Brace For Impact: Court Orders Massive LUNC Burn As Part Of $4.5 Billion Settlement For Terraform Labs

Quick Summary:

Ahead of the burn, Terra Classic community members have also been told to withdraw their assets locked on the Shuttle Bridge, as it will also be closed during the LUNC burn and never be opened again.  Terraform Lab’s imminent LUNC burn is undoubtedly a positive for the coin, as this could provide much-needed bullish momentum and lead to a significant price surge.

However, the community still has a lot of work to do, considering that LUNC still has a circulating supply of 6.76 trillion.  Other Steps Taken By The Terra Classic Community In addition to LUNC burns, the Terra Classic community has taken other steps to help revive the coin and restore it to its glory days.

Moreover, this aligns with the Terra Classic community’s mission to remove as many coins as possible from circulation to revive LUNC.  They believe this deflationary mechanism could help send the coin back to its current all-time high (ATH) of $119.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: LUNC news LUNC burn Terra news LUNCUSDT LUNCUSD Terra LUNC LUNC price

Source Website Secure: Yes (HTTPS)

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-23 @ 18:00:53 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 460 words

Reading Time: 3 minutes read

Sentences: 69 lines

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News ID: 23217277

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