Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice. However, the trading volume remains low, suggesting limited interest from traders. LUNC’s price fluctuated between $0.0000836 and $0.0000891 in the past 24 hours. However, the community is strategizing for a potential short squeeze. LUNC price dropped by 1% in the last 24 hours and is now at $0.000086, missing the $0.000090 target. A South Korean court has issued an arrest warrant for Do Kwon, the primary developer of cryptocurrencies Luna. The L1 Task Force (L1TF) has outlined its plan, and experienced developers Edward Kim and Superman are rejoining the project to contribute their expertise to the chain’s development. Binance CEO: Regulation helps crypto credibility, but its not a magical pill. In Q3, the community and developer groups are prioritizing efforts to decrease the circulating supply of LUNC and USTC. The Quant team is directly engaging in discussions with Binance to address this goal. L1 Task Force (L1TF) and Quant developers are collaborating with Binance and other exchanges to stabilize USTC and bring it back to a $1 peg. In total, 35.58 Billion LUNC Burned by Binance, with an Additional 69 Billion LUNC Burned by the Community. Many members are now inspired to revive LUNC and USTC to $1, the price they were before the crash.īinance Completes 11th Token Burn, Destroying 2.65 Billion #LUNC Tokens. Terra Luna Classic Community Reactsīinance CEO Changpeng Zhao’s statement that the company still holds LUNC tokens and is committed to the development of the Terra Luna Classic chain has been met with positive reactions from the community. Despite this, Binance has retained the #LUNA (now LUNC) tokens received from the investment, which remain untouched and unsold on the original address. However, the value dropped to nearly zero in 2022. Binance continues to support the Terra Luna Classic community through monthly LUNC burns and the revival roadmap.īinance’s initial $3 million investment in Terra (now Terra Luna Classic) in 2018 saw significant growth, reaching a peak value of $1.6 billion in 2021. CEO Changpeng “CZ” Zhao shared key events and challenges in a statement, revealing that #Binance invested $3 million in Terra (now #TerraClassic ) and has not sold or moved its LUNC holdings. Zhao the founder of Binance, the world’s largest cryptocurrency exchange, pleaded guilty Tuesday, Nov. Now it’s less than 3,000, and the CEO is moving to protect users. How is UST adding fuel to LUNAs crash One UST may always. FILE - Binance CEO Changpeng Zhao answers a question during a Zoom meeting interview with The Associated Press on Nov. Binance’s Luna investment was worth 1.6 billion. Binance CEO’s disclosure of LUNC holdings has renewed community sentiment for Terra Luna Classic (LUNC) and USTC, aiming to raise their value to $1.īinance, the world’s largest crypto exchange, celebrated its six-year anniversary. CEO Changpeng CZ Zhao saved many investors from liquidation by selling a stablecoin for 0.70.
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