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Launch of Terra Luna Classic Staking drives price up 60%

 


Who is behind LUNC DAO?

LUNC DAO was developed by a group of developers and community builders who have been part of Terra Luna Classic since its inception in 2020. Many of the groundbreaking decentralized applications (dApps) in the LUNC ecosystem have been coded by LUNC DAO team members, including the Prism protocol with a combined TVL of $150 million.


A few months ago there was a suggestion to initiate a LUNC burn, which was already being requested by the community before the currency went under. The idea behind it is to reduce the amount in circulation of Terra Luna Classic in order to increase the value of a single coin again.



How does LUNC DAO work?

LUNC DAO is a dedicated and secure community validator. With this you can stake your LUNC tokens and thus generate a return. This is used to buy new LUNC tokens and then burn them. No financial gain is generated by staking and it is much more a voluntary donation. With the help of that method, the amount in circulation is to be reduced. Consequently, the value of the token will increase.


Effects on Terra Luna Classic

The launch of the validator had a positive impact on the market. The currency is up more than 20% in the last 24 hours alone. Furthermore, the trading volume in the last 24 hours increased to 380,839,641 US dollars. This corresponds to an increase of over 542%. As a result, the current market cap has also increased to $805,136,576.


The introduction of the validator is not only a complete success in terms of course technology. Positive effects can also be seen on social media. The #LUNC is currently trending with over 24,000 tweets. So it's safe to say that the community is excited about the new developments.


Should I still invest in Terra Luna Classic now?

The successful system of the validator and the resulting positive effects show that the Terra Luna community is positive and willing to continue to support LUNC DAO. The commitment shown has enabled the coin to rise rapidly over the past three months. This success should also be maintained in the following months and guarantee an increase in the value of the coin.


LUNC DAO plans to burn more Terra Luna in the near future. A price increase is therefore highly likely. Despite all this, an investment in Terra Luna remains risky. The events of previous months are still affecting the coin's image and making investors critical.


So for investors who like to speculate and love risk, it is definitely worth considering. However, it should be mentioned that the expected pump has not yet materialized. Nevertheless, the community remains confident behind the project and believes in its success. So, such confidence could produce the hoped-for pump.

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