The Terra Classic (LUNC) community staked 3.5 billion LUNC tokens in one day. With this transaction, the total amount of tokens staked reached 958.8 billion. Thanks to this development, we have witnessed once again how determined the community is in its journey to revitalize existence, the details are in our news.
3.5 billion staking by Rex “Rexyz” Harrison, a senior member of the TerraCVita development group announced. Rexyz highlighted the success at this point by encouraging the wider crypto community to jump on the moving train. In addition, he said that the community only needs to stake 42 billion tokens to reach the 1 trillion staked token milestone.
Data from Smart Stake Analytics reveals that the total amount of staked tokens, currently at 958.8 billion, represents 14% of LUNC’s total supply. It is worth noting that KuCoin recently reacquired 47.9 billion tokens at the same time, bringing the total number of staked tokens to 946 billion as of last Wednesday. This is an impressive achievement by the community.
So what does this staking mean for LUNC? Rexyz has repeatedly stressed the importance of staking in the journey to LUNC’s revival. According to a February 13 tweet, the L1 Task Force developer stated that the way to increase the asset 100 times is staking.
Koinfinans.com He underlined that as we reported, the app brings several benefits, including reduced circulating supply, increased security of the network, supporting the asset by putting upward pressure on its price, and bringing demand by attracting investors.
Also last month, Rexyz stated that staking is the fastest way for LUNC to reach 100x. According to him, if the amount of token staked can increase to 50% of the total supply of the asset, its value could double. In addition, if the staked tokens reach 75% of the total supply, a 2x increase in price can be achieved.
You can follow the current price action here.
Source : the crypto basic