What Causes The LUNC X2 Price To Fall In Just A Few Hours?

June 29, 2022 - Around 2 mins mins to read

At the time of writing, the LUNC price had risen 73.31% to $0.000147.Even at some point, the value of the LUNC has recorded an increase of more than 100%.

LUNC ACCEPTED AS A PAYMENT METHOD IN THE STARSHIP UNIVERSE

Surely we have not forgotten the nightmare of the collapse involving UST and LUNA in recent times. Terra’s CEO, Do Kwon, decided to go ahead and create another version of Terra and separate the relationship between the two coins, creating Terra 2.0. Accordingly, UST will be changed to Terra Classic USD (USTC), and LUNA will be altered to Terra Luna Classic (LUNC).

When Terra 2.0 is officially commissioned, the orientation community intends to regulate the operation process and use cases of Terra Luna Classic. On Sunday, the 1.2% tax-burning mechanism introduced in proposal 3568 was adopted. This will start to reduce supply; for the community, this is excellent news, just what they wanted.

Most recently, news of StarShip accepting Terra Luna Classic as a payment method is believed to be the next source of shock for the current LUNC price boom. As a result of Terra Luna Classic’s new partnership with StarShip, Terra Luna Classic will be implemented into the StarShip ecosystem as a form of payment in StarShip Universe. 1.2% of the total Terra Luna Classic received for these payments will be burned to reduce supply.

FLUCTUATIONS IN THE PRICE OF LUNC AND OTHER CURRENCIES IN THE TERRA 2.0 ECOSYSTEM

As noted by BeInCrypto, the market capitalization of LUNC has nearly reached the $1 billion mark. Other currencies such as USTC also saw more than 300% growth.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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