan. Along with those mentioned above, others that support Luna 2.0 include AAX, BKEX, ByBit, Bitget, BitMart, Bitrue, CoinSwitch Kuber, Coinmetro, Crypto.com, HitBTC, Gate.io, Kraken, Kucoin, Lbank, Lemoncash, MEXC Global, OKeX, and many others. The above exchanges all supported the new airdrop for Luna 2.0 tokens, meaning that users who held LUNA in their accounts prior to the crash received an equivalent number of the new cryptocurrency. In the meantime, a number of exchanges also delisted the original Luna, at least temporarily, as the token was renamed as “Luna Classic”. It’s thought that the support of major cryptocurrency exchanges is critical to the chances of Luna 2.0 succeeding in reviving the Terra blockchain project. Luckily for Do Kwon, the world’s biggest exchange Binance was also the first to get onboard with the idea, tweeting that it’s working closely with Terra to get things back up and running. Notably though, it only began supporting Luna 2.0 from May 30, two days after the relaunch. The Terra community just passed a vote to ‘Rebirth Terra Network’. We are working closely with the Terra team on the recovery plan, aiming to provide impacted users on Binance with the best possible treatment. Stay tuned for further updates. — Binance (@binance) May 25, 2022 AAX was also quick to voice its support for Terra 2.0, saying on Twitter it has integrated the new blockchain and consequently renamed LUNA and UST as LUNAC and USTC (Luna Classic and UST Classic). Upon the relaunch, deposits, withdrawals and transfers were made available immediately, with spot trading reopening one day later on May 30. Due to the new #Terra 2.0 chain integration, the #LUNA & #UST tokens have now been renamed to #LUNC and #USTC at #AAX.
73 days agocryptodaily
Devs MIA As Mirror Protocol Suffers Yet Another Exploit
Mirror Protocol is under attack yet again, according to a thread by Twitter user FatMan. The attacker has drained $2 million so far, and this figure could go much higher once markets open on Monday. The only way to stem the tide of the attack is if the dev team steps in and fixes the price oracle. However, so far, there is no word from the Mirror devs. Yet Another Mirror Exploit Mirror Protocol, a decentralized finance application on Terra, has fallen victim to yet another exploit. So far, the losses have been clocked at over $2 million, and if the bug is not patched by 4:00 AM ET, then all of its pools will be at risk. Mirror Protocol enables users to take long or short positions on tech stocks through synthetic assets and runs on the old Terra blockchain (Terra Classic). A new blockchain replaced the old Terra blockchain in the aftermath of the collapse of the TerraUSD stablecoin and the LUNA token, now LUNA Classic (LUNC). However, despite the emergence of a new blockchain, the old Terra blockchain continues to run. Mirror Protocol revealed that the pools for bitcoin, ether and Polkadot have been drained so far. Attack could Get Bigger According to prominent Terra community member FatMan, who was also at the forefront of opposing how the new Terra blockchain was launched, the attacker has stolen over $2 million so far. The pools that have not been drained are tied to stocks that are currently not available for trading until 4:00 AM ET. Once these become available, the attacker could use the exploit for the remaining pools and drain them. Crux Of The Problem The problem stems from the Mirror Protocol’s price oracle. This was revealed by the founder of Block Pane, Todd Garrison, who revealed that a significant majority of the validators running nodes on Terra Classic are running an outdated version of the price oracle. Thanks to this, the nodes are telling Mirror Protocol that each LUNC is worth 5 UST instead of its actual price, which is a fraction of a cent. He stated as much on Twitter, “Please look into fixing the LUNC price oracle, because in a short while, all liquidity pools will be drained, Mirror will accrue irremediable bad debt, and the system will collapse in on itself. This is not the time to be negligent.” The attack has not affected a majority of the tokenized stocks, thanks to the weekend and Memorial Day in the US. FatMan is also the same user who had identified another bug in the Mirror Protocol. The $90 Million Exploit And How It Happened In October 2021, Mirror Protocol had suffered a $90 million exploit, which went undiscovered until last week, when Terra community member and analyst FatMan came across it. The exploit was corroborated by security firm BlockSec after it had analyzed the transaction related to the exploit. When someone bets against a stock on Mirror Protocol, they must lock collateral. However, Mirror’s lock contract failed to check when the same ID was used more than once to withdraw funds due to some buggy code. A malicious entity noticed this in October 2021, and they used a list of duplicate IDs to unlock significantly more collateral than they had. In total, the entity drained $90 million. Exploit Unnoticed For Months The exploit remained unnoticed for seven months, despite the presence of on-chain data, with Mirror failing to report the exploit. BlockSec gave a likely explanation for the exploit going unnoticed, saying that fewer users were scanning for issues on Terra compared to others such as Ethereum. Additionally, there was no way to check the amount of collateral without sifting through a significant amount of data, making spotting the vulnerability even more difficult. However, developers at Mirror patched the vulnerability around the same time the UST began unraveling. Once the vulnerability was fixed, the community began wondering if there was an exploit and if Mirror developers knew about it. Not The First Unreported Hack This is not the first time a hack has gone unnoticed. If you recall the Ronin sidechain hack of March 2022, hackers had stolen $600 million. The hack remained unnoticed for a week before users discovered it, only because they could not withdraw their funds thanks to the gaping shortfall created by the exploit. 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.
74 days agocointelegraph
Luna Classic (LUNC) pricing error leads to Mirror Protocol exploit
An error on the pricing oracle software for Terra Classic validators opened the door for an exploiter to drain four synthetic asset pools from the Mirror Protocol.
74 days agocoindesk
Terra’s Mirror Protocol Allegedly Suffers New Exploit
Community users are raising the alarm about a possible bug in the LUNC pricing oracles.
74 days agonulltx
Terra Classic (LUNC) Pumps 74%, LUNA 2.0 up 11%, Will the Price Continue to Rise?
Cryptocurrency markets are showing bullish momentum this Memorial Day, as Bitcoin and Ethereum are up 3.6%, holding their current support levels of $30k and $1.8k. Surprisingly, both LUNC and LUNA show significant price growth, with the Terra Classic token up over 74% and LUNA 2.0 up over 11% in the past 24 hours. Let’s look […] The post Terra Classic (LUNC) Pumps 74%, LUNA 2.0 up 11%, Will the Price Continue to Rise? appeared first on NullTX.
75 days agonulltx
Terra Luna 2.0 Continues to Trade Sideways, LUNC Loses Another Zero
Terra Luna 2.0 went live on exchanges last night, and traders have mixed feelings regarding LUNC and LUNA. Some remain hopeful that LUNA 2.0 will reach prices as high as $50, while others are on Terra Classic’s side, encouraging users and exchanges to burn the token to reduce the enormous supply of the cryptocurrency. Let’s […] The post Terra Luna 2.0 Continues to Trade Sideways, LUNC Loses Another Zero appeared first on NullTX.
76 days agocryptosrus
Terra Luna Falls 60% After Genesis Launch
The Terra Luna genesis launch has so far sent Terra’s LUNA token tumbling. Meanwhile, Luna Classic (LUNC) isn’t doing so hot either.  Covered: LUNA Falls, As Does LUNC Future Prospects LUNA Falls, As Does LUNC Terra Luna’s LUNA token has fallen over 60% since trading opened just after 2am EST. It’s currently trading in $5.10 […] The post Terra Luna Falls 60% After Genesis Launch appeared first on CryptosRus.
77 days agonulltx
Terra Luna 2.0 – New Chain Launch Is Around The Corner
Terra Luna is gearing up for its new chain launch, forking the old blockchain into a new chain without the UST stablecoin. Multiple exchanges already announced their support for the new chain, and CoinMarketCap updated Terra Luna to LUNC and added a new tracker for Terra 2.0. Final Post-attack Snapshot for Terra 2.0 Has Passed […] The post Terra Luna 2.0 – New Chain Launch Is Around The Corner appeared first on NullTX.
85 days agocryptodaily
Updated Terra Revival Plan Receives Significant Support From LUNA Holders
Terra Founder Do Kwon put the Terra revival plan into motion as Terra users began voting on the revival proposal today. The “updated and final” revival plan was posted at 7:17 pm Hong Kong time and saw a significant majority vote in favor of the proposal. However, a preliminary vote was rejected by a landslide margin. Community Debates How To Move Forward As the crypto markets struggle to recover, Terra users are still in a quandary about their next steps and how to move forward from the recent debacle. Do Kwon, on his part, is hard at work to revive Terra while also keeping the community happy. Do Kwon’s latest proposal, which could lead to a significant change for Terra, has received some support early on. When the de-pegging of TerraUSD occurred, leading to significant losses for investors, there was a lack of response from developers of the protocol. Do Kwon finally did come up with an initial revival plan, but that did not receive an enthusiastic response from the larger community. The Original Recovery Plan An initial recovery plan shared by Do Kwon, which was issued last week, proposed a hard fork, splitting Terra into two camps. One camp was the user-centric Terra Classic, while the other was the developer-centric Terra 2.0. The former would replace LUNA with another token, LUNC, keeping the algorithmic stablecoin model, while Terra 2.0 would utilize LUNA. The preliminary vote for the original revival plan shared by Do Kwon indicated that nearly 92% of the votes were against the initial recovery plan. Updated Recovery Plan The community was clearly not in favor of hard forking the Terra chain, with a user-generated poll seeing overwhelming opposition to the idea of a hard fork. Listening to the community, Do Kwon made significant changes to the initial proposal, which seems to have gotten the community on board. As polling began for the updated proposal, early voting numbers have indicated overwhelming support, with 91% of the votes so far approving the plan. At the time of writing, an overwhelming 115,888,680 or nearly 80% of the community has voted in favor of the proposal, while only 0.35% of the community has voted against it, while 20% have voted as “no with a veto.” Critics of the original revival plan stated that the hard fork proposed in it by Do Kwon was unnecessary, suggesting instead that the LUNA supply should be reduced by token burning. If the updated plan is approved, we could see the launch of the revamped Terra networks by the 27th of May. 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.
86 days agocryptodaily
Terra Community Votes Against Fork
An overwhelming majority of the Terra community has voted against CEO Do Kwon’s proposal to fork the blockchain. Community Rejects Fork Terra community members participated in a preliminary voting round at Terra’s research and governance forum over Do Kwon’s proposal of forking the LUNA blockchain. Out of the 2,747 votes cast, only 10% voted in favor of the fork. An astounding 90% of the voters opposed the move, indicating a clear voice of the community at large. The voting was a preliminary round conducted to gauge the general sentiment towards the LUNA fork. The community will formally start voting on the matter on May 18. But there is doubt if much will change till then in the community. Do Kwon’s Proposal It all started when UST lost its stablecoin peg, which kicked off a domino effect on the entire Terra ecosystem. This resulted in the market being flooded by the LUNA token, which dropped 99% in its value to less than a dollar. The proposal seems like a last-ditch effort by Terraforms Labs CEO Do Kwon to gain some semblance of control over the situation. The devastating market crash that brought down the entire Terra ecosystem has left investors and community members scrambling in the aftermath. Although most members are in favor of a LUNA token burn, Do Kwon has proposed splitting the LUNA blockchain into Terra Classic and Terra, hosting the Luna Classic (LUNC) and Luna (LUNA) cryptocurrencies, respectively. The new chain would entirely remove the UST stablecoin and just focus on DeFi applications. Meanwhile, the existing chain would continue as Terra Classic, and holders of LUNA on this chain would receive an airdrop of the LUNC token. Forks Don’t Work Several industry experts also have spoken out against the forking proposal. Binance CEO Changpeng Zhao tweeted, “This won't work…Forking does not give the new fork any value. That's wishful thinking. One cannot void all transactions after an old snapshot, both on-chain and off-chain (exchanges). Where is all the BTC that was supposed to be used as reserves?” The community is mostly hoping that the fork idea is abandoned in favor of the burn method, as they believe that it will bring LUNA back into the list of top 10 cryptocurrencies by market cap, purely powered by the attention it has garnered. On the other hand, the South Korean parliament has summoned Do Kwon to a hearing to explain the intricacies of the situation. 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.
86 days agocointelegraph
The Lightning Network Lunch: A Bitcoin contactless payment story
A data analyst on the Isle of Man demonstrated how contactless payments work on Bitcoin’s Lightning Network using an NFC enabled "Bolt Card."
163 days agocointelegraph
From lunch to Solana: Here’s the story of the NFT ATM in New York
NFTs would enable artists to create new ways to build relationships with and monetize their audience, says Jordan Birnholtz.
252 days agocryptodaily
Charlie Munger Slams Crypto Again, Praises Chinese Regulations
Billionaire investor Charlie Munger has called out the current crypto-based markets, comparing it with the unpredictability of the dot-com bubble burst of the 90s. Crazier Than Dot-Com Burst: Munger Prominent Wall Street investor Charlie Munger is also Warren Buffet’s right-hand man in the latter’s conglomerate, Berkshire Hathaway. On Friday, Mr. Munger spoke at the Sohn Hearts and Minds conference, highlighting his distaste towards cryptocurrencies in general and the goldrush it had created in the market. The 97-year old investor even stated that the investment environment created by cryptocurrencies had reached levels of extremity unseen before, even in his long career. He cited the dot-com boom of the 90s, stating, “I think the dot com boom was crazier in terms of valuations than even what we have now. But overall, I consider this era even crazier than the dot-com era.” He also went on to add that he would never participate in this market and wishes that cryptocurrencies were never invented. Munger Supports China Ban Munger is currently the Vice Chairman at Berkshire Hathaway, which has multiple major investments in China, including car manufacturer BYD. In discussion with Dr. Mark Nelson of the hedge fund Caledonia, Mr. Munger also applauded China’s move on imposing a complete ban on cryptocurrencies and all related activities. “I think the Chinese made the correct decision, which is to simply ban them. My country - English-speaking civilization - has made the wrong decision...I think they were right to cut back on some of the exuberances that come with capitalism.” He explains his skepticism towards this industry, stating that he wants to sell products that are good for the customers and that the creators of cryptocurrencies are simply considering their own profits and not thinking about the customer. Warren Buffet Still Firmly Anti-Crypto Mr. Munger shares his anti-crypto stance with Berkshire Hathaway CEO and Wall Street legend Warren Buffet. Mr. Buffet has famously stated that he does not currently own any cryptocurrency and has no intention of doing so ever. In fact, Mr. Buffet has often used harsh language to emphasize his distaste for the asset, comparing Bitcoin with ‘rat poison.’ However, in January 2020, the billionaire investor sat down with Tron CEO Justin Sun in a charity lunch that Sun had won. Even though the Tron CEO claimed that Buffett was being swayed to the crypto side, the investor denied holding any cryptocurrency in a later interview with CNBC. 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.
281 day agocryptodaily
Rangers Football Club Drop Unique NFT Champions Collection
The 2020-21 campaign was a momentous highlight in the long and exalted history of Rangers. It marked their first Premiership title in a decade, a feat the team has accomplished in phenomenal style, going undefeated in the league. To mark this achievement, and to preserve its legacy in the annals of football history, the club is delighted to announce the launch of a commemorative series of NFTs. They will be launching a series of 1,111 unique and beautifully crafted NFTs, featuring four tiers of rarity: 1/1 –The Champions Trophy Lift 1/10 - The Champions Trophy Lift – ‘Manager & Club Captain edition’ 1/100 - “The Invincibles” Signed Shirt 1/1,000 – The Premiership Medal NFTs, or Non-Fungible Tokens, are wholly unique and individual entries on a blockchain ledger of payments, which provide a complete and fully verifiable contract of ownership, meaning that when you buy one of Rangers collection of commemorative NFTs, you can be safe in the knowledge that you and you alone can claim to be the owner of that piece of club history. The NFT collection will be dropping on Opensea on Wednesday, November 17. The 1/1,000 Premiership Medal and the 1/100 “The Invincibles” Signed Shirt will both be listed at a fixed sale price. The club’s most rare NFTs - the 1/10 The Champions Trophy Lift – ‘Manager and Club Captain edition’ and the 1/1 ‘The Champions Trophy Lift’ - will be sold via an auction, starting on November 17 and ending on November 24. When you buy the NFTs, you’re not just buying exclusive digital artwork and a piece of Rangers history - you’re also buying unforgettable real-life experiences. All of the 1/10 The Champions Trophy Lift – ‘Manager & Club Captain edition’ NFTs come with two hospitality match invites, an exclusive Rangers legend guided stadium tour, and a signed Rangers shirt. The ultra-rare 1/1 The Champions Trophy Lift NFT comes with a once-in-a-lifetime chance to have an exclusive lunch with the Rangers team at the Rangers Training Centre and two Directors’ Box invitations at the next Ibrox Old Firm match. The team will be releasing more details shortly about the release, the exclusive perks that come with the rare NFTs, as well as useful explainer guides about how to buy NFTs from Opensea. In the meantime, you can find out more about the platform and NFT dropsHERE. 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.

About Terra Classic

The live price of Terra Classic (LUNC) today is 0.000099 USD, and with the current circulating supply of Terra Classic at 6,576,655,541,719.88 LUNC, its market capitalization stands at 653,890,858 USD. In the last 24 hours LUNC price has moved 0.0000010 USD or 0.01% while 18,537,890 USD worth of LUNC has been traded on various exchanges. The current valuation of LUNC puts it at #81 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 Price0.000099 USD
Market Rank#81
Market Cap653,890,858 USD
24h Volume19,780,480 USD
Circulating Supply6,576,655,541,719.88 LUNC
Max Supply995,434,290 LUNC
Yesterday's Market Cap644,186,100 USD
Yesterday's Open / Close0.000097 USD / 0.000098 USD
Yesterday's High / Low0.000099 USD / 0.000095 USD
Yesterday's Change
0.01% ( 0.0000010 USD )
Yesterday's Volume18,537,890 USD
Mining Info
Hashing algorithmScrypt
Pools (known)1
Pools Hashrate4.05 MH/s
Network Hashrate9.72 MH/s
By MiningPoolStats
MiningPoolStatsVisit
Select...
/
Select...
Powered by  Cryptocurrency prices in USD, market cap, volume
Sorry, no liquidity for this pair
Arrow icon