What is LUNC Coin? Critical warning and curiosities for LUNC

What is LUNC Coin? LUNC is the coin of the Terra Classic chain. Terra Classic is the older version of Terra 2.0, which was released a few days ago.

• Market capitalization: 930 million dollars
• Circulating supply: 6.5 trillion LUNC
• Total supply: 6.9 trillion LUNC
• Highest price level: 119.18 dollars
• Lowest price level: 0.00001675 dollars

As it is known, earlier this month, when Terra's algorithmic stable coin UST decoupled from the dollar, the price of LUNA, which was constantly printed to stabilize UST at $ 1, also suffered a huge loss in value. As a result, the entire Terra chain almost disappeared in a death spiral. Do Kwon, the founder of Terra, proposed a new chain as a solution. This was dubbed Terra 2.0. The new chain is called Terra and its token is called LUNA, while the old chain is called Terra Classic and its token is called Luna Classic. The supply of the old coin, Luna Classic, remained at 6.5 trillion as new ones were constantly being released to stabilize the UST price. The "Classic" suffix is thought to be a reference to Ethereum's split into Ethereum/Ethereum Classic after the DAO hack in 2017. Kwon on UST and LUNA collapse in "Terra's DAO hack moment" as the "most important thing in the world".

Which exchanges are LUNC Coin traded on?

While you can buy LUNA, the coin of the new chain Terra, on many exchanges, Luna Classic (LUNC) is also available on many exchanges. For example, LUNC has started trading on major exchanges such as Binance, KuCoin, FTX and Kraken. More exchanges are expected to launch trading in LUNC in the coming days. Listed on Binance today, LUNC opened at $0.00010 and rose as high as $0.00029. LUNC saw a 170% increase in a short time, but this did not last long. As of 3:20 p.m. PT, LUNC is trading at $0.000143. LUNC's current market capitalization is close to $1 billion.

Warning for LUNC

As LUNC opens for trading on exchanges, a warning on the project's CoinMarketCap page draws attention. The warning states that caution should be exercised against the great volatility in the price. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!