While business activities were put on a hiatus, Terra Classic (LUNC) burns persisted over the weekend, as the community witnessed the incineration of up to 15,197,890 (15.1M) LUNC tokens between Saturday and Sunday despite a massively crashing broader crypto market that has so far put pressure on investors’ confidence.

TerraCVita proposes to help hacked delegators recover funds.

Terra Rebels reduce their headcount to boost efficiency.

Validators on the Terra Classic network have voted to approve 937.5M LUNC for Terra Rebels to make Rebel Station independent of TFL infrastructure. 

The controversial Proposal 11030 by Terra Rebels to separate the Terra Classic (LUNC) community from Terraform Labs and Do Kwon is seemingly passing. TFL staff Jared indeed pointed out earlier that it’s better for Terra Classic to separate from Terra (LUNA).

Terra Classic IBC channel reopening to Osmosis sees promising transaction volume on the first day.

TerraCVita, an independent group dedicated to developing the Terra Classic (LUNC) asset, has revealed that its internal roadmap includes some provisions that would see to the burn of trillions of LUNC tokens. The disclosure comes when the community regards token burns as the top priority as the campaign to rejuvenate the asset picks up.

The Osmosis IBC channel is now functional.

As the <a href="https://finbold.com/category/cryptocurrency-news/">cryptocurrency market</a> continues to swim in an ocean of red, the embattled Terra Classic (<a href="https://finbold.com/cryptocurrency/terra-luna-classic/">LUNC</a>) is suffering an exceptionally poor performance after the news emerged that the Terraform Labs founder Do Kwon was hiding in Serbia.

Terra Classic (LUNC) burns on track.

Terra Casino has continued to contribute to the ongoing Terra Luna Classic (LUNC) burn campaign.

Do Kwon <a href="https://twitter.com/stablekwon">@stablekwon</a>, founder of Terra on Twitter: "I think the time has come for <a href="https://twitter.com/GenesisTrading">@GenesisTrading</a> to reveal if they provided the $1B UST shortly before the crash to SBF or Alameda - the purchase from LFG was represented as stemming from “interest to participate in the Terra Defi ecosystem” - not to provide ammo for a peg attack. &nbsp;

After massive FUD due to Terraform Labs ending support for Terra Station risked the survival of Terra Classic (LUNC), the community has finally found a life. Terra Classic blockchain tokens <a href="https://coingape.com/lunc-news-latest-updates-dec-8-terra-classic-price-soars-6-ustc-20/" target="_blank">LUNC and USTC have rallied</a> over 6% and 20% in the last 24 hours, respectively.

Terra Rebels will no longer be providing support for the Terra Station wallet. Instead, they will be focusing efforts on the Rebel Station wallet.

In particular, one token that continues to be among the most trending assets despite the collapse of the Terraform labs is the Terra Classic (<a href="https://finbold.com/cryptocurrency/terra-luna-classic/">LUNC</a>) token, the original chain of the collapsed Terra (<a href="https://finbold.com/topic/luna/">LUNA</a>) ecosystem, which gained 12% in just 24 hours, adding <a href="https://finbold.com/terra-classic-gains-12-in-a-day-adding-100-million-to-luncs-market-cap/">over $100 million</a> to LUNC’s market cap on December 2 alone.

A wallet holding a lump of Terra Classic tokens on the already bankrupted FTX exchange has just been discovered, giving a number of community members a reason to believe that LUNC circulating supply is about to see a massive reduction.

There are a few things to note as the Terra Classic Network is set to re-open IBC channels tomorrow.

Cosmos Capybara, a Terra Classic community member, has <a href="https://classic-agora.terra.money/t/signaling-proposal-lunc-community-requests-osmosis-support-the-burn-tax/48607" target="_blank">published</a> a signaling proposal on agora with the intent of the Terra Classic community showing that it wants Osmosis to support the burning of Terra Luna Classic (LUNC) off-chain.

LUNC may be at risk of a dump as users discover 154B LUNC on an FTX-owned wallet.

Terra Classic (LUNC) has secured the top spot among assets with the highest social activity, following Binance’s latest burn.