The Terra Classic community has successfully brought the price of LUNC to the expected price target of $0.0005. With a market cap of nearly $3.5 billion, Terra Classic has now entered the top 30 crypto list. The price has jumped over 55% in a day and 300% in the last 10 days. After this, the community aims for a short-term target of $0.01.
Terra Classic (LUNC) has tremendous support from the community. With a massive daily trading volume that continues to exceed $2 billion, the price of LUNC has now reached a target of $0.0005. Interestingly, Terra Classic has now become a top 30 cryptocurrency, based on CoinMarketCap.
The price of LUNC has risen 37,000% from its lows during the Terra crisis. In fact, the price has jumped almost 350% in the last 10 days due to burning, staking, project construction, ecosystem education and governance activities. Over 500 billion LUNC tokens have now been staked and nearly 3.62 billion LUNC tokens have been burned.
In the past 24 hours, the price of LUNC has surged over 55% supported by a strong trading volume of over $2.75 billion. LUNC's market cap is nearly $3.5 billion, leaving behind Monero, Stellar, Bitcoin Cash and other popular cryptocurrencies.
The community decided on a short-term target of $0.01 earlier this week. If Terra Classic continues to record daily trading volume above $2 billion, the price target may be hit this month.
At this point, the Terra Classic community is looking to approve the proposed 1.2% tax burn. If approved, the 1.2% tax burn will be implemented by September 20. Currently, crypto exchanges such as MEXC Global, KuCoin, Gate.io and CoinInn have agreed to support the proposal.
