Terra Luna Classic LUNC price is up by 22% to trade at $0.000161. A significant bullish run by Terra Luna Classic (LUNC) makes investors wonder where this coin may be going. Before the May crash, LUNC was the original token of the Terra Luna blockchain. The new LUNA token retained the name, but Terraform Labs changed the old LUNA token’s name to LUNC.
V22 Update for LUNC Validators
Terra’s gain is most likely due to the LUNC validator v22 update. The vote will pass, and the update will bring staking back to the network. According to internet rumors, 69% of the population voted. The vote in favor of the v22 update gives the stalled project much-needed momentum. Furthermore, the reintroduction of the staking feature benefits Terra Luna Classic.
We should be very close to 66% of #lunc validatos running the new software update v22.
— LunaticLuncLover69 (@luna_lover69) August 23, 2022
On August 26, Binance, the largest cryptocurrency exchange, announced that it would support the network update by suspending deposits and withdrawals until the upgrade was completed. According to Binance’s notification, it will not affect LUNC trading. However, the community has long desired this initiative. The rising price and trade volume reflect the generally upbeat mood.
The first step to restore #LUNC has been completed with staking transactions. ✅ Next up is 1.2 tax burns. We need all kinds of support in this process #Binance LUNC/USDT , LUNC/BNB etc. We ask for support for the opening of trading pairs. Retweet and let our voices be heard.
— Terra Classic Powered By #LUNC (@TerraClassicTM) August 27, 2022
LUNC DAO Staking Service
Terra Luna Classic’s price has recently skyrocketed. One reason for this is the new staking service offered by LUNC DAO. A group of Terra Luna Classic participants who are developers and community builders founded LUNC DAO. The community has already requested a LUNC burn. Its goal is to reduce the number of Terra Luna Classics in circulation to restore coin value. The LUNC DAO is a reliable and safe community validator.
Users can use this to earn a return on their LUNC tokens. It is used to purchase new LUNC tokens that are then burned. As part of the LUNC v22 network update, token staking became operational. @LuncStaking Bot tweeted on August 30 that over 402 billion tokens, or roughly 6% of the supply, have been staked. The first update from @LuncStaking Bot on August 27 revealed that 182 billion tokens, or 2.6% of the supply, had been staked.
Supply and staking of LUNC
2022-08-31 12:40 UTC#LUNC
— LUNC staking (@LuncStaking_Bot) August 31, 2022
Token holders had increased their stake by 120% in three days. According to Staking Rewards, the average yearly reward rate is 37.8%, making it one of the highest staking rewards available. On the other hand, unsustainable rates remain a concern, particularly during limited liquidity.
To further increase scarcity, developers have added token burning. According to the LUNC Burner website, more than 3 billion LUNC tokens have been removed from circulation. The procedure will help to reduce the amount that is currently in circulation. As a result, the value of the token rises.
Terra Luna Classic LUNC Technical Outlook
Terra Classic’s current price is $0.000164, with a 24-hour trading volume of $328,029,836. Terra Luna Classic opened the day at $18.53, reaching a high of $ 0.00016130 and a low of $ 0.00014970. Terra Classic has increased by 9.93% in the last 24 hours and nearly 22% in the last seven days. CoinMarketCap now ranks #211, with a live market cap of $1,079,854,878. The circulation supply is 6,585,063,472,161 LUNC coins, and the maximum supply is unknown.
Terra Luna Classic Daily Price Chart – Source: Tradingview
The LUNC/USDT is trading with a bullish bias at $0.0001648. However, the triple top pattern is extending strong resistance at 0.0001677, and Terra Classic is having difficulty violating this. On the higher side, a break above $0.0001677 can extend the uptrend until the $0.0002046 level.
Terra Luna Classic LUNC Daily Technical Levels
Pivot Point: 0.0001508
Alternatively, a failure to break above the $0.0001677 level can trigger selling in the LUNC/USDT pair, dropping to the support level of $0.000120. But in any case, forming the “three white soldiers” candlestick pattern can potentially drive an uptrend in LUNA. So, let’s consider buying trades over the $0.0001675 level and vice versa.
Terra Luna Classic Video Analysis
Tamadoge Presale Raises $9.6 Million
In addition to Terra Luna Classic, which has already priced in fundamentals, Tamadoge is in the spotlight; its price may skyrocket following the presale. The presale of one of the most widely-discussed and rapidly-expanding cryptocurrencies has now raised over half its hard cap or 9.6 million USDT.
Roll Up! Roll Up!
Reminder presale is live!
Get a piece before we go live on CEX!
— TAMADOGE (@Tamadogecoin) August 12, 2022
With the presale price increasing, Tamadoge (TAMA) has now sold more than half of its total token supply. Over half of the 1 billion TAMA tokens available in the presale have already been bought.
Thus, purchasing them during their pre-sale periods can be a practical way to safeguard your portfolio from falling stock prices. For instance, TAMA can be bought with ETH, USDT, or fiat money using a debit or credit card via the on-ramp Transak. Currently, one USDT is worth 44.44 TAMA; however, once Tamadoge raises the remaining $50 million, one USDT will be worth 40.00 TAMA.
Get familiar with making a cryptocurrency wallet so you can buy Tamadoge.
- Website – tamadoge.io
- Instagram – @tamadogecoin
- Telegram – t.me/tamadogeofficial (admins will never DM you first)
- Twitter – @tamadogecoin
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