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Luna Classic
LUNC
$0.00006295
+61.78%
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158,846.18
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Luna Classic latest news
TERRA LUNA CLASSIC JUST PUMPED OVER 100% - SO WHAT COMES NEXT?
Youtube Video
10 hrs ago
Terraform Labs Crypto Loss Claims Portal Launch
Terra - Medium
8 months ago
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Market data
Market cap
$345.79M
Rank
#117
24H volume
$677.92M
Circulating supply
5,492.78B LUNC
85% of total
All-time high
$119.18
-189332106%
All-time low
$0.00
74.25%
Total supply
6,479.92B LUNC
About Luna Classic
Luna Classic Price Summaries
Luna Classic's price today is $0.00006295, with a 24-hour trading volume of $677.92M. LUNC is +61.78% in the last 24 hours. It is currently -9.98% from its 7-day all-time high of $0.00006993, and 152.21% from its 7-day all-time low of $0.00002496.LUNC has a circulating supply of 5,492.78B LUNC.Terra is a blockchain protocol that seeks to create price-stable global payments systems using fiat-pegged stablecoins. The protocol uses a reserve currency called LUNA, which algorithmically stabilises the basket of fiat-pegged stablecoins that it utilises for facilitating programmable payments and open financial infrastructure development.
Created by Terraform Labs co-founders Do Kwon and Daniel Shin in January 2018, Terraās aim is to drive the rapid adoption of blockchain technology and cryptocurrency through a focus on price stability and usability. The protocol consists of two main types of tokens, TerraUSD and LUNA, the native token of the Terra blockchain. Terra (LUNA) launched its official mainnet in April 2019, and has since offered stablecoins pegged to the US dollar, South Korean won, Mongolian tugrik, and the International Monetary Fund's Special Drawing Rights basket of currencies, with plans to support more currencies in the future.
In February 2022, Luna Foundation Guard (LFG), a non-profit organisation supporting the growth of the Terra ecosystem, announced that it had just completed a private LUNA sale in an effort to maintain the stability of the TerraUSD stablecoin. The sale raised a total of US$1 billion - the largest to ever occur in the crypto space at the time.
Terra maintains the one-to-one peg on its stablecoins by using an algorithm that automatically adjusts the stablecoin supply. To do so, Terra encourages LUNA holders to swap LUNA and stablecoins at profitable exchange rates to match supply and demand for the stablecoins. Terraās blockchain uses proof of stake (PoS) for mining transactions, hence, LUNA represents a validatorās mining power in this blockchain.
Terra uses LUNA as its reserve currency, functioning as the protocolās staking token for mining transactions, as well as the maintenance of price stability for its stablecoins and the distribution of incentives to blockchain validators.
