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Terra classic Coin (LUNC)

0xbd31ea8212119f94a611fa969881cba3ea06fa3d

Coin Details

What Is Terra Classic Coin (Lunc) ?

Overview

Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.

Development on Terra began in January 2018, and its mainnet officially launched in April 2019. As of September 2021, it offers stablecoins pegged to the U.S. dollar, South Korean won, Mongolian tugrik and the International Monetary Fund’s Special Drawing Rights basket of currencies — and it intends to roll out additional options.

On May 28, 2022, the genesis block of the new chain was launched to conduct future transactions under the name Terra (LUNA), and the original Terra Chain was rebranded as Terra Classic. The original native token — LUNA has also been renamed as LUNA Classic (LUNC). Moreover, all network stablecoins (UST, KRT, EUT) have been renamed to Terra Classic stablecoins (USTC, KRTC, EUTC). There will be no Terra stablecoins on the new chain.

There is a theory that the additional term “classic” is a reference to the Ethereum / Ethereum Classic split in 2017. According to CEO, Do Kwon, the collapse of UST in the spring of 2022 is the equivalent moment of the Ethereum’s DAO hack that took place in 2017.

  • Terra classic Price Prediction 2024

    According to the technical analysis of Terra classic Coin (LUNC) prices expected in 2024 Minimum $0.006 Maximum $0.01

  • Terra classic Price Prediction 2025

    After the analysis of the prices of Terra classic Coin (LUNC) in previous years, it is assumed that in 2025, the minimum price of Terra classic will be around $0.19 The maximum expected Terra classic price may be around $0.65

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