A moment everyone in the Terra Classic (LUNC) community has been waiting for finally arrived. Since TerraForm Labs deteriorated and had to give up Terra Luna Classic, the chain has been given back to the community. CoinGecko, the largest crypto price tracker around the globe, now has officially recognized this by updating from TerraForm to LUNC community links.
Since distancing from TerraForm Labs earlier this year, the LUNC community has moved to build a brand new website, encompassing the decentralized applications (dApps) & activities on this veteran L1 blockchain. For the uninitiated, Terra Luna fell apart in May, 2022, due to a $40 billion crunch in Terra’s UST & LUNA tokens, which were tied to one another at the time.
The Game-Changing Moment LUNC Has Longed For?
After the UST stablecoin de-pegged, both tokens crumbled to pieces, but the loyal community stayed. Right now, major crypto price aggregators are starting to update the information on their platforms, as it took trials & tribulations for Terra Luna Classic (LUNC) to achieve this level of decentralization, but the price appreciation hasn’t come through yet due to the overprinted supply.
Indeed, the refurbished Terra Classic site sheds some light on what’s still active in the legacy independent version of the Layer-1 chain that was once a TOP 5 crypto by global market cap. Right now, the game-tested altcoin is available on 76 centralized exchanges(CEXs) & 17 DeFi exchanges & LUNC staking protocols. Nearly 15.6% of all of the 6.49T LUNC supply is staked.
Why Terra Luna Classic’s Price Flopped 6% Today
Further on, Terra Classic’s website provides official links to 16 decentralized applications (dApps) & 10 blockchain games or entertainment apps. Updating by CoinGecko is a big step towards acknowledging a new phase in Terra Luna Classic (LUNC), but there’s still 8 major crypto platforms with the wrong links in place, according to crypto trader Dawid Skinder’s count.
Meanwhile, Terra Classic’s native LUNC token has been on a rough path this year, tumbling by 52.5% in a yearly timeframe. Priced at $0.00005777, LUNC dipped 6.3% today alongside a big correction for Bitcoin (BTC), letting the crypto bears out on Friday evening. Even though BTC’s price dipped by 5% to below $104,000, the flagship asset is still up 10% in a 30-day term.
On the other hand, LUNC price failed to capitalize on Bitcoin’s (BTC) new all-time peak of $111K. The altcoin was taken out of the TOP 200 by global market cap due to fierce competition.
Right now, Luna Classic Layer-1 chain is whipping up just $13 million in trading volume for the past 24 hours. On top of that, the altcoin can’t restore the $0.0001 LUNC price resistance threshold since January 18, 2025, according to CoinGecko.
On The Flipside
- Aside from technical on-chain advancements, the Terra Luna Classic community has been relying on LUNC burns.
- So far, 409.74 billion Luna Classic tokens have been eliminated from the supply, with 5.46 trillion still in play.
Why This Matters
The scale of the 3-year deficit after the TerraForm Labs downfall in 2022 has resulted in many third-party websites neglecting to update links to the community ones.
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LUNC is the original token of the Terra blockchain, renamed after a major crash in May 2022. It’s now run by the community and supports apps like Terraport.
LUNC’s price moves due to market trends, token burns (reducing supply), and news like Binance support or legal issues from the 2022 crash.
The community destroys (or “burns”) LUNC tokens to reduce the total supply, which could help increase the price. Over 405 billion LUNC have been burned since 2022.
Recent updates include a proposal to pay developers, plans to shorten the 21-day staking withdrawal period, and Binance burning 760 million LUNC tokens.
Some believe LUNC could rise due to burns and upgrades, but it’s risky and depends on market conditions.
