- Terra Luna Classic’s staking ratio nears an all-time high of 15.16%, with over 1.025 trillion LUNC staked.
- LUNC and USTC prices see slight gains amid positive community sentiment.
LUNC and USTC Prices See Modest Gains Amid Community Optimism
The Terra Luna Classic (LUNC) community is abuzz with excitement as the network approaches a significant new milestone. The staking ratio for LUNC is nearing its all-time high of 15.16%, marking a crucial achievement for this community-led blockchain.
Staking Momentum Builds
In recent days, the Terra Luna Classic staking ratio has surged to 15.13%, inching closer to the record 15.16%. The community remains optimistic, with hopes that the staking ratio could soon reach 20%. According to data from StakeBin, over 1.025 trillion LUNC tokens are now staked on the network, bolstered by substantial recent delegations to validators.
A notable development in this staking surge comes from LuncLive, a prominent validator in the Terra Luna Classic network. Mr Diamondhandz1, the owner of LuncLive, announced that the validator has hit a new all-time high, with over 21 billion LUNC staked. This milestone included a significant single transaction of 1.3 billion LUNC, valued at approximately $90,000, from a Binance wallet.
Further fueling community optimism is the completion of the Oracle Split logic by Terra Luna Classic developer Fragwuerdig. This development aims to divert community pool rewards from tax burns to the Oracle Pool (OP), enhancing long-term staking rewards. A proposal to update the terrad client to version 3.1.0 will be submitted for validator and community approval.
LUNC and USTC Prices Edge Upward
The recent developments have had a modest positive impact on the prices of LUNC and USTC. Over the past 24 hours, LUNC’s price has seen a slight increase of over 1%, currently trading at $0.00007175. Despite failing to surpass the $0.000072 resistance level, the community remains hopeful for further gains as the broader cryptocurrency market recovers and token burns by TerraForm Labs (TFL) continue.
In the same period, USTC’s price climbed by 0.69%, reaching $0.0161. However, both LUNC and USTC have experienced a decline in trading volume, with LUNC’s trading volume dropping by 32% and USTC’s by 52%. This decrease in trading activity suggests a current lack of interest among traders.
As the Terra Luna Classic community continues to drive forward with staking initiatives and development projects, the anticipation for reaching new milestones grows. The ongoing efforts to enhance staking rewards and the broader market’s recovery could potentially lead to further positive momentum for LUNC and USTC.
With community sentiment remaining high and significant developments on the horizon, Terra Luna Classic is poised for an exciting period ahead.
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