Terra Luna Classic Community Awaits Major Token Burn After SEC Settlement

The Terra Luna Classic community is eagerly anticipating a significant token burn following a court order in the SEC case against Terraform Labs (TFL). Here’s what we know:

Token Burn Estimates: Over 1 billion USTC and 275 billion LUNC tokens could be burned.

SEC Settlement: The burn is part of a $4.47 billion settlement between Terraform Labs and the SEC.

Previous Burns: 251 billion LUNC and 264 million USTC tokens have already been burned.

Community Efforts: Binance has eliminated over 1 billion LUNC tokens in its 27th batch.

Potential Impact: While the burn will reduce circulating supply, market experts suggest the effect on prices may be limited due to the large remaining supply.

Terra Luna Classic Tokenomics:

Price: $0.00005933 (2.7% increase in 7 days)

Market Cap: $326 million

Circulating Supply: 5.52 trillion LUNC

Total LUNC Burned: 417.41 billion since May 2022

Despite the challenges, the community remains hopeful for a price rally