Terra LUNC Regains $1B Market Cap

SINGAPORE – Terra LUNC recaptured a $1 billion fully diluted market cap, sustaining the threshold for three consecutive weeks. The milestone achievement comes on the heels of Proposal 11168, known as ‘Join L1 Task Force’, from Edward Kim, a computer science professor closely associated with the Terra project. 

The proposal would keep 50% of all burned LUNC out of the development pool. In doing so, the coins would be burned outright, further stabilizing the coin’s total supply. After losing 99% of its value in May, LUNC has worked to rebuild not only its brand, but its market position as well. At press time the coin is ranked #40 on CoinMarketCap.

📈Why #LUNC is up 13% in the last 24 hours?

👉The community is voting on a proposal that would reverse a decision to transfer 50% of all #LUNC burns to a community development pool.

👉The network has witnessed accelerated #burning of LUNC in a bid to give the asset utility pic.twitter.com/cJdBrQNetG

— Satoshi Club (@esatoshiclub) December 27, 2022

On Dec. 21 LUNC rallied from $0.0001276 to a one-month high of $0.0001835 on Dec. 27. LUNC rests at $0.0001493 at press time. TerraLUNC has been in a steady decline since its last major rally on May 4, when the coin was trading at $86.16, before toppling to $0.00614 on May 11.