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Terra Classic (LUNC) Can Blow Its Price! December LUNC Comment!


The Terra community and a significant part of the LUNA victims have united around LUNC. Of course, a group of speculators was also included in this community. The claims put forward by some popular accounts, especially in the process related to the incineration mechanism, were extremely manipulative. What was interesting was the large number of investors who believed the wrong information and the fact that this crowd partially convinced the Binance CEO to burn.

Terra Classic (LUNC)

The community has already begun to prepare for the upcoming changes and price rallies, with developers, validators and projects offering various proposals. The LUNC price fell as low as $ 0.00015 after the collapse of the crypto exchange FTX. However, LUNC continues to remain on the agenda as it sees more cremations. Terra Rebels introduced the v23 upgrade after successfully implementing the Terra Classic v22 upgrade, which made management changes, staking and burning possible. The upgrade aims to reactivate the inter-blockchain communication Dec Dec (IBC) between the Cosmos blockchain and the Terra Classic ecosystem. The IBC channels had been closed during UST depeg to prevent the loss of funds.

Terra Rebels core developer Edward Kim has announced that they are expecting serious movement in developer activity on the network after the v23 move involving the CosmWasm upgrade. This is important because a Terra Classic (LUNC) without benefit-generating projects in its ecosystem will be no different from any meme token.

December LUNC Forecast

Terra Rebels core developer Edward Kim’s proposal 10950 to reactivate the three IBC channels for Osmosis, Crescent and Juno was seriously supported. The proposal was accepted in just 9 hours. The developers will reopen the IBC channels on December 5 in the block with an estimated number of 10,542,500. On the same days, Binance will announce the LUNC burn data for November. The total amount burned will also increase with the news of the Binance exchange, which is expected to burn an estimated 3-4 million dollars.

In addition, Edward Kim, program director of the Terra Grants Foundation (TGF), also announced the developer support proposal with October 10946. Accordingly, 750 million LUNC tokens will be allocated to developers and projects on the network. Upgrades at the validator and network levels can help restore the benefit and increase the LUNC price. At the same time, developer funding can also allow us to see applications that work on the network. Although speculative price movements are making, there are some critical developments that may increase the LUNC price in December. Investors should make their decisions based on their own risk profile.

The community has locked up 13% of the total supply with 896.06 billion LUNC tokens. They earn staking income from these tokens, and the total amount of LUNC burned has reached 28,434 billion LUNC tokens.

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