Terra Luna Classic Approaches New Milestone Ahead TFL LUNC & USTC Burn

Terra Luna Classic community expressed positive sentiment as LUNC staking ratio approaches near all-time high of 15.16%, a new milestone for the community-led chain. The move comes as total LUNC staked jumps to 1.025 trillion amid massive delegations to validators.

Terra Luna Classic Staking Ratio Rises Towards ATH

Terra Luna Classic staking continues to pick pace as people staking large amounts on the chain. LUNC staking ratio has jumped to 15.13% today, near ATH of 15.16%. The community expects staking ratio to rise to 20%.

According to the latest data by StakeBin, over 1.025 trillion LUNC has been staked on the network. The major push happened after over 2 billion in the last 24 hours.

Mr Diamondhandz1, a popular community member and owner of LuncLive validator, revealed that the validator has reached a new ATH with over 21 billion LUNC stake. Massive 1.3 billion LUNC ($90k) were staked in a single transaction from Binance wallet.

Terra Luna Classic developer Fragwuerdig completes development of Oracle Split logic that will divert community pool rewards from tax burn to the Oracle Pool (OP) boosting long-term staking rewards. A proposal will be submitted to get validator and community approval to update terrad client to v3.1.0.

Also Read: Binance Reportedly Assisting Terra Classic Community With USTC Revival

LUNC and USTC Prices Jumps With Market Rebound

LUNC price jumped over 1% in the past 24 hours, with the price currently trading at $0.00007175. It pares some gains and failed to surpass the $0.000072 level, but the community remained hopeful about a massive upside momentum as the crypto market recovers amid token burn by TFL.

The 24-hour low and high are $0.00007022 and $0.00007242, respectively. Meanwhile, trading volume decreased by 32%, indicating a lack of interest among traders.

Meanwhile, USTC price climbed by 0.69%, with the price now trading at $0.0161. The 24-hour low and high are $0.01580 and $0.01642, respectively. Trading volumes saw a 52% decline in the last 24 hours as traders remain uninterested.

Also Read: US SEC Closed Door Meeting: Implications For Ripple, Binance, Crypto Market

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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