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$LUNC, or Luna Classic, refers to the original Luna token from the Terra blockchain ecosystem before it underwent a significant event known as a "hard fork." Here's a detailed overview: - **Origin**: Luna Classic (LUNC) was the native token of the original Terra blockchain, which aimed to facilitate a stablecoin ecosystem. Terra's stablecoins, like TerraUSD (UST), were designed to be algorithmically pegged to fiat currencies, with Luna playing a crucial role in maintaining these pegs through a system where Luna could be minted or burned to stabilize UST's value. - **The Collapse**: In May 2022, the Terra ecosystem, including UST and Luna, experienced a dramatic failure. UST depegged from the US dollar, leading to a massive sell-off and loss of value for both UST and Luna. This event caused the original Terra blockchain to fork into two separate chains: - **Terra Classic**: This chain retained the original LUNC token. It's essentially the continuation of the old Terra network but without the algorithmic backing for its stablecoins. - **Terra 2.0 (LUNA)**: A new chain was created with a new version of the Luna token (LUNA), aiming to rebuild the Terra ecosystem without the algorithmic stablecoin mechanism that led to the collapse. - **Current Role**: After the fork, LUNC has no direct role in stabilizing any stablecoins since the original mechanism was abandoned. However, LUNC still exists within the Terra Classic blockchain: - **Utility**: It can be used for transaction fees on the Terra Classic network, staking, and governance within the Terra Classic ecosystem. - **Burn Mechanism**: The community has initiated various burn mechanisms to reduce the supply of LUNC, aiming to increase its scarcity and potentially its value. This has been a significant point of community activity and discussion, with millions, if not billions, of tokens being burned. $LUNC
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11-August-2025: Terra Classic $LUNC Max Supply: LUNC 6,492,553,401,634 Token Burnt previous day: LUNC 28,659,881 (🔴-0.0004%) Terra Classic $LUNC Price: USD $0.00006194 (🔴-0.58%)
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$ETH -> What Now? Ethereum’s recent rally has flipped its strongest resistance into support, a level that kept price under for the past year. This is a pivotal moment, marking the shift from a sideways-bearish trend into a bullish one From here, the next obvious target is the previous ATH at $4,800, with the nearest support sitting at the green zone. $ETH
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