Terra Classic (LUNC) has surged 90.11% in the past 24 hours, despite the overall cryptocurrency market declining. This increase follows a 101.59% rise over the week, driven by three main factors:
1. Legal resolution: The verdict of Do Kwon on 11/12 has raised hopes of easing pressure from regulations.
2. Token burning: 849 million LUNC has been burned in 7 days, helping to reduce supply faster.
3. Network upgrade: Binance temporarily halted withdrawals to prepare for Terra's v2.18 upgrade on 8/12, demonstrating efforts to stabilize the system.$#LUNC✅ burning tokens helps reduce the circulating supply of 5.48 trillion LUNC by approximately 0.015% each week, creating deflationary pressure on the currency.
Binance's monthly burns (accounting for 50% of LUNC fees) create predictable supply shocks.
To watch: Will the daily burned token volume remain above 100 million after the upgrade?
3. Network upgrade & Technical breakout (Positive impact)
Overview:
Upgrade: The v2.18 version on 8/12 of Terra aims to fix the IBC vulnerability and improve stability.$LUNC
1. Legal resolution: The verdict of Do Kwon on 11/12 has raised hopes of easing pressure from regulations.
2. Token burning: 849 million LUNC has been burned in 7 days, helping to reduce supply faster.
3. Network upgrade: Binance temporarily halted withdrawals to prepare for Terra's v2.18 upgrade on 8/12, demonstrating efforts to stabilize the system.$#LUNC✅ burning tokens helps reduce the circulating supply of 5.48 trillion LUNC by approximately 0.015% each week, creating deflationary pressure on the currency.
Binance's monthly burns (accounting for 50% of LUNC fees) create predictable supply shocks.
To watch: Will the daily burned token volume remain above 100 million after the upgrade?
3. Network upgrade & Technical breakout (Positive impact)
Overview:
Upgrade: The v2.18 version on 8/12 of Terra aims to fix the IBC vulnerability and improve stability.$LUNC