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Exchanges Burn 2.5 Trillion Terra Classic, LUNC Price Soars

Author: Qadir AK

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Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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After various cryptocurrency exchanges and websites added support for Terra Classic, the price of LUNC increased. KaJ Labs, the creator of the Lithosphere blockchain core, intends to set aside $50 to $100 million for the burning of 2.5 trillion Terra Classic (LUNC) tokens. Beginning on October 1, KaJ Labs anticipates the Lithosphere (LITHO) Jot Art Finesse NFT collection and mixed RPG “Finesse” games to be available.

The total supply of Terra Classic is 6.8 trillion. The community wants to use the 1.2% tax burn or other burn mechanisms to get to a fixed supply of 10 billion LUNC tokens. 6.6 billion LUNC tokens have thus far been destroyed, 4.2 billion of which were done so by sending them to the burn address and the remaining 2.3 billion by paying tax.

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