LUNC, or Terra Classic, used to be worth billions of dollars. It has become the most unprofitable asset among the top 100 largest cryptocurrencies by market capitalization by CoinMarketCap
by digital currency Lost almost 25% of its value during the week. with the greatest decrease during the last day.
The reason for the decline in recent days was the release of details about the burning of LUNC on the global cryptocurrency exchange Binance, which may be considered the most liquid. While many LUNC enthusiasts expected the token burning tax to be applied when transacting with Binance, Changpeng Zhao denied the decision.
CZ introduced a subscription for each user to burn digital currency. And said the complete solution will only come if more than 50% of LUNC trading volume has a subscription.
While Terra Classic has a total supply of 6.9 trillion tokens, only 800 million LUNC burned on the exchange on the first day after the update.
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