Terra Classic Update confirmed: Can Lunc reach the $ 1 brand in 2023?

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Nach einigen schwierigen Monaten konnte die Terra Classic (LUNC) am letzten Tag nur einen kleinen Anstieg verzeichnen. Doch nun gibt es eine aktuelle Ankündigung, die das Blatt für die umbenannte native Münze des Terra-Ökosystems wenden könnte. Die Terra Classic-Kernentwicklergruppe Joint L1 Task Force (L1TF) hat ihr Statusupdate für das zweite Quartal 2023 sowie Pläne für das dritte Quartal veröffentlicht. Dies wurde vom L1TF-Projektmanager „LuncBurnArmy“ am 10. Juli bekanntgegeben. Gemäß den Plänen beabsichtigt die Entwicklergruppe, den Schwerpunkt auf die Reduzierung des zirkulierenden Angebots von LUNC und der Stablecoin TerraClassic (USTC) zu legen. Dies soll durch die Verbrennung von LUNC durch Validatoren …
After a few difficult months, the Terra Classic (LUNC) only had a small climb on the last day. But now there is a current announcement that could turn the sheet for the renamed native coin of the Terra ecosystem. The Terra Classic Kernkern developer group Joint L1 Task Force (L1TF) has published its status update for the second quarter of 2023 and plans for the third quarter. This was announced by the L1TF project manager "Luncburnarmy" on July 10th. According to the plans, the developer group intends to focus on reducing the circulating offer of LUNC and the StableCoin Terraclassic (UStC). This should be used by the burning of lunc by validators ... (Symbolbild/KNAT)

After a few difficult months, the Terra Classic (LUNC) was only able to record a small increase on the last day. But now there is a current announcement that could turn the sheet for the renamed native coin of the Terra ecosystem.

The Terra Classic Kern developer group Joint L1 Task Force (L1TF) has published its status update for the second quarter of 2023 and plans for the third quarter. This was announced by the L1TF project manager "Luncburnarmy" on July 10th.

According to the plans, the developer group intends to focus on reducing the circulating offer of Lunc and the StableCoin Terraclassic (UStC). This is to be achieved by burning Lunc by validators. Such a reduction in the offer can lead to an increase in the coin price, as this typically increases demand.

The Lunc community has made its concern in recent months that important validators were absent in the combustion campaign. In this context, a validator named "Classycrypto" announced that it would burn 100 % of its commissions by the end of 2023 to restore the Lunc Burn narrative of the validators.

The price of LUNC is currently $ 0.00008296. This corresponds to an increase of 1.84 % compared to the previous day, but a decline of 4.26 % compared to the previous week and a loss of 7.74 % in the last month.

In summary, it can be said that the price of LUNC could possibly increase if the circulating offer decreases with the new announced measures. However, whether Lunc can achieve the coveted price level of $ 1 depends on other factors such as other relevant developments and the general atmosphere on the cryptocurrency market.

Please note that the content of this article should not be regarded as investment advice. Investing is speculative and carries risks for your capital.

Source: Coinphony