Terra Classic community demands Coinbase to list the LUNC token

Investors of the project claim that the asset is quickly recovering its position

12.10.2022 - 10:55

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What’s new? Members of the community of Terra’s original ecosystem, which was renamed to Terra Classic after the hard fork, created a petition urging the US crypto exchange Coinbase to list the project’s native token, Luna Classic (LUNC). As of October 12, the petition on Change.org was signed by 3 300 users. As an argument in favor of placing the asset on the platform, the community cites the thesis that the coin is quickly recovering its position.

Petition of the Terra Classic community

More detail about the situation. The authors of the petition added that “the Terra Classic ecosystem revival is in full flow,” given the reenabling of community control over governance, the implementation of deflationary measures, and blockchain modernization.

Along with the LUNC token, they also called for the listing of the TerraClassicUSD (USTC) asset. After the community approved the proposal to re-peg USTC to the US dollar, the asset rose by 57%.

As of October 12, 10:20 UTC, LUNC is trading at $0,000293, having gained 3,75%per day, according to Binance. The asset has a capitalization of $1,79 billion. USTC is trading at $0,0498664 (-6,95%).

On September 27, LUNC showed a 50% increase. This came after crypto exchange Binance announced the burning of LUNC received as trading fees. On October 3, Binance conducted its first burn of 5,5 billion tokens totaling $1,86 million and burned more than $850 000 worth of coins on October 10. The burning takes place every Monday at 00:00 UTC.

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