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Will Terra Classic (LUNC) Price Increase with This New Update

Will Terra Classic (LUNC) Price Increase with This New Update

The Tera Classic (LUNC) crypto token has benefited significantly from a successful integration with Interchain Station. The rebranded Terra network will join a list of other blockchains, including Osmosis, Juno, and SEI, among others, to help steer the network in the right direction, according to Jared, the lead developer at Terraform Labs, who announced on his official Twitter account.

LUNC Interchain Station Goes Live

Jared also mentioned that more chains, such as SEI, Mars, and Pisco, will soon join the interchain station. This move will allow different blockchains to communicate with one another in real-time. Furthermore, the lead developer stated that more features would be rolled out in the coming days, with the primary focus being the launch of the wallet for mobile devices. The station currently supports the following mainnets: Luna, Lunc, Osmosis, Juno, Kujira, Carbon, HuaHua, and Cresent.

As previously reported on CoinGape, the price of Terra Classic (LUNC) increased by nearly 3% on January 10 after the TFL staff announced it as a “breakthrough in chain integrations” on Twitter. The new development comes after the LUNC community attempted to revive the dwindling project, a blockchain spun out of the defunct Terra ecosystem. Developers working on the DeFi platform will now have easy access to Oracle data from multiple chains via the interchain facility, thanks to the new station wallet.

Terra Classic (LUNC) Price Action 

The Terra Classic blockchain has had a difficult start to 2023, as crypto exchange KuCoin announced the delegation of nearly 48 billion LUNC tokens. However, the LUNC community has fought back by approving and implementing new governance proposals to improve the whole chain. To stimulate on-chain activity, the Terra ecosystem has recently conducted token burns.

Governance proposal 11242, for example, seeks to end the practice of reminting a portion of the LUNC tokens that have been destroyed. Once implemented, this upgrade will effectively remove the crypto tokens from the circulating supply, which could positively impact the price of LUNC.

The Terra Classic (LUNC) price is currently being traded at $0.0001761. According to CoinGape’s crypto market tracker, this represents a 2.65% increase on the day, compared to a massive gain of 15.50% over the last week.

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