The Terra Classic ($LUNC) and TerraUSD Classic ($USTC) networks are set to undergo a massive token burn, with the goal of drastically reducing the circulating supply. The process, which is expected to be completed by October 30, 2024, includes the burning of at least 250 billion $LUNC and 175 million $USTC, with the potential for these numbers to increase as other funds, such as those from the Luna Foundation, are also included.
This strategy could significantly impact the market value of tokens, as the supply reduction could increase interest and appreciation in the remaining assets. The burn also includes tokens not withdrawn from the Shuttle Bridge, which increases the magnitude of the operation. As this process is completed, the investor community will be watching closely to see how the supply reduction will affect market dynamics, especially with regard to $USTC, whose halving could be more significant.
While token burning can be seen as a promising measure to boost asset value, investors should consider the risks and closely monitor future developments in the Terra Classic ecosystem.
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