Terra Luna Classic (LUNC) is fading away in relevancy, giving way to newer altcoin counterparts to exit the TOP 150 by global market cap. However, thereโs a loyal LUNC community behind the embattled Layer-1 chain, collectively contributing to millions of LUNC token burns every week.
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Over the past 7 days, Terra Luna Classicโs (LUNC) community set ablaze 1,178,276,299 coins. On the other hand, the off-putting Terra Classic price performance could not be evaded due to very low trading volumes, usually hovering around $20 million per day on Spot markets.
LUNC, USTC $1 Price Targets Still Far-Fetched
Now, thereโs still a rather overprinted supply of 5.45 trillion LUNC tokens, while the once-thriving Terra Luna Classic (LUNC) dropped in price 69% in a yearly time span. Moreover, three years after the horrendous Terra Classic USD (USTC) de-pegging, the dedicated LUNC community started burning USTC in hopes to eventually peg it back to $1.
Similarly, Terra Luna Classicโs (LUNC) $1 restoration dream is also a long shot, as it would take an enormous LUNC supply reduction to roughly 1 billion tokens in circulation. As if that wasnโt enough, Terra Classicโs chain upgrades have been silent in the recent months, perfectly portraying the massive decline in LUNC developer activity.
Besides, the all-round crypto bloodbath on Monday didnโt miss Terra Luna Classic (LUNC), which further dipped below key support of $0.00006. These levels were touched on February 28, 2025, then resulting in a slight rebound to $0.00008, but the lack of bull power took the embattled altcoin back down.
The bearish trend is not obstructed by any bull resistance at the moment, as most other on-chain indicators also show negative values. The momentum-determining Stochastic Momentum Index (SMI) hovered between -21 and -23, indicating a fearful market sentiment, while the Chaikin Money Flow (CMF) was the only indicator pointing to neutrality.
On The Flipside
- Many crypto exchanges delisted Terra Luna Classic after 2022, but some top tier exchanges, including Binance & KuCoin, continue to support LUNC trading and upgrades.
- Binance is one of the heaviest Terra Classic token holders, also contributing for the majority of all-time LUNC burns, having eliminated 70.85 billion LUNC tokens out of circulation.
Why This Matters
After the bankruptcy of TerraForm Labs, the Layer-1 chain was given to the community, which has made efforts to restore the chainโs original value since the 2022 UST de-peg.
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