Terra Classic price recovery gathers momentum: here’s where to buy LUNC coin
- Terra Classic has surged above $0.0005211 after a magnificent 425.5% rise in the past 14 days.
- The bullish rally comes amid a tax burn proposal by the Terra Classic community.
- Here is a quick guide on where you can buy LUNC coin.
Since the fateful downfall of the original Terra LUNA due to the TerraUSD (UST) stablecoin crash and the resulting hard fork that resulted in two Terra blockchains (Terra Classic and Terra 2.0), Terra Classic’s LUNC coin has been struggling to regain its footing.
Since the fall Terra Classic, which is the old Terra LUNA blockchain and whose native token was renamed LUNC, has undertaken several upgrades and adopted a raft of proposals from its community to try to help LUNC recover. Some of the proposals adopted by Terra Classic include burning and staking LUNC.
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The most recent proposal that the Terra Classic community is expected to vote on in the coming week is the 1.2% tax burn proposal that has received support from several centralized exchanges including MEXC, Gate.io, and KuCoin among others.
To help traders seeking to take advantage of the current LUNC bull run, Invezz has prepared this brief guide on where to purchase the LUNC token.
To find out more, please continue reading.
Best places to buy LUNC coin
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What is LUNC?
LUNC is the native token of the Terra Classic blockchain which is a rebrand of the old Terra LUNA chain after the Terra hard fork that took place following the Terra LUNA crash caused by the crash of the UST stablecoin.
The Terra Classic chain is also home to the TerraUSD stablecoin which was renamed TerraUSD Classic (USTC).
Terra Classic has recently been integrated into the StarShip metaverse, which is one of the largest metaverses, where the LUNC token will be used as a mode of payment in the StarShip ecosystem and in return, StarShip will assist in the ongoing LUNC burn.
Should I buy LUNC today?
If you want to invest in a cryptocurrency that crashed a few months ago and currently showing signs of recovering, then the LUNC coin could be a good choice.
Nevertheless, you should be aware of the fact that buying the cryptocurrency market is extremely volatile.
LUNC coin price prediction
Going by the momentum of the current bullish trend, analysts are eyeing the possibility of Terra Classic dropping another zero in the coming weeks, especially after the implementation of the much anticipated 1.2% tax burn.