Luna Classic Burn

By Ashok Lathwal . June 4, 20223 Mins read

Luna Classic is the new name given to the Luna token of Terra Blockchain. You must have seen the trend that is going on on Twitter.

The trend is going on with the hashtag #lunaburn. And also, people are posting the prices going down of Luna Classic.

Are you still not sure what this trend is all about? Well, this article will give you a brief overview, which will let you understand the crocs of this trend. Let’s dive in.

Luna Classic Burn

Luna classic is the original crypto coin of the Terra ecosystem. Over the years, it has been seeing a drift in its trades in the crypto market.

Luna Classic token of the terra ecosystem is also known as LUNC. The luna classic burn has been trending on Twitter for the last few days. The crypto users want it to end completely so that the new version of the LUNA coin can be introduced in the market.

The luna coin’s airdrop was launched a couple of days back on the 28 May, 2022. After the terra ecosystem has seen its crash and fall in the market, crypto users have a trend to burn(remove the existence ) of Luna Classic.

There are also groups and people who are supporting the Luna coin to not be cut off from the market.

Crypto users have been making predictions if the luna 2.0 will be rolled out in the market. However, luna 2.0 can be launched only when the luna classic(lunc) has been burned.

Why Is Luna Classic Burn Trending?

There are several reasons why luna classic burn is trending on Twitter. Some of the major reasons are as follows:

Crash Of Luna

The first and foremost reason why it is trending is because of the crash that terra blockchain had to encounter.

To recover the old version of Luna, terra decided to introduce Luna 2.0, and some people are against it.

Hard Fork Idea

The hard fork is a circumstance where the newer crypto token/coin makes the older crypto(of the same blockchain) invalid.

When the CEO of Terra talked about forking, quite a number of people and elite people showed their grief against it. This hence sprouted the seed among people to go for burning luna classic tokens.

Support Of Prominent People

Another reason why people are after Luna’s burn is due to the support shown(for vanishing Luna). Binance CEO has been playing a vital role in the trend for burning LUNA.

Also Read:

Can We Still Buy LUNA?

Yes, people can still buy and invest in Luna. This act will support Luna to stay longer in the crypto market.

Recently, the Luna airdrop was launched to generate more investors for Luna and to renew its value and worth to its old recognition. In addition, this will also increase its interest rate, which can give a support ground for Luna to stand back.

Where Can You Get Luna?

Although Binance has stopped the supply of Luna and TerraUSD for the time being, you can still get Terra Luna.

If you don’t know where you can buy Luna, here’s a list:-

Crypto.com
Binance
Huobi
Kucoin
eToro
Coinbase
WazirX

Conclusion

By now, you must know that Do Kwon has been trying his best to bring back the Luna Classic. He has proposed the introduction of luna 2.0, which is the newer version of Luna, which has then fueled the fire of burning the older version of luna(luna classic) on Twitter.

Many crypto traders have given their opinions. Among the thousands of comments, Changpeng Zhao(CEO of Binance) has shown great support for burning Luna Classic.

However, no one can make a solid prediction on Luna classic’s burn; we never know if it can be back to its old honor. You can still get to buy Luna from the above-listed platforms.

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