The value of Terra Classic (LUNC) has experienced a significant drop due to increased selling pressure, which has impacted ongoing efforts to rescue the token. 

The world’s largest crypto exchange Binance has temporarily suspended the burning of Terra Classic (LUNC) trading fees until March 2023. The move comes following the developments related to Proposal 10983 and Proposal 11111 to fund the commodity pool. Moreover, the crypto exchange will burn 50% of LUNC spot and margin trading fees instead of 100%.

We will walk you through the year’s defining market events with the benefit of hindsight and an eye towards the future.

Terra Classic (LUNC), despite a massive drop in value to the collapse of the Terraform labs ecosystem, is beginning to recover. LUNC has recovered a market valuation of $1 billion as of December 27 for the first time since December 14.

Whistleblower PSX_TX exposed the risk in a legal assessment of the situation surrounding the previous allotment of $150K to the Terra Rebels group.

The Terra Classic Casino continues to burn LUNC voluntarily.

Terra Classic core developers Edward Kim and Tobias “Zaradar” Anderson have formed a new developers team called “Joint L1 Task Force”. Former Terra Rebels developers Edward Kim and Zaradar have released their first proposal, shared by Edward Kim on the classic agora on Saturday.

New Terra Classic Layer 1 Team in progress.

LUNC Price News: The price of Terra Classic (LUNC) suddenly rose by nearly 7% on a moderately green day in the crypto market. The price speculation can be attributed to a number of reasons surrounding the crypto project, which is in a dire attempt to minimize its gigantic supply of 6 trillion tokens and to reinstate the UST peg back to $1.

Independent Terra Classic development group TerraCVita has released its whitepaper, per a tweet from the group today.

Leading cryptocurrency Exchange Binance has announced it completed the distribution Terra’s ($LUNA) second airdrop to eligible users who held Terra Classic ($LUNC) and TerraClassicUSD ($USTC) at the time of the snapshots both before and after the collapse of the Terra ecosystem in May.

The Terra Classic community could lose the support of the leading crypto exchange Binance, regarding the LUNC burn campaign. This fresh speculation originates from the recent extortion accusations leveled against the popular independent Terra Classic development group called Terra Rebels by a prominent LUNC validator.

The world’s largest crypto exchange Binance completes the second round of Terra (LUNA) airdrop distribution to Terra Classic (LUNC) and TerraClassicUSD (USTC) holders on Thursday. The airdrop is related to the separation of the Terra Classic network under the “Terra Ecosystem Revival Plan 2” by Do Kwon, with the first airdrop already completed in May.

The Terra Classic community is voting on a proposal to repeal the reminting of 50% of all Terra Luna Classic (LUNC) burns allocated to the community pool at the end of every epoch. This parameter change went live with proposal 10893 from CosmosCapybara.

LUNC DAO accuses the Terra Rebels of scamming the Terra Classic community and jeopardizing Binance support.

TFL reveals the date for Shuttle bridge operations to end and urges users to bridge assets back to Terra Classic.

TerraCVita says it has completed the final update on critical Terra Station infrastructure.

Terra Classic validator Classy’s Crypto Sphere has burned nearly 13 million LUNC tokens in a single transaction on Wednesday. The total number of LUNC tokens burned by the community has now reached over 36.227 billion. The validator is associated with Terra Classic influencer ClassyCrypto.

Mr. Diamondhandz1, the host of LUNCLIVE tweeted, “BREAKING: Proposal #11111 to REPEAL proposal #10983 which mints 50% of all burns is now live for voting on Terra Station. It’s time for the LUNC community to support Binance like they supported us. Get out and vote!”

Developers have rolled out the Terra Classic v23 upgrade, says Terra Rebels member and Terra Classic core developer Raider70.