LUNC is the abbreviation of LUNA classic, and it is the new name for the old Terra blockchain that was commonly known as Terra 1.0. It is not a new token but is the updated version of LUNA. LUNA classic has more updated protocols as compared to LUNA. KuCoin is enabled with the LUNC, and the user can trade in this crypto. This is not a regular currency but has many differences. KuCoin fully supports LUNC and provides the users with the best experience of LUNA Classic.
In this article, we are going to learn more about the LUNA classic and will also discuss its features and aim to produce the coin.
What Is LUNC?
LUNC, LUNA classic, or Terra Classic is similar to a decentralized, open-source, public blockchain. The primary purpose of creating LUNC is to combine the freedom and anonymity of the decentralized currency and the stability of the FIAT currency so that the user can have a stable coin to invest, which they can quickly and conveniently trade. It is the native token of the Terra classic blockchain to maintain the coin stability of the currency.
Many other unique systems and blockchains offer stable cryptocurrency. Still, the LUNC is unique in that it employs a different approach to maintain the balance between the supply and demand of stable coins and handle it with the one-on-one peg with FIAT currencies. The LUNC is produced or burned based on the market and collection of the Terra Classic Stablecoins to maintain their value.
Columbus-5 Mainnet Upgrade
Columbus-5 Mainnet upgrade was launched in September of 2021, and it has caused the prices of LUNC to reach an all-time high. The main reason is that the Columbus-5 Mainnet upgrade causes the coin to burn instead of going towards the other apps after the community pools for reinvestment permanently. The permanent burning of LUNC coins increased their value by increasing the supply and demand gap.
The LUNC usdt is now facing a time low. The coin reached the highest value of more than $100, but now it is valued at just $ 0.00005922. This was because of the fall in the Bitcoin and the unsuccessful burning of the coin due to inaccurate numbers of UST. There were several attempts to stop the currency’s fall, but all were in vain. An entirely new blockchain was also planned, but it was never initiated.
Future Of LUNC
The LUNC is all that is left behind the LUNA and is currently at an all-time low. But the experts are optimistic that it may rise again. This is an excellent opportunity for risk-loving investors to purchase the LUNC and wait. The current price is meager, and there can be thousands of coins easily purchased. KuCoin offers LUNC trading, so if you want to invest and buy this crypto, there is no better option than KuCoin. Besides that, it provides the latest crypto trends of popular and exceptional currencies such as BTC price ,ADA price etc.