Terra Classic Price Keeps Pumping Higher - LUNC up 80%

cryptonews.com:

Terra Classic (LUNC) appears to be making a comeback following its apparent collapse in early May 2022. One of the year's most impressive comebacks is taking shape around the token. LUNC has increased by 37,000% ever since it gained its bottom following the Terra collapse. 

The 1.2% token burn tax on all transactions significantly contributes to this exponential growth. This project is working on making LUNC a deflationary currency as its economy improves.

Terra Classic's current price is $0.000517, with a 24-hour trading volume of $3.7 billion. Terra Luna Classic opened the day at $0.0004057 after reaching a high of $0.0004500 and a low of $0.0004003.

CoinMarketCap now ranks #26 with a live market cap of $3.1 billion. It has a total circulating supply of 6,151,072,613,161 LUNC coins.

Terra Classic has increased by 8.19% in the previous 24 hours. On the weekly charts, the tokens' performance is even more spectacular, as LUNC rocketed over 80% in the last seven days.

The v22 update is most likely what enabled LUNC to achieve triple-digit growth. Following the enhancement, investors may reinvest in the network. According to Staking Rewards, LUNC rewards up to 37.8%, which is very appealing to investors. However, unsustainable interest rates remain a concern, particularly in times of limited liquidity. To increase scarcity, developers included token burning.

According to the LUNC Burner website, more than 3 billion LUNC tokens have been removed from circulation. The operation will contribute to reducing the amount already in circulation. However, the token's value is increasing. Binance, the leading cryptocurrency exchange, announced on August 26 that it would assist the network update by suspending deposits and withdrawals until