Terra Classic’s native token LUNC has seen a huge bullish rally in the past two weeks. Its price has risen by more than 425% in the past 14 days.
Since the fateful downfall of the original Terra LUNA due to the TerraUSD (UST) stablecoin crash and the resulting hard fork that resulted in the rebranding of the old Terra Chain into Terra Classic, Terra Classic’s LUNC coin has had a rough time trying to regain its lost glory.
Terra Classic has undertaken several upgrades and adopted a raft of proposals from its community including burning and staking LUNC to try to help the price of LUNC token recover.
The most recent proposal from the Terra Classic community is the 1.2% tax burn proposal that has received support from several centralized exchanges including MEXC, Gate.io, and KuCoin among others. The community is expected to vote on it next week.
To help traders seeking to take advantage of the current LUNC bull run, Coinjournal has prepared this brief guide on where to purchase the LUNC coin.
To find out more, please continue reading.
Best places to buy LUNC coin
As LUNC is such a new asset, it’s yet to be listed on major exchanges. You can still purchase LUNC using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy LUNC right now, follow these steps:
1. Buy ETH on a regulated exchange or broker, like eToro ›
We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.
2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask
You’ll need to create your wallet, grab your address, and send your coins there.
3. Connect your wallet to the 1Inch DEX
Head to 1Inch, and ‘connect’ your wallet to it.
4. You can now swap your ETH for LUNC
Now that you’re connected, you’ll be able to swap for 100s of coins including LUNC.
What is LUNC?
LUNC is the native token of the Terra Classic blockchain which is a rebrand of the old Terra LUNA chain after the Terra hard fork that took place following the Terra LUNA crash caused by the crash of the UST stablecoin. The forked chain is referred to as Terra 2.0 and its native token retained the name of the original Terra LUNA token.
The Terra Classic chain is also home to the TerraUSD stablecoin which was renamed TerraUSD Classic (USTC).
Should I buy LUNC today?
If you want to invest in a digital asset that crashed a few months ago but currently showing signs of recovery, then the LUNC token could be a good choice.
Nevertheless, you should be aware of the fact that buying the cryptocurrency market is extremely volatile.
LUNC price prediction
Going by the momentum of the current bullish trend, crypto analysts believe Terra Classic could be on course to drop another zero in the coming weeks, especially after the much anticipated 1.2% tax burn is implemented
$LUNC social media trends
#LUNC smashes through another target. After burners charging 🔥 Current altitude over 0.0005 🚀❤️#TerracVita baby. pic.twitter.com/NVbUwx2dAI
— TerraRebel (@RexYellerBelly) September 8, 2022
A few CEXs are claiming to “support the 1.2% tax”, but they’re not really. What most are referring to is a 1.2% tax on withdrawals. This means nothing. All it serves to do is reduce the chance of people leaving the CEX. Real support means burning 1.2% on all $LUNC buys and sells
— 🔥🙏 𝕃𝕌ℕℂ 𝔻𝔸𝕆 🙏🔥 (@LUNCDAO) September 7, 2022
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