A Closer Look at Luna Classic(LUNC)

06/24/2022By: C, Fiona

A new Terra Chain has been launched, leaving Luna Classic. After Do Kwon and his Luna recovery plan saw the release of Luna 2.0 to replace the old currency, Luna Classic (LUNC) has been officially launched.

After Terra Luna voted, Terra launched a new chain, hoping to save the ecosystem from the collapse of Luna cryptocurrency in early May. At the same time, the old chainr still exists — called Terra Classic — along with its token Luna Classic.


What is Luna Classic?

Luna Classic (LUNC) is the original Terra Luna coin left after the new Terra chain launched after the recent UST/Luna crash.

The grand plan of Kwon’s recovery has introduced a brand-new chain on which future transactions will be conducted.

This leaves Luna Classic and Terra Classic chains. The new chain produced bears Terra’s name, as does its Luna token – known as Luna 2.0.

Luna Classic also inherited the existing 6.5 trillion Luna circulation supply. Luna of the package will also continue to use Luna Classic.

The word “Classic” may refer to the split of Ethereum / Ethereum classic after Ethereum’s Dao hacker attack in 2017. With Kwon saying that the collapse of ust is “Terra’s Dao hacker moment”, this seems to be another way to promote it.


Where Can I Buy Terra Luna Classic

Since you can buy Luna at several cryptocurrency exchanges, Luna Classic can be bought at many cryptocurrency exchanges. For example, these exchanges include Binance, KuCoin, FTX. Most cryptocurrency exchanges in Luna 2.0 previously supported Luna, so LUNC will continue to be supported.

In fact, some owners bought more Luna Classic before the new chain appeared. New tokens dropped by Luna 2.0 include distributions to existing Luna holders. This means that all existing Luna Classic holders will become Luna 2.0 holders.

However, before the launch of the new chain, the transaction of Luna Classic was suspended. In the binance Luna 2.0 support announcement, it said that it would resume the LUNC transaction on May 30.


Luna Classic Price

Luna Classic is still seriously down from its original historical high, because it carries the burden of the original Luna and its collapse.

However, like the price of Luna 2.0, holders are waiting to see the performance of Luna Classic when the new chain is launched. Before the launch of the new chain, it fell by 20%, but then there was an amazing rebound, and even jumped by 100% within 24 hours.

Its current market value fluctuates between $700 billion and $800 billion, with a trading price of $00008. This market value makes it lower than the crescent ball, but it has narrowed the gap slightly.