LUNC (Luna Classic) is growing exceptionally well as the community focuses on burning trillions of tokens.
After the LUNC community accepted the proposal of 1.2% tax burn to reduce the excess supply, major cryptocurrency exchanges have shown their support and soon will implement the tax burn mechanism for the same. Following the positive developments, LUNC's price has jumped by 44% in the past 7 days.
The community aims to bring a positive impact to the ecosystem and therefore working to burn the excess supply of Luna Classic. LUNC has a total supply of 6.7 trillion. As per some data, as of now 6.5 billion tokens have been burnt. Major exchanges are supporting and implementing the 1.2% tax burn mechanism in their exchanges. Even many projects are now joining the terra classic ecosystem.
Such strong support from the community is leading the LUNC's price to jump higher and become more deflationary. As of now, at the time of writing this article, LUNC is ranked #31 in the global crypto ranking and is trading at around $0.00033 and have gained 11.8% in the last 24 hours.
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