Terra Classic’s (LUNC) has been rising steadily since the end of August. According to commentators, there are some important reasons behind this rise.
Terra Classic continues to rise without slowing down. in last May TOP who victimized its investors with the crisis and millions of dollars of rubbish After a long wait, Terra Luna is in a positive movement. August 20 since 600% showing an upward performance around LUNC continues to attract attention. Reaching its highest level since its launch, LUNC was released on September 8th. 0.000594 dollar reached level. There are important reasons that triggered such a strong rise that this crypto money emerging from its ruins will push it to diverge from the general crypto money market.
Staking Service
for Terra Classic on August 27 A staking service was launched, which attracted the attention of users. This service has turned into a strong trigger for the continued uptrend. Staking Terra Classic ranks among the highest returns in the crypto industry, according to StakingRewards data. Yearly 37.8% LUNC, which offers an attractive option for users with a return on income, also arouses retrospective doubts in minds. As it is known, before the collapse of Terra Luna, the company’s crypto money, which provides stablecoin services, was also providing staking services that offered large returns in this way.
However, with the arrival of bear season, things did not progress as expected and the staking service in question was unable to cover losses and refunds. Likewise, the long-term results of this high return interest offered through LUNC continue to cause worried thoughts among users.
LUNC Token Burn
Alongside the staking service, a new token burn service has also been introduced by the LUNC developers. This move to reduce supply on LUNC may be one of the important reasons behind the pricing. Terra Classic’s community member Edward Kim proposed at the beginning of September to impose a 1.2% tax on LUNC on-chain transactions. The proposal was accepted by the community and implemented. With the new application, the LUNC revenues from this tax will be sent to a dead address, thereby permanently removing a portion of LUNC’s supply from circulation.
In addition to all these bullish data,swelling“The price has recently been left out of volume does not go unnoticed. Many commentators are skeptical that users take note of these voluminous rises and that they are already short-lived. 6 times higher warns against chasing after a cryptocurrency.