A key fundamental catalyst for the $LUNC
price is the ongoing token burn. A burn happens when cryptocurrencies are removed from circulation by being sent in an inaccessible address.
In Terra’s case, over 393 billion tokens representing 84% of the total have been burned since its inception. 2.36 billions of these tokens were burned in the past seven days. This trend may continue for a long time.
Terra Classic price may also jump because of an upcoming upgrade to its network. The new upgrade will mainly focus on simplifying the tax handling for the network. Most importantly, it will also let developers on Cosmos build on the Terra Classic network.